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:
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Meeting the minimum credit/risk acceptance criteria of Riyad Bank
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Minimum business age is one year, and have a permanent location/outlet
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Presenting a bank account statement of one year
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When applicable, obtaining KAFALAH program approval on the financing
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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 |
Please fill the application and our team will contact you.