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overview
Overview
Riyad Bank provides a short term Point of sale financing for a period of up to 5 years, with the amount of S..R 15 million. Targeting small and medium enterprises with 1 to S..R 200 million annual income, to provide them with the latest technological demands when it comes to safety and efficiency to meet their needs.
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Feature
Feature
- The finance amount will be settled daily through POS
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Conditions
Conditions
- The establishment does not have any facilitation with Riyad Bank
- The establishment have POS with Riyad Bank for a period not less than 3 months
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Rates & Fees
Rates & Fees
The below 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
POS Financing Program
4% to 15%
0% to 5%
Method
The method of calculating the finance cost
Example (1):
Finance Amount
S..R 100,000
Payment Method
Monthly Installments
Payment Period
6 Months
Annual Profit Rate
4%
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 16864
S..R 1183
S..R 101183
Method
The method of calculating the finance cost
Example (2):
Finance Amount
S..R 100,000
Payment Method
Monthly Installments
Payment Period
6 Months
Annual Profit Rate
13%
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 17,318
S..R 3,905
S..R 103,905
Method
The method of calculating the finance cost
Example (3):
Finance Amount
S..R 100,000
Payment Method
Monthly Installments
Payment Period
6 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 17,419
S..R 4,512
S..R 104,512
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Need help?
Riyad Line:
800 124 2225
