Qasset Your Balance!

Qasset program * is valid only for Riyad Bank Credit cards in good standing.

Credit cardholder can avail this feature through call center 8001242225 or by applying through Riyad Bank Digital Channels.

  This service can be availed on individual retail eligible transactions on the eligible credit cards.

  Nominal one-time processing fee of SAR 50+VAT will be applicable to process this transaction, which will be included in the first credit card statement after Qasset  is processed.

The Qasset program can be availed for Tenure* ranging from 3, 6, 12, 18 or 24 months. The available tenures of the Qasset program can vary based on the Bank’s discretion. However, once the Cardholder has opted for a specific tenure of the plan, the tenure will remain unchanged.

 The applicable profit rate (which will be fixed for every month) will be informed to the Cardholder before proceeding with the Qasset transaction via Digital channels or via the Bank’s recorded lines.

 By availing this service, the Cardholder agrees to pay the Bank as per the selected tenure, Equal Monthly Instalments* (EMI) which will include the principal amount and the profit amount. This EMI amount will be part of the Cardholder’s monthly “Minimum Due” amount.

  Cardholder can Early-settle an ongoing Qasset plan before the Tenure completion via the Bank’s Digital Channels or Bank’s Call center.

   In case of the Early settlement* of Qasset plan, the remaining Qasset profit shall be waived.

 In case Payment made towards the Credit card is greater than current outstanding balance of the credit card and there is an ongoing Qasset plan, then the excess payment will be available as Surplus* balance on the credit card and, available for the Cardholder for any new purchases.  The ongoing Qasset plan’s outstanding balance will remain unchanged and the monthly EMIs will continue to be billed on every statement as per the scheduled plan till the tenure is completed. The Surplus amount will be adjusted against the monthly EMI (assuming that there are no other new transactions).

Approval of Qasset request and the amount is at the sole discretion of the Bank.

 A Qasset transaction will not earn any Hassad Points, Cash back or Miles.

This service is offered exclusively to Primary Cardholders who meet the criteria determined by the Bank from time to time for this product.

The Bank may at any time and without any prior notice or liability to the Cardholder, modify or terminate the Qasset Terms and Conditions for any new Qasset transaction. However, any such modifications or terminations of an existing Qasset plan shall come into effect 30 days after notifying the customer through reliable communication channels.

  If the Cardholder fails to make payment in two full consecutive Qasset monthly EMI, the entire outstanding balance of the Qasset amount shall immediately become due and payable by the Cardholder, and the Bank shall have the right to demand and recover the immediate payment thereof. The Bank will not be responsible or liable for any actions, claims, damages, costs, charges and expenses which a Cardholder may suffer, sustain or incur by way of the Program operates.

  The Terms and Conditions of the Cardholder Agreement shall also apply to this Offer.