APR Disclosure

Descriptive Examples Showing the APR based on the Credit Card limit


Al Rajhi Platinum Credit Card

Example Due Amount APR Finance APR Minimum Payment Amount % Months Until Balance Repaid*
1 SAR 10,000 22.5% 12% 5% 52 Months
2 SAR 20,000 17.18% 12% 5% 65 Months
3 SAR 75,000 13.37% 12% 5% 90 Months

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Al Rajhi Signature and SELECTIVE Credit Cards

Example Due Amount APR Finance APR Minimum Payment Amount % Months Until Balance Repaid*
1 SAR 20,000 20.42% 12% 5% 65 Months
2 SAR 50,000 15.32% 12% 5% 83 Months
3 SAR 75,000 14.21% 12% 5% 90 Months

Signature Credit Card, For More

SELECTIVE Credit Card , For More


Al Rajhi Infinite Credit Card

Example Due Amount APR Finance APR Minimum Payment Amount % Months Until Balance Repaid*
1 SAR 75,000 14.77% 12% 5% 90 Months
2 SAR 100,000 14.08% 12% 5% 96 Months
3 SAR 150,000 13.38% 12% 5% 104 Months

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*If the minimum payment amount made every month, it will take almost the months that appeared for each product in table to repay the full amount, keeping in view compounded interest added each month.

*APR may change based on the change in the financing amount and due date.


Auto Finance

The Annual Percentage Rate (APR):

It is the discount rate at which the present value of all payments and installments that are due from the Borrower, representing the Total Amount Payable by the Borrower, equals the present value of all payments of the Amount of Financing available to the Borrower on the date on which the Financing amount or the first payment thereof is available to the Borrower.

Illustration:


Asset Type Loan/Finance Amount Maturity in Years APR Monthly Repayment Amount Residual Value
Car 200,000 5 Years 5% 4,051 20,000

Non salary transfer

Asset Type Finance Amount Down payment Maturity in Years APR Monthly Repayment Amount Residual Value
Car 78,000 5,000 5 Years 8.60% 1,274 23,400

Example 3 : Car price different

Asset Type Finance Amount Maturity in Years APR Monthly Repayment Amount Residual Value
Car 90,000 5 Years 7.10% 1,332 60,000

*APR may differ depending on the amount and the maturity period different from above and subject to credit scoring of each customer.

Finance Amount:

The contract stipulates the amount of financing you will receive in addition to the period of repayment of the installments, stating their value and the maturity date of these installments. The data also include the cost of obtaining funding in terms of knowing the fixed term cost rate and management fees.

Maturity In Years:

The duration of the contract agreed upon between the parties, which shall indicate the date and expiry of the contract with the parties' with the terms of the contract

Monthly repayment amount:

These payments are recognized in the contract, and the lessee is obliged to pay them on the due dates. The contract shall also include a schedule of repayment installments, in which the value of the asset's rent and the value of the right of ownership shall be shown separately, provided that the premium for any period shall not be less than the principal's rent for that period in the contract.

Residual Value:

The last payment is usually 0 % to 35% of the car price which you decide to pay at the end of the lease. It makes the monthly rentals that you pay less, but you have to be ready to make a large payment at the end of the lease.


Home Finance

The Annual Percentage Rate (APR):

It is the discount rate at which the present value of all payments and installments that are due from the Borrower, representing the Total Amount Payable by the Borrower, equals the present value of all payments of the Amount of Financing available to the Borrower on the date on which the Financing amount or the first payment thereof is available to the Borrower. This is defined as per Article 81 of Implementing Regulations of the Finance Companies Control Law. In simple terms, APR is computed by adding all the upfront fees, charges and commissions charged from the customers and calculated on an annualized basis. The APR must be calculated and expressed in percentage points with a minimum of two basis points, rounding half basis points to the nearest full basis points.

Illustration:


Property Value Loan to Value Ratio Fixed or Variable Rate ** APR* Maturity in Years Payment Type *** Monthly Repayment Amount Early Payment Charges
1000000 90% Fixed 8.72% 30 years Principle and Interest / profit 6,812.50 Profit of future 3 installments

*APR may differ depending on the amount and the maturity period different from above and subject to credit scoring of each customer.

Loan/Finance Amount :

The amount of, on balance sheet loan granted to the customer.

Maturity In Years:

The contractual maturity of the on-balance sheet Loans/ Financing Products given to the customer. This is the final payment date of a Loan/Finance products at which point the principal (and all remaining interest/profit) is due to be paid.

Monthly Payment Amount:

Installment amount the customer is obliged to pay to the bank or finance company each month until the debt is fully repaid.

Property Market Value

Price negotiated between a willing buyer and a willing seller in an arm’s length transaction after fulfilling valuation criteria set by the banks . The value may not be the current listing price or the amount of the most recent offer on the property.

Loan to Value Ratio

Ratio of a loan provided by the Bank or Finance Company to the value of property purchased and determined as property market value .

Payment type

Interest only payment or , both principle and interest payment or else.

Early Payment Charge

A fee customer will be required to pay to a lender if the customer pays off a mortgage early and before the scheduled maturity term of the credit facility , also sometimes referred to as a Redemption Penalty.


Personal Finance

Disclosures & Definitions
Disclosure
Financing limits and other charges are subject to the relevant laws, regulations and other regulatory requirements
Definitions
Annual Percentage Rate It is the discount rate at which the present value of all payments and installments that are due from the borrower representing the total amount payable by the borrower, equals the present value of all payments of the amount of financing available to the borrower on the date on which the financing amount or the first payment thereof is available to the borrower.
Finance Amount The amount of, on balance sheet, finance granted to the customer
Maturity The contractual maturity of the on-balance sheet financing products given to the customer. This is the final payment date of financing products at which point the principal (and all remaining profit) is due to be paid.
Monthly Repayment Amount The installment amount the customer is obliged to pay to the bank each month until the debt is paid off.

Illustration
Finance Amount Maturity in years APR Monthly Payment Amount
100,000 5 years 5.5% 1,901