Islamic credit facilities program - Short term

Riyad Bank offers you an Islamic credit facilities program, Tawarruq Funding and/or Letters of Credit (with refinancing) and/or all types of Bank Guarantees (Primarily, Performance, advance payments, or financial) to finance the working capital of enterprises with a repayment period of one year (maximum).

Conditions:

  • Meeting the minimum credit/risk acceptance criteria of Riyad Bank
  • Minimum business age is one year, and have a permanent location/outlet
  • Presenting a bank account statement of one year
  • When applicable, obtaining KAFALAH program approval on the financing
  • Terms and conditions apply

Rates & Fees:

Product Annual Percentage Rate (APR) Administrative fees Administrative fees Min or Max Limit
Islamic credit facilities program - Short term 2% to 15% 0% to 5% -

* The above table is an example, and the annual percentage rate varies according to the amount and the credit evaluation of the activity in addition to the period and method of payment.

The method of calculating the finance cost:

Example (1):

Finance Amount SAR 100,000
Payment Method Monthly Installments
Payment Period 12 Months
Annual Profit Rate 2%

Finance Amount Installment Amount Total Bank Profit Finance Amount including Profits
SAR 100,000 SAR 8,500 SAR 2,000 SAR 102,000

Example (2):

Finance Amount SAR 100,000
Payment Method Quarterly Installments
Payment Period 12 Months
Annual Profit Rate 6%

Finance Amount Installment Amount Total Bank Profit Finance Amount including Profits
SAR 100,000 SAR 8,609 SAR 3,311 SAR 103,311

Example (3):

Finance Amount SAR 100,000
Payment Method One Payment
Payment Period 12 Months
Annual Profit Rate 15%

Finance Amount Installment Amount Total Bank Profit Finance Amount including Profits
SAR 100,000 SAR 115,000 SAR 15,000 SAR 115,000

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