Point of Sale Finance
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Point of Sale Finance
Finance
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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):
Title 1
Title 2
Finance Amount
SAR 100,000
Payment Method
Monthly Installments
Payment Period
6 Months
Annual Profit Rate
2%
Finance Amount
Installment Amount
Installment Amount
Finance Amount including Profits
SAR 100,000
SAR 16,765
SAR 588
SAR 100,588
Example (2):
Title 1
Title 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):
Title 1
Title 2
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
Point Of Sale Finance
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