Examples of Early Repayment Amount Calculation | SAMA Rulebook

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Examples of Early Repayment Amount Calculation

No: NA

Date(g): 1/8/2015 | Date(h): 16/10/1436

Status: In-Force

Translated Document

Example (1) Early Repayment Calculation Method for Personal Financing
Financing Details	Personal financing agreement of (50,000) SAR to be repaid in monthly installments of (4,244) SAR over (12) months.
Early Repayment Calculation Method	If the client wishes to repay early and there are (6) installments remaining, the outstanding balance of the financing amount is (25,212.74) SAR, and the total cost of the term for the next three months prior to the early repayment is (179.27) SAR.
Early Repayment Amount (Total of the highlighted amounts)	25,212.74 + 179.27 = (25,392 SAR)

Month	Initial balance	Monthly EMI	Cost of Term Amount	Principal Amount	Ending Balance
1	50,000.00	4244	142.03	4,101.97	45,898.03
2	45,898.03	4244	130.38	4,113.62	41,784.41
3	41,784.41	4244	118.69	4,125.31	37,659.10
4	37,659.10	4244	106.97	4,137.03	33,522.08
5	33,522.08	4244	95.22	4,148.78	29,373.30
6	29,373.30	4244	83.44	4,160.56	25,212.74
7	25,212.74	4244	71.62	4,172.38	21,040.36
8	21,040.36	4244	59.77	4,184.23	16,856.13
9	16,856.13	4244	47.88	4,196.12	12,660.01
10	12,660.01	4244	35.96	4,208.04	8,451.97
11	8,451.97	4244	24.01	4,219.99	4,231.98
12	4,231.98	4244	12.02	4,231.98	0.00

Example (2) Calculation Method for Early Repayment of Financial Lease for Vehicles Ending in Ownership
Financing Details	Financial lease agreement for a vehicle worth (150,000) Riyals, Monthly payment amount: (2,300) Riyals for (60) months, Down payment: (30,000) Riyals, Administrative fees: (1,000) Riyals payable upon signing the contract.
Early Repayment Calculation Method	If the customer wishes to make an early repayment and has (24) payments remaining, the remaining balance of the financing amount is (52,084.08) Riyals, and the total cost of the term for the next three months after the early repayment is (705.58) Riyals.
Early Repayment Amount (Total of the highlighted amounts)	52,084.08 + 705.58 = (52,789.66 Riyals)

Month	Initial balance	Monthly EMI	Value of Asset Rent	Value of Ownership Right	Ending Balance
1	120,000	2300	564.18	1,735.82	118,264.18
2	118,264.18	2300	556.02	1,743.98	116,520.19
3	116,520.19	2300	547.82	1,752.18	114,768.01
4	114,768.01	2300	539.58	1,760.42	113,007.59
5	113,007.59	2300	531.30	1,768.70	111,238.89
6	111,238.89	2300	522.99	1,777.01	109,461.88
7	109,461.88	2300	514.63	1,785.37	107,676.51
8	107,676.51	2300	506.24	1,793.76	105,882.75
9	105,882.75	2300	497.80	1,802.20	104,080.55
10	104,080.55	2300	489.33	1,810.67	102,269.88
11	102,269.88	2300	480.82	1,819.18	100,450.70
12	100,450.70	2300	472.27	1,827.73	98,622.97
13	98,622.97	2300	463.67	1,836.33	96,786.64
14	96,786.64	2300	455.04	1,844.96	94,941.68
15	94,941.68	2300	446.37	1,853.63	93,088.05
16	93,088.05	2300	437.65	1,862.35	91,225.70
17	91,225.70	2300	428.90	1,871.10	89,354.59
18	89,354.59	2300	420.10	1,879.90	87,474.69
19	87,474.69	2300	411.26	1,888.74	85,585.95
20	85,585.95	2300	402.38	1,897.62	83,688.33
21	83,688.33	2300	393.46	1,906.54	81,781.79
22	81,781.79	2300	384.49	1,915.51	79,866.29
23	79,866.29	2300	375.49	1,924.51	77,941.78
24	77,941.78	2300	366.44	1,933.56	76,008.22
25	76,008.22	2300	357.35	1,942.65	74,065.57
26	74,065.57	2300	348.22	1,951.78	72,113.78
27	72,113.78	2300	339.04	1,960.96	70,152.83
28	70,152.83	2300	329.82	1,970.18	68,182.65
29	68,182.65	2300	320.56	1,979.44	66,203.21

Month	Initial balance	Monthly EMI	Value of Asset Rent	Value of Ownership Right	Ending Balance
30	66,203.21	2300	311.25	1,988.75	64,214.46
31	64,214.46	2300	301.90	1,998.10	62,216.36
32	62,216.36	2300	292.51	2,007.49	60,208.87
33	60,208.87	2300	283.07	2,016.93	58,191.94
34	58,191.94	2300	273.59	2,026.41	56,165.53
35	56,165.53	2300	264.06	2,035.94	54,129.59
36	54,129.59	2300	254.49	2,045.51	52,084.08
37	52,084.08	2300	244.87	2,055.13	50,028.95
38	50,028.95	2300	235.21	2,064.79	47,964.16
39	47,964.16	2300	225.50	2,074.50	45,889.66
40	45,889.66	2300	215.75	2,084.25	43,805.41
41	43,805.41	2300	205.95	2,094.05	41,711.36
42	41,711.36	2300	196.10	2,103.90	39,607.47
43	39,607.47	2300	186.21	2,113.79	37,493.68
44	37,493.68	2300	176.28	2,123.72	35,369.95
45	35,369.95	2300	166.29	2,133.71	33,236.25
46	33,236.25	2300	156.26	2,143.74	31,092.50
47	31,092.50	2300	146.18	2,153.82	28,938.69
48	28,938.69	2300	136.05	2,163.95	26,774.74
49	26,774.74	2300	125.88	2,174.12	24,600.62
50	24,600.62	2300	115.66	2,184.34	22,416.28
51	22,416.28	2300	105.39	2,194.61	20,221.67
52	20,221.67	2300	95.07	2,204.93	18,016.74
53	18,016.74	2300	84.71	2,215.29	15,801.45
54	15,801.45	2300	74.29	2,225.71	13,575.74
55	13,575.74	2300	63.83	2,236.17	11,339.56
56	11,339.56	2300	53.31	2,246.69	9,092.87
57	9,092.87	2300	42.75	2,257.25	6,835.62
58	6,835.62	2300	32.14	2,267.86	4,567.76
59	4,567.76	2300	21.48	2,278.52	2,289.24
60	2,289.24	2300	10.76	2,289.24	0.00

Example (3) Calculation Method for Early Repayment of Real Estate Financing
Financing Details	Real estate financing agreement of (1,000,000) SAR to be repaid in monthly installments of (4,510) SAR over (300) months, with an initial payment of (300,000) SAR and an administrative fee of (5,000) SAR payable after signing the contract.
Early Repayment Calculation Method	If the client wishes to repay early and there are (120) installments remaining, the remaining balance of the financing amount will be (406,235.99) SAR, and the total cost of the term for the next three months following the early repayment will be (6,056.03) SAR.
Early Repayment Amount (Total of the highlighted amounts)	406,235.99 + 6,056.03 = (412,292.02 SAR)

Example (4) Calculation Method for Early Repayment of Personal Financing
Financing Details	Personal financing agreement of (100,000) SAR to be repaid in monthly installments of (4,450) SAR over (24) months. The first payment is due (20) days after the contract signing, and an administrative fee of (1,000) SAR is payable after signing the contract.
Early Repayment Calculation Method	If the client wishes to repay early and there are (11) installments remaining, the remaining balance of the financing amount will be (47,376.41) SAR, and the total cost of the term for the next three months following the early repayment will be (710.6) SAR.
Early Repayment Amount (Total of the highlighted amounts)	47,376.41 + 710.6 = (48,087.01 SAR)