Payroll Lending for Corporate
Micro Enterprises
Small & Medium Enterprises
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overview
Overview
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.
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Feature
Feature
- Financing up to 200 thousand SAR
- The program includes multiple activities
- Flexible payment plans
- Competitive rates
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Rates & Fees
Rates & Fees:
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.
Product
Annual Percentage Rate (APR)
Administrative Fees
Administrative Fees Min or Max Limit
Corporate Payroll Financing Program
2% to 15%
0% to 5%
-
Method
The method of calculating the finance cost:
Example (1):
Finance Amount
S..R 100,000
Payment Method
One Payment
Payment Period
3 Months
Annual Profit Rate
2%
Method
The method of calculating the finance cost:
Result
Finance Amount
Finance Amount
Total Bank Profit
Finance Amount Including Profits
S..R 100,000
S..R 100,480
S..R 480
S..R 100,480
Method
The method of calculating the finance cost:
Example (2):
Finance Amount
S..R 100,000
Payment Method
One Payment
Payment Period
3 Months
Annual Profit Rate
6%
Method
The method of calculating the finance cost:
Result
Finance Amount
Finance Amount
Total Bank Profit
Finance Amount Including Profits
S..R 100,000
S..R 101,480
S..R 1,480
S..R 101,480
Method
The method of calculating the finance cost:
Example (3):
Finance Amount
S..R 100,000
Payment Method
One Payment
Payment Period
3 Months
Annual Profit Rate
15%
Method
The method of calculating the finance cost:
Result
Finance Amount
Finance Amount
Total Bank Profit
Finance Amount Including Profits
S..R 100,000
S..R 103,750
S..R 3,750
S..R 103,750
To apply please contact your Relationship manager or fill the below Form
Please complete the form below
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Need help?
Riyad Line:
800 124 2225
