An additional finance may be obtained if the deduction percentage of the personal loan product does not exceed 33.33% or if the customer’s salary is increased.
Additional finance program has the following features:
- Islamic Sharia-compliant .
- Immediate approval .
- Repayment through facilitated installments for up to 5 years .
- Insurance in case of death or disability .
- Repayment periods up to 60 months .
- Possibility of receiving finance by commodities or shares
Terms and conditions applied
Administrative fees: 1% of finance amount or SAR 5,000 (whichever is less)
Administrative fees is included in APR
|Finance Amount||Maturity in Years||*APR||Monthly Payment Amount|
|100,000 SAR||5 Years||5.70 %||1,913 SAR|
The table above and its numbers is an illustrative example only to show the annual percentage rate, which is dependent on three variables (Finance amount, profit rate, and loan tenor)