Riyad Bank provides you with Payroll Financing which provides Small and Medium enterprises with annual sales ranging from 3 to 200 million, a payroll finance up 10 million SAR with facilitating installments plan, to promote their market competitiveness and help them to attract and retaining national talents.
Feature:
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Financing up to 10 million SAR
-
The program includes multiple activities
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Flexible payment plans
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Competitive rates
Rates & Fees:
| Product |
Annual Percentage Rate (APR) |
Administrative fees |
Administrative fees Min or Max Limit |
| Corporate Payroll Financing Program |
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 |
One Payment |
| Payment Period |
3 Months |
| Annual Profit Rate |
2% |
| Finance Amount |
Installment Amount |
Total Bank Profit |
Finance Amount including Profits |
| SAR 100,000 |
SAR 100,480 |
SAR 480 |
SAR 100,480 |
Example (2):
| Finance Amount |
SAR 100,000 |
| Payment Method |
One Payment |
| Payment Period |
3 Months |
| Annual Profit Rate |
6% |
| Finance Amount |
Installment Amount |
Total Bank Profit |
Finance Amount including Profits |
| SAR 100,000 |
SAR 101,480 |
SAR 1,480 |
SAR 101,480/td> |
Example (3):
| Finance Amount |
SAR 100,000 |
| Payment Method |
One Payment |
| Payment Period |
3 Months |
| Annual Profit Rate |
15% |
| Finance Amount |
Installment Amount |
Total Bank Profit |
Finance Amount including Profits |
| SAR 100,000 |
SAR 103,750 |
SAR 3,750 |
SAR 103,750 |
To apply please contact your Relationship manager or fill the below Form
For more information:
Please call 920001816
or through Email: CBDsales@riyadbank.com