| Minimum Balance Required | Currencies | Features | |
|---|---|---|---|
Riyad Bank - Current Account
|
Minimum Balance: USD 1,000 | Currencies: GBP, USD, EUR | Features: Multiple Currencies, Free Cheque Book |
Features:
Documents Required:
- Free cheque book
- Free Internet Banking
- Easy access to your funds
- Alert notifications
- Easy to monitor transactions
- Free access to Riyad Online
- Free alert notifications
- Keeps your cash safe and secure
- Available to all Riyad Bank customers
- National ID for Saudis nationals
- Iqama for non-Saudis nationals
- Clear Postal Address (additional home address is required for non-Saudis)
** Calculator Definitions
Amount:
The total amount of money borrowed, also referred to as the principal amount.
Rate (%):
This is the annual interest rate on the product which is equivalent to APR, which is going to be calculated in this example.
Years:
This is the original term or length of the product, stated in years.
Effective Monthly Payment:
This is the effective monthly payment, which takes into consideration fees and other costs associated with this product. The effective monthly payment is the basis for the APR calculation.
Calculated Annual Percentage Rate (%):
The Calculated Annual Percentage Rate (APR) is determined using the annual interest rate of the product plus fees and other costs. This rate may differ from bank to bank. APR is useful when comparing two or more products with different interest rates and fee structures.
