Point of sale financing - Short term

Riyad Bank provides a short term financing program against “Point Of Sale” collections with the amount of SAR 1 million, using the latest technologies when it comes to safety and efficiency to meet SMEs needs.

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
  • Finishing a minimum POS subscription period of 6 months
  • Terms and conditions apply

Rates & Fees:

Product Annual Percentage Rate (APR) Administrative fees Administrative fees Min or Max Limit
POS Financing 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 6 Months
Annual Profit Rate 2%

Finance Amount Installment Amount Total Bank Profit Finance Amount including Profits
SAR 100,000 SAR 16,765 SAR 588 SAR 100,588

Example (2):

Finance Amount SAR 100,000
Payment Method Monthly Installments
Payment Period 6 Months
Annual Profit Rate 13%

Finance Amount Installment Amount Total Bank Profit Finance Amount including Profits
SAR 100,000 SAR 17,318 SAR 3,905 SAR 103,905

Example (3):

Finance Amount SAR 100,000
Payment Method Monthly Installments
Payment Period 6 Months
Annual Profit Rate 15%

Finance Amount Installment Amount Total Bank Profit Finance Amount including Profits
SAR 100,000 SAR 17,419 SAR 4,512 SAR 104,512

Please fill the application and our team will contact you.

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