annual profit rate (apr)
Example for Platinum credit card with credit limit of SAR 10,000:
APR
|
Credit Card Purchase Rate*
|
Minimum Repayment Percentage
|
Months Until Balance Repaid **
|
36.46%
|
1.95 % Monthly
|
5%
|
76 months
|
41.42%
|
2.25% Monthly
|
82 months
|
45.68%
|
2.50% Monthly
|
88 months
|
The above table is an example.
*The actual Credit Card Purchase rate is based on the customer’s salary and the employer’s classification.
**If only minimum repayment is made every month, it will take 76 months to repay the full amount, keeping in mind the compounded interest added each month.
Finance Amount
|
Maturity in Year
|
APR
|
Monthly Repayment Amount
|
SR 300,000
|
5 Years
|
%3.58
|
SR 5,397.5
|
The above table is an example, and subject to change based on the credit history, employer, age, finance value, finance tenor, salary, etc…
1. (purchasing ready unit, self-construction and mortgage)
- For customers purchasing the first house:
Property market value
|
Finance to value ratio
|
Fixed or variable rate
|
APR
|
Maturity in Year
|
Payment type
|
Monthly repayment amount
|
Early payment charge
|
SR 500,000
|
90%
|
Fixed
|
5.72%
|
20 years
|
Principal & profit
|
SR 3,078.75
|
Profits of 3 months future payments
|
The above table is an example, and subject to change based on the credit history, employer, age, finance value, finance tenor, salary, etc…
- For customers purchasing the second house:
Property market value
|
Finance to value ratio
|
Fixed or variable rate
|
APR
|
Maturity in Year
|
Payment type
|
Monthly repayment amount
|
Early payment charge
|
SR 500,000
|
70%
|
Fixed
|
5.72%
|
20 years
|
Principal & profit
|
SR 2,394.58
|
Profits of 3 months future payments
|
The above table is an example, and subject to change based on the credit history, employer, age, finance value, finance tenor, salary, etc…
2. (units under construction)
Property market value
|
Finance to value ratio
|
Fixed or variable rate
|
APR
|
Maturity in Year
|
Payment type
|
Monthly repayment amount
|
Early payment charge
|
SR 500,000
|
90%
|
Fixed
|
5.72%
|
20 years
|
Portion of the Profit only will be paid during the construction period
The Principal & profit will be paid when the construction is completed
|
SR 3,078.75
|
Profits of 3 months future payments
|
The above table is an example, and subject to change based on the credit history, employer, age, finance value, finance tenor, salary, etc…
-
AUTO LEASE ( RESIDUAL FINAL PAYMENT REFINANCE)
Asset Type
|
Maturity in Year
|
APR
|
Monthly repayment amount
|
Residual value
|
Car (Refinance of Residual Value)
|
1 Year
|
43.58%
|
SR 1,008.25
|
SR 10,000
|
Car (Refinance of Residual Value)
|
1 Year
|
23.08%
|
SR 3,258.04
|
SR 35,000
|
Car (Refinance of Residual Value)
|
2 Years
|
26.29%
|
SR 1,316.46
|
SR 25,000
|
The above figures are an example and subject to change based on the credit history, employer, age, finance value, finance tenor, salary,Car value etc..
-
AL GHAD AL MUBARAK ACCOUNT
Deposit amount*
|
Profit calculation
|
Profit payment
|
AER
|
Number of withdrawals permitted for earning profit
|
SR. 2,500
|
Monthly
|
Half-Yearly
|
0.25%
|
2 per Month
|
SR 50,000
|
Monthly
|
Half Yearly
|
0.25%
|
2 per month
|
SR 100,000
|
Monthly
|
Half Yearly
|
0.25%
|
2 per month
|
The above table is an example. The AER and number of withdrawals permitted for earning profit are subject to change based on the market conditions.
*Minimum required monthly deposit to earn profit is SR 2,500.
*Terms and Conditions Apply