Riyad Bank provides a short term Point of sale financing for a period of up to 6 months, with the amount of 1 million SAR. Targeting small and medium enterprises with 3 to 40 million SAR annual income, to provide them with the latest technological demands when it comes to safety and efficiency to meet their needs.
Feature:
-
The finance amount will be settled daily through POS
Conditions:
-
The establishment does not have any facilitation with Riyad Bank
-
The establishment have POS with Riyad Bank for a period not less than 3 months
Rates & Fees:
| Product |
Annual Percentage Rate (APR) |
Administrative fees |
Administrative fees Min or Max Limit |
| POS 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 |
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.