Islamic Credit facilitation for Start-Ups
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Islamic Credit facilitation for Start-Ups
Finance
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Riyad Bank offers Islamic Credit Facilities designed specifically to Start-Ups, to finance Capital Expenditure as well as Working Capital needs of Start-Ups with a repayment period of one year (maximum).
Conditions:
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Meeting the minimum credit/risk acceptance criteria of Riyad Bank
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The owner/business/entity should be mentored/sponsored by one of the government or semi-government educative and/or financing programs, such as WAED of Saudi Aramco, NUSANED of SABIC, Endeavor Saudi Arabia, BADIR, DULANI… etc.)
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When applicable, obtaining KAFALAH program approval on the financing
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Working capital finance shall be disbursable after the full commercial operations of the start-up
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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%
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* 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
Monthly Installments
Payment Period
60 Months
Annual Profit Rate
8%
Finance Amount
Installment Amount
Total Bank Profit
Finance Amount Including Profits
SAR 100,000
SAR 2,337
SAR 40,235
SAR 140,235
Example (3):
Title 1
Title 2
Finance Amount
SAR 100,000
Payment Method
Monthly Installments
Payment Period
36 Months
Annual Profit Rate
7%
Finance Amount
Installment Amount
Total Bank Profit
Finance Amount Including Profits
SAR 100,000
SAR 3,369
SAR 21,292
SAR 121,292
Credit Faciliation
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