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Prices of financing and savings products
Last modification : 15th August 2020
1. Salary Assigned ?
Yes2. Customer Type?
SaudiFinancing Amount Required SAR
SAR 20,000 SAR 3,000,000
Tenor Years
1 year 5 years
Salary SAR
SAR 5,000 SAR 500,000
* Interest rates vary by tenor & subject to bank policy
* Management fees : 1% of finance amount (capped at SAR 5,000). Late payment fees : SAR 150. EMI deferment fees : SAR 100. Early settlement fees : 3 months term cost from date of finance closure.
*Management fees: 1% of finance amount (capped at SAR 5,000). Late payment fees: SAR 150. EMI deferment fees: SAR 100.
APR 55%
Management Fees 1000 SAR
Term Cost 1000 SAR
Total Repayment amount 1000 SAR
monthly installment is
SAR 2,730 *
APR may differ depending on the amount and maturity period and subject to credit scoring of each customer
*Subject to terms and conditions.
Fees & Charges
| Emirates NBD Credit Cards | Platinum | Platinum Plus | Mazeed Cashback | Infinite |
|---|---|---|---|---|
| Membership Fees | ||||
| Annual Fee | SAR 300 | Free | SAR 200 | SAR 700 |
| Supplementary Cards (Up to 5 Cards) | Free | Free | Free | Free |
| Other Fees and Charges | ||||
| Annual Percentage Rate (APR)* | 66.22% | 34.33% | 52.43% | 45.02% |
| Interest Rate (Retail Purchases) Interest Rate (Cash Advanse) |
2.20% | 2.49% | 2.20% | 2.20% |
| Cash Advance Fee | SAR 75 | SAR 75 | SAR 75 | SAR 75 |
| Late Payment Fee | SAR 100 | SAR 100 | SAR 100 | SAR 100 |
| Foreign Currency Transaction Fee | 2.20% | 2.20% | 2.20% | 2.20% |
| Card Replacement Fee | SAR 50 | SAR 50 | SAR 50 | SAR 50 |
| Copy of Sales Voucher | SAR 50 | SAR 50 | SAR 50 | SAR 50 |
| Credit Shield | 0.49% | 0.49% | 0.49% | 0.49% |
| Duplicate Statement Fee (per copy) | ||||
| Up to last 3 months | Free | Free | Free | Free |
| General | ||||
| Payment Due Date | 23 Days | 23 Days | 23 Days | 23 Days |
| Credit Period | Up to 53 Days | Up to 53 Days | Up to 53 Days | Up to 53 Days |
| Minimum Payment Due | 5% or SAR 100 (whichever is higher) | 5% or SAR 100 (whichever is higher) | 5% or SAR 100 (whichever is higher) | 5% or SAR 100 (whichever is higher) |
| Cash Advance Limit | 30% | 30% | 30% | 30% |
Example of how interest is calculated
- SME Financing Example
Product APR Management Fee Short Term loan between 4.5% and 10% 1.75% to 4% (of the financed amount) Medium Term Loan Between 5% and 10% 2% to 4% (of the financed amount) Examples:
- STL for Direct payment to Supplier for SAR 1,620,000 with tenor of 172 days and an APR of 5.5% would have a profit rate of SAR 42,547.86.
- STL for Direct payment to Supplier for SAR 600,000 with tenor of 123 days and an APR of 6.75% would have a profit rate of SAR 13,840.43.
- STL for Direct payment to Supplier for SAR 150,000 with tenor of 100 days and an APR of 8.2% would have a profit rate of SAR 3,452.38.
Example of how monthly installments are calculated
- Personal Finance Example
Islamic Salary Transfer Financing
- Example 1: For personal finance of SAR 200,000 over 60 months, the APR will be 5.32% and the monthly installment will be SAR 3,791
- Example 2: For personal finance of SAR 150,000 over 36 months, the APR will be 4.86% and the monthly installment will be SAR 4,479
- Example 3: For personal finance of SAR 100,000 over 12 months, the APR will be 4.21% and the monthly installment will be SAR 8,521
Islamic Non – Salary Islamic Financing
- Example 1: For personal finance of SAR 200,000 over 60 months, the APR will be 8.15% and the monthly installment will be SAR 4,042
- Example 2: For personal finance of SAR 150,000 over 36 months, the APR will be 8.26 % and the monthly installment will be SAR 4,698
- Example 3: For personal finance of SAR 100,000 over 12 months, the APR will be 8.04% and the monthly installment will be SAR 8,688
Islamic Balance Transfer Personal Financing
- Example 1: For personal finance of SAR 200,000 over 60 months, the APR will be 5.32% and the monthly installment will be SAR 3,791
- Example 2: For personal finance of SAR 150,000 over 36 months, the APR will be 4.86% and the monthly installment will be SAR 4,479
- Example 3: For personal finance of SAR 100,000 over 12 months, the APR will be 4.21% and the monthly installment will be SAR 8,521
- Credit Cards Example
Platinum, Mazeed Cashback and Infinite Credit Cards
Example 1 (Month 1): Assuming that the Cardholder is assigned the statement billing date as 7th day of every month and he does the following transactions in the billing period 7th March and 7th April.
- Retail purchases worth SAR 10,000 on March 10th
- Cash withdrawal of SAR 6,000 on 1st April
It is assumed that no previous balance is carried forward from the March 7th statement, the Cardholder will receive his April 7th statement detailing total transactions of SAR 16,075 (principal balance + cash advance fee of SAR 75 for every cash withdrawal).
The Cardholder needs to make a payment towards the outstanding within 23 days from the statement date (due date: April 30th). The payment can range between 5% and 100% of the outstanding amount.
Total interest charges for cash advance billed in the statement of April 7th will be SAR 6,075 x 26.4% x 7 days / 360 days* = SAR 31.19
* Interest on cash advance transactions is calculated on a daily basis since date of transaction until cash advance transaction amount is fully settled.
Example 2 (Month 2): In the following month starting April 7th, Cardholder will have the carry forward balance of SAR 16,106.19. In case a partial payment of SAR 3,000 is received on April 29th, interest charges for the May 7th statement will be calculated as per the following:
- Retail transaction since date of transaction (Mar 10th) until date of payment (April 29th): SAR 10,000 x 26.4% x 50 days / 360 days** = SAR 366.67
- Retail transaction since date of payment (April 29th) until statement issuance date (May 7th): SAR 10,000 x 26.4% x 9 days / 360 days** = SAR 66.00
- Cash balance since last statement issuance date (April 7th) until date of payment (April 29th): SAR 6,106.19 x 26.4% x 21 days / 360 days = SAR 94.04
- Cash balance since date of payment (April 29th) until statement issuance date (May 7th): SAR 3,106.19 x 26.4% x 9 days / 360 days = SAR 20.50
Total interest charges billed in the statement of May 7th will be SAR 547.20
**Interest on retail transactions is calculated on a daily basis since date of transaction, if the outstanding balance is not fully settled by the payment due date.
Example 3 (Month 3): Starting May 7th, Cardholder will have the carry forward balance of SAR 13,653.39. In case the customer does following transactions during this month:
- Partial payment of SAR 3,500 on May 10th
- Retail transaction of SAR 3,000 on May 16th
- Cash withdrawal transaction of SAR 600 on May 18th
Interest charges will be calculated as per the following:
- Retail balance since last statement issuance date (May 7th) until date of payment (May 10th): SAR 10,432.67 x 26.4% x 2 days / 360 days = SAR 15.30
- Retail balance since date of payment (May 10th) until statement issuance date (June 7th): SAR 10,000 x 26.4% x 29 days / 360 days = SAR 212.67
- Cash balance since last statement issuance date (May 7th) until date of payment (May 10th): SAR 3,220.72 x 26.4% x 2 days / 360 days = SAR 4.72
- Cash balance since date of payment (May 10th) until statement issuance date (June 7th): SAR 153.39 x 26.4% x 29 days / 360 days = SAR 3.26
- New cash advance since date of transaction (May 18th) until statement issuance date (June 7th)* : SAR 675 x 26.4% x 21 days / 360 = SAR 10.40
Total interest charges billed in the 7th of June statement will be SAR 246.35
Platinum Plus Credit Card
Example 1 (Month 1): Assuming that the Cardholder is assigned the statement billing date as 7th day of every month and he does the following transactions in the billing period 7th March and 7th April.
- Retail purchases worth SAR 10,000 on March 10th
- Cash withdrawal of SAR 6,000 on 1st April
It is assumed that no previous balance is carried forward from the March 7th statement, the Cardholder will receive his April 7th statement detailing total transactions of SAR 16,075 (principal balance + cash advance fee of SAR 75 for every cash withdrawal).
The Cardholder needs to make a payment towards the outstanding within 23 days from the statement date (due date: April 30th). The payment can range between 5% and 100% of the outstanding amount.
Total interest charges for cash advance billed in the statement of April 7th will be SAR 6,075 x 29.88% x 7 days / 360 days* = SAR 35.30
* Interest on cash advance transactions is calculated on a daily basis since date of transaction until cash advance transaction amount is fully settled.
Example 2 (Month 2): In the following month starting April 7th, cardholder will have the carry forward balance of SAR 16,110.30. In case a partial payment of SAR 3,000 is received on April 29th, interest charges for the May 7th statement will be calculated as per the following:
- Retail transaction since date of transaction (Mar 10th) until date of payment (April 29th): SAR 10,000 x 29.88% x 50 days / 360 days** = SAR 514.00
- Retail transaction since date of payment (April 29th) until statement issuance date (May 7th): SAR 10,000 x 29.88% x 9 days / 360 days** = SAR 74.70
- Cash balance since last statement issuance date (April 7th) until date of payment (April 29th): SAR 6,110.30 x 29.88% x 21 days / 360 days = SAR 106.50
- Cash balance since date of payment (April 29th) until statement issuance date (May 7th): SAR 3,110.30 x 29.88% x 9 days / 360 days = SAR 23.23
Total interest charges billed in the statement of May 7th will be SAR 619.44
**Interest on retail transactions is calculated on a daily basis since date of transaction, if the outstanding balance is not fully settled by the payment due date.
Example 3 (Month 3): Starting May 7th, Cardholder will have the carry forward balance of SAR 13,729.73. In case the customer does following transactions during this month:
- Partial payment of SAR 3,500 on May 10th
- Retail transaction of SAR 3,000 on May 16th
- Cash withdrawal transaction of SAR 600 on May 18th
Interest charges will be calculated as per the following:
- Retail balance since last statement issuance date (May 7th) until date of payment (May 10th): SAR 10,489.70 x 29.88% x 2 days / 360 days = SAR 17.41
- Retail balance since date of payment (May 10th) until statement issuance date (June 7th): SAR 10,000 x 29.88% x 29 days / 360 days = SAR 240.70
- Cash balance since last statement issuance date (May 7th) until date of payment (May 10th): SAR 3,240.03 x 29.88% x 2 days / 360 days = SAR 5.38
- Cash balance since date of payment (May 10th) until statement issuance date (June 7th): SAR 229.73 x 29.88% x 29 days / 360 days = SAR 5.53
- New cash advance since date of transaction (May 18th) until statement issuance date (June 7th)* : SAR 675 x 29.88% x 21 days / 360 = SAR 11.77
Total interest charges billed in the 7th of June statement will be SAR 280.79
Foreign Payment example
- Assuming a conversions rate from currency A to Saudi Riyal: 2.5%
- Amount in Saudi Riyal: SAR 1,000 + (SAR 1,000 x 2.5%) = SAR 1,025
- Foreign currency transaction fees: SAR 1,025 x 2.2% = SAR 22.55
- Total transaction payment in Saudi Riyal: SAR 1,025 + SAR 22.55 = SAR 1,047.55
- The conversion from foreign currency to Saudi Riyal is done by the respective schemes that are VISA/MasterCard as per their prevailing rates for the day
Disclosure Schedule
Card APR Annual Interest Rate Monthly Minimum Payment % Months to Payoff Balance Annual Fee Platinum 66.22% 26.4% 5% 72 7,000 SAR 300 Platinum Plus 34.33% 29.88% 5% 78 7,000 Free Mazeed Cashback 52.43% 26.4% 5% 72 7,000 SAR 200 Infinite 45.02% 26.4% 5% 72 7,000 SAR 700 - Ijarah Home Financing Example
APR Example Property Value LTV Ratio Fixed or Floating rate APR Loan Tenor Payment type Monthly Installment Early settlement fees 1,000,000 90% Fixed 6.48% 10 Years Principle and profit amount 10,125 3 months future profit APR Example Property Value LTV Ratio Fixed or Floating rate APR Loan Tenor Payment type Monthly Installment Early settlement fees 1,500,000 90% Fixed 7.22% 20 Years Principle and profit amount 10,462 3 months future profit APR Example Property Value LTV Ratio Fixed or Floating rate APR Loan Tenor Payment type Monthly Installment Early settlement fees 2,000,000 90% Fixed 7.36% 30 Years Principle and profit amount 12,125 3 months future profit - Auto Lease Financing Example
Salary Transfer Auto Lease Financing
- Example 1:For New Auto Finance of SAR 100,000 over 60 months, the APR will be 10.33% and the monthly installment will be SAR 1,715
- Example 2:For Certified Pre-Owned Auto Finance of SAR 100,000 over 48 months, the APR will be 12.90% and the monthly installment will be SAR 2,415
- Example 3: For 50/50 Program Auto Finance of SAR 100,000 over 24 months, the APR will be 12.66% and the monthly installment will be SAR 1,098
Non Salary Transfer Auto Lease Financing
- Example 1:For New Auto Finance of SAR 100,000 over 60 months, the APR will be 11.65% and the monthly installment will be SAR 1,768
- Example 2:For Certified Pre-Owned Auto Finance of SAR 100,000 over 48 months, the APR will be 14.19% and the monthly installment will be SAR 2,478
- Example 3: For 50/50 Program Auto Finance of SAR 100,000 over 24 months, the APR will be 12.66% and the monthly installment will be SAR 1,098
Self-Employed Auto Lease Financing
- Example 1:For New Auto Finance of SAR 100,000 over 60 months, the APR will be 12.57% and the monthly installment will be SAR 1,797
- Example 2:For Certified Pre-Owned Auto Finance of SAR 100,000 over 48 months, the APR will be 15.45% and the monthly installment will be SAR 2,540
- Example 3: For 50/50 Program Auto Finance of SAR 100,000 over 24 months, the APR will be 12.66% and the monthly installment will be SAR 1,098
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