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The Rates of Financing Products

 Last update 16 April 2024

 

Working Capital Finance

Trade Finance:

Product
Annual Percentage Rate (APR)
Administrative fees
Administrative fees Min or Max Limit
Working Capital Finance
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
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):
Title 1
Title 2
Finance Amount
SAR 100,000
Payment Method
Quarterly Installments
Payment Period
12 Months
Annual Profit Rate
6%
Finance Amount
Installment Amount
Total Bank Profit
Finance Amount including Profits
SAR 100,000
SAR 8,609
SAR 3,311
SAR 103,311
Example (3):
Title 1
Title 2
Finance Amount
SAR 100,000
Payment Method
One Payment
Payment Period
12 Months
Annual Profit Rate
15%
Finance Amount
Installment Amount
Total Bank Profit
Finance Amount including Profits
SAR 100,000
SAR 115,000
SAR 15,000
SAR 115,000

Overdraft:

Product
Annual Percentage Rate (APR)
Administrative fees
Administrative fees Min or Max Limit
Working Capital Finance
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.
* Overdraft profit value is calculated on monthly bases, and there are no fixed installments.
 

Contract Financing:

Product
Annual Percentage Rate (APR)
Administrative fees
Administrative fees Min or Max Limit
Contract Financing
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 financing cost varies according to the nature and duration of the contract / funded project.

The method of calculating the finance cost:

Example (1):
Title 1
Title 2
Finance Amount
SAR 100,000
Payment Method
Monthly Installments
Payment Period/td>
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):
Title 1
Title 2
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
Example (3):
Title 1
Title 2
Finance Amount
SAR 100,000
Payment Method
Quarterly Payment
Payment Period
36 Months
Annual Profit Rate
8.5%
Finance Amount
Installment Amount
Total Bank Profit
Finance Amount including Profits
SAR 100,000
SAR 10,458
SAR 25,500
SAR 125,500

Capital Expenditure Finance:

Product
Annual Percentage Rate (APR)
Title 3
Title 4
Capital Expenditure Finance
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
12 Months
Annual Profit Rate
2%
Finance Amount
Installment Amount
Title 3
Title 4
SAR 100,000
SAR 8,500
SAR 2,000
SAR 102,000
Example (2):
Title 1
Title 2
Finance Amount
SAR 100,000
Payment Method
Monthly Installments
Payment Period
60 Months
Annual Profit Rate
8%
Finance Amount
Installment Amount
Title 3
Title 4
SAR 100,000
SAR 2,337
SAR 40,235
SAR 140,235
Example (3):
Title 1
Title 2
Finance Amount
SAR 100,000
Payment Method
Monthly installments
Payment Period
36 Months
Annual Profit Rate
7%
Finance Amount
Installment Amount
Title 3
Title 4
SAR 100,000
SAR 3,369
SAR 21,292
SAR 1121,292

POS Financing Program:

Product
Annual Percentage Rate (APR)
Title 3
Title 4
POS Financing Program
4% 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
4%
Finance Amount
Installment Amount
Title 3
Title 4
SAR 100,000
SAR 16864

SAR1183

SAR 101183 

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
Title 3
Title 4
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
Title 3
Title 4
SAR 100,000
SAR 17,419
SAR 4,512
SAR 104,512

Corporate Payroll Financing Program:

Product
Annual Percentage Rate (APR)
Title 3
Title 4
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):
Title 1
Title 2
Finance Amount
SAR 100,000
Payment Method
One Payment
Payment Period
3 Months
Annual Profit Rate
2%
Finance Amount
Installment Amount
Title 3
Title 4
SAR 100,000
SAR 100,480
SAR 480
SAR 100,480

Example (2):

Title 1
Title 2
Finance Amount
SAR 100,000
Payment Method
One Payment
Payment Period
3 Months
Annual Profit Rate
6%
Finance Amount
Installment Amount
Title 3
Title 4
SAR 100,000
SAR 101,480
SAR 1,480
SAR 101,480
Example (3):
Title 1
Title 2
Finance Amount
SAR 100,000
Payment Method
One Payment
Payment Period
3 Months
Annual Profit Rate
15%
Finance Amount
Installment Amount
Title 3
Title 4
SAR 100,000
SAR 103,750
SAR 3,750
SAR 103,750

Monshaat:

 

Islamic credit facilities program - Short term:

Product
Annual Percentage Rate (APR)
Title 3
Title 4
Islamic credit facilities 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):
Title 1
Title 2
Finance Amount
SAR 100,000
Payment Method
Monthly Installments
Payment Period
12 Months
Annual Profit Rate
2%
Finance Amount
Installment Amount
Title 3
Title 4
SAR 100,000
SAR 8,500
SAR 2,000
SAR 102,000
Example (2):
Title 1
Title 2
Finance Amount
SAR 100,000
Payment Method
Quarterly Installments
Payment Period
12 Months
Annual Profit Rate
6%
Finance Amount
Installment Amount
Title 3
Title 4
SAR 100,000
SAR 8,609
SAR 3,311
SAR 103,311
Example (3):
Title 1
Title 2
Finance Amount
SAR 100,000
Payment Method
One Payment
Payment Period
12 Months
Annual Profit Rate
15%
Finance Amount
Installment Amount
Title 3
Title 4
SAR 100,000
SAR 115,000
SAR 15,000
SAR 115,000

Capital Expansion Financing Program- Medium-term:

Product
Annual Percentage Rate (APR)
Title 3
Title 4
Capital Expansion Financing Program- Medium-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):
Title 1
Title 2
Finance Amount
SAR 100,000
Payment Method
Monthly Installments
Payment Period
12 Months
Annual Profit Rate
2%
Finance Amount
Installment Amount
Title 3
Title 4
SAR 100,000
SAR 8,500
SAR 2,000
SAR 102,000
Example (2):
Title 1
Title 2
Finance Amount
SAR 100,000
Payment Method
Monthly Installments
Payment Period
60 Months
Annual Profit Rate
8%
Finance Amount
Installment Amount
Title 3
Title 4
SAR 100,000
SAR 2,337
SAR 40,235
SAR 140,235
Example (3):
Title 1
Title 2
Finance Amount
SAR 100,000
Payment Method
Monthly Installments
Payment Period
36 Months
Annual Profit Rate
7%
Finance Amount
Installment Amount
Title 3
Title 4
SAR 100,000
SAR 3,369
SAR 21,292
SAR 121,292

POS Financing Program - Short-term:

Product
Annual Percentage Rate (APR)
Title 3
Title 4
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):
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
Title 3
Title 4
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
Title 3
Title 4
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
Title 3
Title 4
SAR 100,000
SAR 17,419
SAR 4,512
SAR 104,512

Islamic credit facilities program for Start-Ups:

Product
Annual Percentage Rate (APR)
Title 3
Title 4
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):
Title 1
Title 2
Finance Amount
SAR 100,000
Payment Method
Monthly Installments
Payment Period
12 Months
Annual Profit Rate
2%
Finance Amount
Installment Amount
Title 3
Title 4
SAR 100,000
SAR 8,500
SAR 2,000
SAR 102,000
Example (2):
Title 1
Title 2
Finance Amount
SAR 100,000
Payment Method
Monthly Installments
Payment Period
60 Months
Annual Profit Rate
8%
Finance Amount
Installment Amount
Title 3
Title 4
SAR 100,000
SAR 2,337
SAR 40,235
SAR 140,235
Example (3):
Title 1
Title 2
Finance Amount
SAR 100,000
Payment Method
Monthly Installments
Payment Period
36 Months
Annual Profit Rate
7%
Finance Amount
Installment Amount
Title 3
Title 4
SAR 100,000
SAR 3,369
SAR 21,292
SAR 121,292

Supply Chain Finance:

Product
Annual Percentage Rate (APR)
Title 3
Title 4
Supply Chain Finance
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
12 Months
Annual Profit Rate
2%
Finance Amount
Installment Amount
Title 3
Title 4
SAR 100,000
SAR 8,500
SAR 2,000
SAR 102,000
Example (2):
Title 1
Title 2
Finance Amount
SAR 100,000
Payment Method
Quarterly Installments
Payment Period
12 Months
Annual Profit Rate
6%
Finance Amount
Installment Amount
Title 3
Title 4
SAR 100,000
SAR 8,609
SAR 3,311
SAR 103,311
Example (3):
Title 1
Title 2
Finance Amount
SAR 100,000
Payment Method
One payment
Payment Period
12 Months
Annual Profit Rate
15%
Finance Amount
Installment Amount
Total Bank Profit
Finance Amount including Profits
SAR 100,000
SAR 115,000
SAR 15,000
SAR 115,000

Business Banking Credit Card (Nomwo):

Title 1
Title 2
Primary Card Annual Fees
SAR 200
Monthly-term Cost
1.75%
Annual percentage rate
21%
Primary/ Additional Card Annual Fees
Free
Statement Date
Monthly
Minimum limit required to be paid monthly for the Primary Card
200 or 5%, whichever is higher
Cash Withdrawal fees
SAR 75 for each withdrawal less than SAR 5000 , and SAR 300 or 3%, whichever is less, for every withdrawal exceeding SAR 5,000
Late Payment Fees
SAR 100
Additional fees for non-Riyal Saudi transactions
2.75%
Dynamic Commission Fees
1.5%
Additional Card Annual Fees
Free
Card Reactivating Fees
No Fees- Traditional Card
Replacement Card Fees
50 ريال
Credit Shield (optional)
0.49%
Dispute Process
SAR 50
Administrative Fees
-
Settlement Date
Due Date the 20th of each month
* Dynamic Transfer Commission (1.5%) only applies if the customer has chosen to pay in Saudi Riyals outside the Kingdom of Saudi Arabia. Example:
International Purchase Amount
Transaction Currency
SAR exchange rate
Amount in SAR
Merchant Transfer Commission
Dynamic Transfer Commission
Transaction Total Amount
100 US Dollars
SAR
3.77
377 SAR
3%
1.5%
394.13 SAR

** The transfer commission from US Dollar to Saudi Riyal is applied by the merchant (Visa / MasterCard)
 

Example (1):

Total purchases before issuing the account statement is 100,000 riyals, and the minimum payment (5% or 200 riyals, whichever is higher) was paid:

Title 1
Title 2
Total outstanding due in the statement*
SAR 100,000
Amount paid on due date
SAR 5,000
The carried over balance (A)
SAR 95,000
FC calculation (% 1.75 from the carried over amount)
SAR 1,662.5
Total outstanding due in the next month’s statement (A)+(B)
SAR 96,662.5

Example (2):

Total purchases before issuing the account statement is 100,000 riyals, and total amount was paid before issuing the account statement:

Title 1
Title 2
Total outstanding due in the statement*
SAR 0,00
Amount paid on due date
SAR 0,00
The carried over balance (A)
SAR 0,00
FC calculation (% 1.75 from the carried over amount)
SAR 0,00
Total outstanding due in the next month’s statement (A)+(B)
SAR 0,00

Example (3):

Total purchases before issuing the account statement is 100,000 riyals, and % 50 of the used balance before issuing the Statement was paid:

Title 1
Title 2
Total outstanding due in the statement*
SAR 50,000
Amount paid on due date
SAR 2,500
The carried over balance (A)
SAR 47,500
FC calculation (% 1.75 from the carried over amount)
SAR 831.25
Total outstanding due in the next month’s statement (A)+(B)
SAR 48,331.25

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