Payroll Lending for Corporate
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Payroll Lending for Corporate
Finance
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Riyad Bank provides you with Payroll Financing which provides Micro enterprises with annual sales ranging from 0 to 3 million, a payroll finance up 200 thousand SAR with facilitating installments plan, to promote their market competitiveness and help them to attract and retaining national talents.
Feature:
-
Financing up to 200 thousand SAR
-
The program includes multiple activities
-
Flexible payment plans
-
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):
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
To apply please contact your Relationship manager or fill the below Form
For more information:
Please call 920001816
or through Email: CBDsales@riyadbank.com
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