Islamic Credit facilitation for Start-Ups

Riyad Bank offers Islamic Credit Facilities designed specifically to Start-Ups, to finance Capital Expenditure as well as Working Capital needs of Start-Ups with a repayment period of one year (maximum).

Conditions:

  • Meeting the minimum credit/risk acceptance criteria of Riyad Bank
  • The owner/business/entity should be mentored/sponsored by one of the government or semi-government educative and/or financing programs, such as WAED of Saudi Aramco, NUSANED of SABIC, Endeavor Saudi Arabia, BADIR, DULANI… etc.)
  • When applicable, obtaining KAFALAH program approval on the financing
  • Working capital finance shall be disbursable after the full commercial operations of the start-up
  • Terms and conditions apply

Rates & Fees:

Product Annual Percentage Rate (APR) Administrative fees Administrative fees Min or Max Limit
Islamic credit facilities program for Start-Ups 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 Monthly Installments
Payment Period 60 Months
Annual Profit Rate 8%

Finance Amount Installment Amount Total Bank Profit Finance Amount including Profits
SAR 100,000 SAR 2,337 SAR 40,235 SAR 140,235

Example (3):

Finance Amount SAR 100,000
Payment Method Monthly Installments
Payment Period 36 Months
Annual Profit Rate 7%

Finance Amount Installment Amount Total Bank Profit Finance Amount including Profits
SAR 100,000 SAR 3,369 SAR 21,292 SAR 121,292

Please fill the application and our team will contact you.

Please complete the form below
Existing or New Riyad Bank Client *