Point of Sale Finance

Riyad Bank provides a short term Point of sale financing for a period of up to 6 months, with the amount of 1 million SAR. Targeting small and medium enterprises with 3 to 40 million SAR annual income, to provide them with the latest technological demands when it comes to safety and efficiency to meet their needs.

Feature:

The finance amount will be settled daily through POS

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

Rates & Fees:

Product

Annual Percentage Rate (APR)

Administrative fees

Administrative fees Min or Max Limit

POS Financing Program

4% 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

6 Months

Annual Profit Rate

Finance Amount

Installment Amount

Finance Amount including Profits

SAR 100,000

SAR 16864

SAR 1183

SAR 101183

Example (2):

Title 1

Title 2

Finance Amount

SAR 100,000

Payment Method

Monthly Installments

Payment Period

6 Months

Annual Profit Rate

13%

Finance Amount

Installment Amount

Total Bank Profit

Finance Amount including Profits

SAR 100,000

SAR 17,318

SAR 3,905

SAR 103,905

Example (3):

Title 1

Title 2

Finance Amount

SAR 100,000

Payment Method

Monthly installments

Payment Period

6 Months

Annual Profit Rate

15%

Finance Amount

Installment Amount

Total Bank Profit

Finance Amount including Profits

SAR 100,000

SAR 17,419

SAR 4,512

SAR 104,512

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