Islamic credit facilities program - Short term
Breadcrumb
Islamic credit facilities program - Short term
Finance
Convert your purchases with AlHokair Group
Navigation Menu
Riyad Bank offers you an Islamic credit facilities program, Tawarruq Funding and/or Letters of Credit (with refinancing) and/or all types of Bank Guarantees (Primarily, Performance, advance payments, or financial) to finance the working capital of enterprises with a repayment period of one year (maximum).
Conditions:
-
Meeting the minimum credit/risk acceptance criteria of Riyad Bank
-
Minimum business age is one year, and have a permanent location/outlet
-
Presenting a bank account statement of one year
-
When applicable, obtaining KAFALAH program approval on the financing
-
Terms and conditions apply
Rates & Fees:
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
Credit Faciliation
Error:Internal problem, try after some time
Error:Enter all inputs
Thank you, we will contact you soon.
Error:Captcha validation error
Please complete the form below
RbPageFeedbackWeb
Thank you for your response