Key features
- Use up to 95% of the credit card limit in installments
- Valid for all purchases
- Valid for credit cards only (not applicable for charge or corporate cards, for which the full outstanding amount is payable every month)
Approved by Shariah Board for Shariah Compliant Credit cards
The following table highlights the minimum and maximum transaction amount for respective term/tenure
| Repayment Term (Month) | 6
| 12
| 24
|
|---|
Minimum Transaction Amount (SAR)
| 1,000
| 2,000
| 5,000
|
Maximum Transaction
| Amount (SAR) UP to a maximum of available Credit Limit |
The table below is an example of how Easy Payment Plan (EPP) works based on a transaction of SAR 5,000 converted in to the EPP for 6, 12 and 24 month tenors
EPP Installment Calculation - SAR 5,000 Transaction
| 6 Months
| 12 Months
| 24 Months
|
|---|
Annual percentage rate (APR)
| 0%
| 0%
| 24% (12% annual rate)
|
Monthly Installment (SAR)
| 833.3
| 416.7
| 258.3
|
Administration Fee (Fixed amount)
| 113.85
| 228.85
| 57.5
|