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
|
5.42%
|
20 years
|
Principal & profit
|
SR 3,007.50
|
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
|
5.42%
|
20 years
|
Principal & profit
|
SR 2,339.17
|
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
|
5.42%
|
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 3,007.50
|
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..
SME Finance
|
Product
|
Finance Amount (SR)*
|
Finance Tenure
|
APR
|
Management Fees
|
Management Fees
Amount (SR)
|
Average Monthly Instalment (SR)*
|
|
Short Term Finance
|
1,000,000
|
12 Months
|
6%
|
2%
|
20,000
|
86,068
|
|
Medium Term Finance
|
1,000,000
|
24 Months
|
7%
|
3%
|
30,000
|
44,741,31,
|
|
Medium Term Finance
|
1,000,000
|
36 Months
|
8%
|
4%
|
40,000
|
31,246
|
The above table is an example of short and medium-term finance including the profit margin, bearing in mind that the monthly installment amount is variable in order to apply the profit margin to the remaining balance of the finance, as the principal finance amount remains the same during the tenure period without any change, but the amount of the profit margin changes decreasingly with the decreasing of the principal of the finance.
Note: The finance amount, profit margin, management fees and early settlement fees may change based on the credit policies of the Bank and the risks associated with the finance.
-
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