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The Prices of Financing and Savings Products

Last update 11 February 2024

The Prices of Financing and Savings Products for retail banking

 

Disclosure of Annual Percentage Rate for Credit Cards:


MasterCard World (Islamic) + MasterCard World Elite (Islamic):

You purchase an airline ticket valued SAR 7000 on 1 April. Your statement date is 28 April; with a due date of 20 May, you have settled SAR 350 in the due date, which will make you continue paying the minimum due (5%) for 20 months to settle the total amount. In this case, the FC would appear in your next statement as follow:

Title 1
Title 2
Total outstanding due in 28 April statement*
7000 SAR
Amount paid on due date 20 May
350 SAR
The carried over balance (revolved) (A)
6650 SAR
FC calculation (2.80% per month 28.08% APR)**
-
Total FC applicable on 28 April statement (B)
159.06 SAR
Outstanding due in 28 May statement (A)+(B)***
6809.06 SAR
Number of months to settle the dues
20 months
Type of payment
5%
  • Assuming no outstanding balance is carried from previous month
  • Assuming no other transactions made between 28 April – 28 May
 

MasterCard Titanium (Islamic):

You purchase an airline ticket valued SAR 3000 on 1 April. Your statement date is 28 April; with a due date of 20 May, you have settled SAR 150 in the due date, which will make you continue paying the minimum due (5%) for 8 months to settle the total amount. In this case, the FC would appear in your next statement as follow:

Title 1
Title 2
Total outstanding due in 28 April statement*
3000 SAR
Amount paid on due date 20 May
150 SAR
The carried over balance (revolved) (A)
2850SAR
FC calculation (2.80% per month 28.08% APR)**
-
Total FC applicable on 28 April statement (B)
65.69 SAR
Outstanding due in 28 May statement (A)+(B)***
2915.69 SAR
Number of months to settle the dues
8 months
Type of payment
5%
  • Assuming no outstanding balance is carried from previous month
  • Assuming no other transactions made between 28 April – 28 May

Visa Platinum (Islamic) + Visa Signature (Islamic):

You purchase an airline ticket valued SAR 15000 on 1 April. Your statement date is 28 April; with a due date of 20 May, you have settled SAR 750 in the due date, which will make you continue paying the minimum due (5%) for 43 months to settle the total amount. In this case, the FC would appear in your next statement as follow:

Title 1
Title 2
Total outstanding due in 28 April statement*
15000 SAR
Amount paid on due date 20 May
750 SAR
The carried over balance (revolved) (A)
14250 SAR
FC calculation (2.80% per month 28.08% APR)**
-
Total FC applicable on 28 April statement (B)
313.84 SAR
Outstanding due in 28 May statement (A)+(B)***
14563.84 SAR
Number of months to settle the dues
43 months
Type of payment
5%
  • Assuming no outstanding balance is carried from previous month
  • Assuming no other transactions made between 28 April – 28 May
To know The Best Credit Card For You, click here
Crdit cards calculator, click here
 
 

Disclosure of Annual Percentage Rate for Personal Loan:

Annual Percentage Rate (APR):

The discount rate at which the present value of payments and installments that are due from the Borrower, representing the Total Amount Payable by the Borrower, equals the present value of all payments of the Amount of Financing available to the Borrower on the date on which the Financing amount or the first payment thereof is available to the Borrower.

Personal Loans Products:

Example of Tawaruq Personal loan for employed customer working in governmental sector as below:

Finance Amount (SAR)
*Annual Percentage Rate (APR)
Maturity in years
Monthly repayment amount (SAR)
100,000
6.93%
5 Years
1,950.00

*APR may differ depending on the amount and the maturity period different from above and subject to credit scoring of each customer.

 

Example of Tawaruq Personal loan for employed customer working in Private sector as below:

Finance Amount (SAR)
*Annual Percentage Rate (APR)
Maturity in years
Monthly repayment amount (SAR)
100,000
6.81%
5 Years

1,954.17

*APR may differ depending on the amount and the maturity period different from above and subject to credit scoring of each customer.

 

Example of Murabaha Personal loan for employed customer working in private sector as below:

Finance Amount (SAR)
*Annual Percentage Rate (APR)
Maturity in years
Monthly repayment amount (SAR)

250,000.00

6.97%
5 Years

4,864.58

*APR may differ depending on the amount and the maturity period different from above and subject to credit scoring of each customer.

 

Example of Tawaruq Personal loan for retired customer as below:

Finance Amount (SAR)
*Annual Percentage Rate (APR)
Maturity in years
Monthly repayment amount (SAR)
100,000
6.77%
5 Years

1,976.97

*APR may differ depending on the amount and the maturity period different from above and subject to credit scoring of each customer.

 

Disclosure of Annual Percentage Rate for Auto Leasing:

Annual Percentage Rate (APR):

The discount rate at which the present value of payments and installments that are due from the Borrower, representing the Total Amount Payable by the Borrower, equals the present value of all payments of the Amount of Financing available to the Borrower on the date on which the Financing amount or the first payment thereof is available to the Borrower.

Auto Leasing Products:

Example of Auto Leasing with structure lease to own for salary transferred as below:

Asset Type
Finance amount
Maturity in years
Annual Percentage Rate (APR)
Monthly repayment amount SAR
Percentage Value
Car
100,000
5
10.24%
1,509
45%

*APR may differ depending on the amount and the maturity period different from above and subject to credit scoring of each customer.

 

Example of Auto Leasing with structure lease to own for non- salary transferred as below:

Asset Type
Finance amount
Maturity in years
Annual Percentage Rate (APR)
Monthly repayment amount SAR
Percentage Value
Car
100,000
5
11.66%
1,592
45%

*APR may differ depending on the amount and the maturity period different from above and subject to credit scoring of each customer.


Disclosure of Annual Percentage Rate for Home Finance:

Annual Percentage Rate (APR):

The discount rate at which the present value of payments and installments that are due from the Borrower, representing the Total Amount Payable by the Borrower, equals the present value of all payments of the Amount of Financing available to the Borrower on the date on which the Financing amount or the first payment thereof is available to the Borrower.

Example of product price for fixed Ijarah finance – First home buy:

Property Value
Loan to Value Ratio
Fixed or Variable Rate **
APR*
Maturity in Years
Payment Type ***
Monthly Repayment Amount
Early Payment Charges
605,910
90%
Fixed
8.45%
11
Principle and Interest / profit, insurance
6,212.27
Profit of future 3 installments

*APR may differ depending on the amount and the maturity period different from above and subject to credit scoring of each customer.

 

Example of product price for variable Ijarah finance – First home buy:

Property Value
Loan to Value Ratio
Fixed or Variable Rate **
APR*
Maturity in Years
Payment Type ***
Monthly Repayment Amount
Early Payment Charges
1,100,000
70%
Variable
7.31%
10
Principle and Interest / profit, insurance
8,907.59
Profit of future 3 installments

*APR may differ depending on the amount and the maturity period different from above and subject to credit scoring of each customer.

 

Monthly Ijarah variable installment calculated as below:

Monthly installment for the First rental term is 8,907.59 for 24 months with cost term 3.75%

  • The minimum Monthly installment for future is 4,687.46 with fixed cost term 1.35%, variable cost term 2.4% in event of SIPOR decrease to the minimum cap
  • The maximum Monthly installment for future is 11,924.71with fixed cost term 1.35%, variable cost term 2.4% in event of SIPOR increase to the maximum cap

Example of product price for Murabaha Finance – First home buy:

Property Value
Loan to Value Ratio
Fixed or Variable Rate **
APR*
Maturity in Years
Payment Type ***
Monthly Repayment Amount
Early Payment Charges
1,200,000
90%
Fixed
6.53%
25
Principle and Interest / profit, insurance
9,273.26
Profit of future 3 installments

*APR may differ depending on the amount and the maturity period different from above and subject to credit scoring of each customer.

 

Example of product price for self-construction:

Property Value
Loan to Value Ratio
Fixed or Variable Rate **
APR*
Maturity in Years
Payment Type ***
Monthly Repayment Amount
Early Payment Charges
1,000,00
90%
Fixed
5.23%
23
Principle and Interest / profit, insurance
4,153.82
Profit of future 3 installments

*APR may differ depending on the amount and the maturity period different from above and subject to credit scoring of each customer.

 

Example of product price for Tawaruq home equity Finance – First home buy:

Property Value
Loan to Value Ratio
Fixed or Variable Rate **
APR*
Maturity in Years
Payment Type ***
Monthly Repayment Amount
Early Payment Charges
500,00
45%
Fixed
5.49%
16
Principle and Interest / profit, insurance
1.980.90
Profit of future 3 installments

*APR may differ depending on the amount and the maturity period different from above and subject to credit scoring of each customer.

 

Disclosure of Annual Percentage Rate for Islamic Saving Accounts and Wazen Accounts:

Example 1: 1 Month profits:

Monthly Average Balance*
AER
Profit Calculation
Profit  Monthly
Expected  Profit
SAR 20,000
0.30%
Monthly Average Balance
Monthly
SAR 5.00

Example 2: 12 Months:

Monthly Average Balance*
AER
Profit Calculation
Profit  Monthly
Expected  Profit
SAR 100,000
0.30%
Monthly Average Balance
Monthly
SAR 300.41

Assuming no withdrawals take place during the month and profit is compounded monthly.


Example 3: If customer's Monthly average balance is below required balance:

Monthly Average Balance*
AER
Profit Calculation
Profit  Monthly
Expected  Profit
SAR 10,000
0.00%
Monthly Average Balance
Monthly
SAR 0.00

*APR may differ depending on the amount and the maturity period different from above and subject to credit scoring of each customer.

Disclosure of Annual Percentage Rate for Conventional Islamic Saving Accounts

Example 1: 1 Month profits:

MONTHLY AVERAGE BALANCE*
AER
PROFIT CALCULATION
PROFIT PAYMENT
EXPECTED PROFIT
SAR 12,000
0.10%
monthly average balance
Monthly
SAR 1.00

Example 2: Profit for 12 months:

MONTHLY AVERAGE BALANCE*
AER
PROFIT CALCULATION
PROFIT PAYMENT
EXPECTED PROFIT
SAR 100,000
0.25%
monthly average balance
Monthly
SAR 250.29

Assuming no withdrawals take place during the month and profit is compounded monthly.

Example 3: If customer's monthly average balance is below required balance:

MONTHLY AVERAGE BALANCE*
AER
PROFIT CALCULATION
PROFIT PAYMENT
EXPECTED PROFIT
SAR 4,000
0.00%
monthly average
Monthly
SAR 0.00

*Assuming customer’s monthly average balance remains same throughout the period 
Monthly average balance should not be less than 5,000 SAR to be eligible for profit distribution 
AER (Annual Equivalent Rate): It is a figure, which shows what the profit rate would be on an account that has more than one compounding period. It is calculated based on the assumption that any profit paid is added to the principal balance and the next profit payment will be based on the higher account balance.

 

Disclosure of Annual Percentage Rate for Time Deposit Accounts:

Example 1: 1 Month:

Deposit Amount
AER
Tendor
Number of withdrew Allowed In First Year
Number of withdrew Allowed In Second Year
SAR 100,000
0.74%
1 month
0
0

Example 2: 6 Months:

Deposit Amount
AER
Tendor
Number of withdrew Allowed In First Year
Number of withdrew Allowed In Second Year
SAR 500,000
0.97%
6 month
0
0

Example 3: 12 Months:

Deposit Amount
AER
Tendor
Number of withdrew Allowed In First Year
Number of withdrew Allowed In Second Year
SAR 1,000,000
1.02%
12 months
0
0

The Rates of Financing and Savings Products for corporate banking

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
Monthly Installments
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
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
Monthly Installments
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)
Administrative fees
Administrative fees Min or Max Limit
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
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
Monthly Installments
Payment Period
60 Months
Annual Profit Rate
8%
Finance Amount
Installment Amount
Total Bank Profit
Finance Amount including Profits
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
Total Bank Profit
Finance Amount including Profits
SAR 100,000
SAR 3,369
SAR 21,292
SAR 1121,292

POS Financing Program:

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
Total Bank Profit
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

Corporate Payroll Financing Program:

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):

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
Total Bank Profit
Finance Amount including Profits
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
Total Bank Profit
Finance Amount including Profits
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
Total Bank Profit
Finance Amount including Profits
SAR 100,000
SAR 103,750
SAR 3,750
SAR 103,750

Monshaat:


Islamic credit facilities program - Short term:

Product
Annual Percentage Rate (APR)
Administrative fees
Administrative fees Min or Max Limit
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
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

Capital Expansion Financing Program- Medium-term:

Product
Annual Percentage Rate (APR)
Administrative fees
Administrative fees Min or Max Limit
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
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
Monthly Installments
Payment Period
60 Months
Annual Profit Rate
8%
Finance Amount
Installment Amount
Total Bank Profit
Finance Amount including Profits
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
Total Bank Profit
Finance Amount including Profits
SAR 100,000
SAR 3,369
SAR 21,292
SAR 121,292

POS Financing Program - Short-term:

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):

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
Total Bank Profit
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

Islamic credit facilities program for Start-Ups:

Product
Annual Percentage Rate (APR)
Administrative fees
Administrative fees Min or Max Limit
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
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
Monthly Installments
Payment Period
60 Months
Annual Profit Rate
8%
Finance Amount
Installment Amount
Total Bank Profit
Finance Amount including Profits
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
Total Bank Profit
Finance Amount including Profits
SAR 100,000
SAR 3,369
SAR 21,292
SAR 121,292

Supply Chain Finance:

Product
Annual Percentage Rate (APR)
Administrative fees
Administrative fees Min or Max Limit
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
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

Business Banking Credit Card (Nomwo):

Primary Card Annual Fees
Monthly-Term Cost
Annual Percentage Rate
Primary/ Additional Card Annual Fees
Statement Date
Minimum Limit Required To Be Paid Monthly For The Primary Card
Cash Withdrawal Fees
Late Payment Fees
Additional Fees For Non-Riyal Saudi Transactions
Dynamic Commission Fees
Additional Card Annual Fees
Card Reactivating Fees
Replacement Card Fees
Credit Shield (Optional)
Dispute Process
Administrative Fees
Settlement Date
SAR 200
1.75%
21%
Free
Monthly
200 or 5%, whichever is higher
SAR 75 for each withdrawal less than SAR 5000 , and SAR 300 or 3%, whichever is less, for every withdrawal exceeding SAR 5,000
SAR 100
2.75%
1.5%
Free
No Fees- Traditional Card
SAR 50
0.49%
SAR 50
-
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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