Obtaining personal finance is an important tool for achieving the financial goals of individuals in the Kingdom of Saudi Arabia.
But before applying for personal financing, it is important to understand how the financing cost is calculated accurately to avoid any surprises in the future.
Factors for calculating personal finance:
Calculating the cost of personal finance in Saudi Arabia includes many factors, including:
- Financing amount: It is the total amount you borrow from the financing party.
- Financing term: This is the period of time during which you will repay the loan, usually measured in years or months.
- Interest rate: This is the percentage that a lender charges to lend you money, usually expressed as an annual percentage.
- Finance fees: These are additional fees that may be imposed by the financing party, such as processing fees and insurance fees.
Methods for calculating the cost of personal finance:
There are two main ways to calculate the cost of personal finance:
- Financial calculator: Many banks and finance companies provide financial calculators on their websites that allow you to calculate the cost of financing based on the factors mentioned above.
- Manual formula: You can also calculate the financing cost manually using a simple mathematical formula.
Example of calculating the cost of personal finance:
Suppose you borrow SAR 100,000 for 5 years at an interest rate of 5% per annum.
In this case, you can calculate the financing cost using the following formula:
Total cost = financing amount * interest rate * financing term
Total cost = 100,000 SAR * 0.05 * 5 = 25,000 SAR
note:
- This is a simplified example, and the actual financing cost may vary based on the above factors, as well as the financing party’s terms and conditions.
- It is important to compare financing offers from different parties before applying for a loan.
What are the best financing companies?
The Quara Finance application offers you the easiest way to control the financial obligations related to your finances 24 hours a day and from anywhere in the world. It helps you manage financing operations in an easy and effective manner and control all operations directly from the application without the need to follow payment dates, and arrange installments and dues because they are now at your fingertips.
Cash with “cash”…conveniences
Get the cash you need with quick procedures and flexible terms, and pay your installments at your convenience with financing up to 100,000 riyals that meets all your needs to buy a car or cover your wedding or travel costs and more.
Financing advantages:
Financing up to 100,000 riyals (depending on the partner)
Available to Saudis and residents in all sectors
Without a sponsor and without a salary transfer
Financing in comfortable installments of up to 3 years
Fast procedures and instant approval
Compatible with the provisions of Islamic Sharia
Expand through Quara Finance
To finance small and medium enterprises
A financing program with flexible benefits that contributes to supporting, developing and expanding your existing project to reach new heights.
Advantages
Financing up to 15 million riyals
Easy and fast financing procedures
Repayment period of up to 3 years
Supporting operational cycle productivity
Tips for getting the best personal finance offer:
- Accurately determine your financial needs: Before starting to search for personal financing, it is important to accurately determine your financial needs, including the amount of financing required and the repayment period.
- Compare financing offers from different parties: Do not limit yourself to one offer from the financing party, but rather compare offers from different parties to find out the best interest rate, terms and conditions.
- Read the financing terms and conditions carefully: Before signing any financing contract, make sure you read the financing terms and conditions carefully and understand all fees and costs associated with the loan.
- Ask about early repayment options: Some lenders may allow you to repay the loan before its due date, which can help you save money on interest.
Understanding how the cost of personal finance is calculated is essential before applying for a loan.
By comparing financing offers from different entities and carefully understanding the financing terms and conditions, you can be sure to get the best offer for your financial needs.
Obtaining personal finance is an important tool for achieving the financial goals of individuals in the Kingdom of Saudi Arabia.
But before applying for personal financing, it is important to understand how the financing cost is calculated accurately to avoid any surprises in the future.
Factors for calculating personal finance:
Calculating the cost of personal finance in Saudi Arabia includes many factors, including:
- Financing amount: It is the total amount you borrow from the financing party.
- Financing term: This is the period of time during which you will repay the loan, usually measured in years or months.
- Interest rate: This is the percentage that a lender charges to lend you money, usually expressed as an annual percentage.
- Finance fees: These are additional fees that may be imposed by the financing party, such as processing fees and insurance fees.
Methods for calculating the cost of personal finance:
There are two main ways to calculate the cost of personal finance:
- Financial calculator: Many banks and finance companies provide financial calculators on their websites that allow you to calculate the cost of financing based on the factors mentioned above.
- Manual formula: You can also calculate the financing cost manually using a simple mathematical formula.
Example of calculating the cost of personal finance:
Suppose you borrow SAR 100,000 for 5 years at an interest rate of 5% per annum.
In this case, you can calculate the financing cost using the following formula:
Total cost = financing amount * interest rate * financing term
Total cost = 100,000 SAR * 0.05 * 5 = 25,000 SAR
note:
- This is a simplified example, and the actual financing cost may vary based on the above factors, as well as the financing party’s terms and conditions.
- It is important to compare financing offers from different parties before applying for a loan.
What are the best financing companies?
The Quara Finance application offers you the easiest way to control the financial obligations related to your finances 24 hours a day and from anywhere in the world. It helps you manage financing operations in an easy and effective manner and control all operations directly from the application without the need to follow payment dates, and arrange installments and dues because they are now at your fingertips.
Cash with “cash”…conveniences
Get the cash you need with quick procedures and flexible terms, and pay your installments at your convenience with financing up to 100,000 riyals that meets all your needs to buy a car or cover your wedding or travel costs and more.
Financing advantages:
Financing up to 100,000 riyals (depending on the partner)
Available to Saudis and residents in all sectors
Without a sponsor and without a salary transfer
Financing in comfortable installments of up to 3 years
Fast procedures and instant approval
Compatible with the provisions of Islamic Sharia
Expand through Quara Finance
To finance small and medium enterprises
A financing program with flexible benefits that contributes to supporting, developing and expanding your existing project to reach new heights.
Advantages
Financing up to 15 million riyals
Easy and fast financing procedures
Repayment period of up to 3 years
Supporting operational cycle productivity
Tips for getting the best personal finance offer:
- Accurately determine your financial needs: Before starting to search for personal financing, it is important to accurately determine your financial needs, including the amount of financing required and the repayment period.
- Compare financing offers from different parties: Do not limit yourself to one offer from the financing party, but rather compare offers from different parties to find out the best interest rate, terms and conditions.
- Read the financing terms and conditions carefully: Before signing any financing contract, make sure you read the financing terms and conditions carefully and understand all fees and costs associated with the loan.
- Ask about early repayment options: Some lenders may allow you to repay the loan before its due date, which can help you save money on interest.
Understanding how the cost of personal finance is calculated is essential before applying for a loan.
By comparing financing offers from different entities and carefully understanding the financing terms and conditions, you can be sure to get the best offer for your financial needs.
Obtaining personal finance is an important tool for achieving the financial goals of individuals in the Kingdom of Saudi Arabia.
But before applying for personal financing, it is important to understand how the financing cost is calculated accurately to avoid any surprises in the future.
Factors for calculating personal finance:
Calculating the cost of personal finance in Saudi Arabia includes many factors, including:
- Financing amount: It is the total amount you borrow from the financing party.
- Financing term: This is the period of time during which you will repay the loan, usually measured in years or months.
- Interest rate: This is the percentage that a lender charges to lend you money, usually expressed as an annual percentage.
- Finance fees: These are additional fees that may be imposed by the financing party, such as processing fees and insurance fees.
Methods for calculating the cost of personal finance:
There are two main ways to calculate the cost of personal finance:
- Financial calculator: Many banks and finance companies provide financial calculators on their websites that allow you to calculate the cost of financing based on the factors mentioned above.
- Manual formula: You can also calculate the financing cost manually using a simple mathematical formula.
Example of calculating the cost of personal finance:
Suppose you borrow SAR 100,000 for 5 years at an interest rate of 5% per annum.
In this case, you can calculate the financing cost using the following formula:
Total cost = financing amount * interest rate * financing term
Total cost = 100,000 SAR * 0.05 * 5 = 25,000 SAR
note:
- This is a simplified example, and the actual financing cost may vary based on the above factors, as well as the financing party’s terms and conditions.
- It is important to compare financing offers from different parties before applying for a loan.
What are the best financing companies?
The Quara Finance application offers you the easiest way to control the financial obligations related to your finances 24 hours a day and from anywhere in the world. It helps you manage financing operations in an easy and effective manner and control all operations directly from the application without the need to follow payment dates, and arrange installments and dues because they are now at your fingertips.
Cash with “cash”…conveniences
Get the cash you need with quick procedures and flexible terms, and pay your installments at your convenience with financing up to 100,000 riyals that meets all your needs to buy a car or cover your wedding or travel costs and more.
Financing advantages:
Financing up to 100,000 riyals (depending on the partner)
Available to Saudis and residents in all sectors
Without a sponsor and without a salary transfer
Financing in comfortable installments of up to 3 years
Fast procedures and instant approval
Compatible with the provisions of Islamic Sharia
Expand through Quara Finance
To finance small and medium enterprises
A financing program with flexible benefits that contributes to supporting, developing and expanding your existing project to reach new heights.
Advantages
Financing up to 15 million riyals
Easy and fast financing procedures
Repayment period of up to 3 years
Supporting operational cycle productivity
Tips for getting the best personal finance offer:
- Accurately determine your financial needs: Before starting to search for personal financing, it is important to accurately determine your financial needs, including the amount of financing required and the repayment period.
- Compare financing offers from different parties: Do not limit yourself to one offer from the financing party, but rather compare offers from different parties to find out the best interest rate, terms and conditions.
- Read the financing terms and conditions carefully: Before signing any financing contract, make sure you read the financing terms and conditions carefully and understand all fees and costs associated with the loan.
- Ask about early repayment options: Some lenders may allow you to repay the loan before its due date, which can help you save money on interest.
Understanding how the cost of personal finance is calculated is essential before applying for a loan.
By comparing financing offers from different entities and carefully understanding the financing terms and conditions, you can be sure to get the best offer for your financial needs.
50,000 ريال سعودي من شركة قارة المالية مع موافقة سريعة وجدول سداد مرن مصمم ليناسب احتياجاتك.