Payroll Lending for Corporate
Micro Enterprises
Small & Medium Enterprises
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Payroll Lending for Corporate
Riyad Bank offers payroll financing solutions to empower businesses and support their growth
Feature
Feature
- Financing up to 10 million SAR
- The program includes multiple activities
- Flexible payment plans
- Competitive rates
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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
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%
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 101,480
Example (2):
Finance Amount
S..R 100,000
Payment Method
One Payment
Payment Period
3 Months
Annual Profit Rate
6%
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
Example (3):
Finance Amount
S..R 100,000
Payment Method
One Payment
Payment Period
3 Months
Annual Profit Rate
15%
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
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Conditions
Conditions
- Bank statement for one year in the bank or other local banks or equivalent
- Salary statement approved by GOSI
- Customer must have been in business for at least one year from the date of commercial registration for small enterprises and three years for medium enterprises.
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Apply Online - Payroll Lending For Corporate
Riyad Bank provides you with Payroll Financing which provides Small and Medium enterprises with annual sales ranging from 3 to 200 million, a payroll finance up 10 million SAR with facilitating installments plan, to promote their market competitiveness and help them to attract and retaining national talents.
Please complete the form below
EEU / Lending products
- Mada transactions : if the TXN < S..R 100 the fee will be 0.70%, If the TXN >= S..R 100 the fee will be 0.80 % Cap S..R 160.
- Visa , MasterCard , UPI transactions : 2.50%
- GCCNet transactions : 1.50% Cap S..R 80
- Card fees = 100 SR
- Service monthly fee = 50 SR
- Reissue of PIN = 15 SR
- Set up fees = 10000 SR
- Monthly Maintenance fees = 500 SR
- Fee per user = 100 SR
- Fee per transaction = 2 SR
- Visa/Mastercard Service Charge = 4.25%
- Refund Fee = 3 SR
- Charge Back Fee = Free of Charge
- Fail Transaction Fee = Free of Charge
- Card fees = 100 SR
- Service charges for each transfer:
- Riyad Bank Accounts = 0
- Local Bank Accounts = S..R 7
- Global Bank Accounts = S..R 80
- Services charges per MyPay card
- Recurring fees (Monthly) = 0
- Reissue of card = S..R 50
- Iqama verification fee
- Service setup fees = S..R 5000
- Service charges for each transfer:
- Local Bank Accounts = S..R 7
- Same Day fees = 7 SR
- Future day fees = 5 SR
- Local Bank Accounts = S..R 7
- Global Bank Accounts = S..R 80
- Card issue = S..R 1000
- Annual fee =S..R 300
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Need help?
Riyad Line:
800 124 2225
