Saudi Credit Card Interest Calculator
Monthly profit on a Saudi credit card at your rate, how long paying the minimum takes and what it costs, a fixed-payment and 12-month plan, the personal-loan alternative and how card limits eat into SAMA's 33% salary cap.
| Annual rate (term cost) | — |
|---|---|
| Minimum payment this month | — |
| Paying only the minimum | — |
| Paying a fixed amount | — |
| To clear in 12 months | — |
| Converting to a personal loan at 7% APR | — |
| Effect on your SAMA borrowing limits | — |
In short
Saudi credit cards charge roughly 2%–2.75% a month (24–33% a year) on unpaid balances with a minimum payment of about 5%; paying only the minimum on SAR 15,000 at 2.5% takes about 8 years 8 months and costs around SAR 13,200 of profit, against SAR 2,550 clearing it in a year or SAR 1,670 via a 7% personal finance over three years. Card limits count against SAMA's 33.33% salary and 45% debt-burden ceilings.
Who this is for: Saudi cardholders with a revolving balance deciding how fast to pay it down and whether personal finance is cheaper.
Credit-card profit rates in Saudi Arabia and the minimum-payment trap
Saudi issuers quote a monthly profit or interest rate — typically 2% to 2.75% (24–33% a year) — on balances not paid in full by the due date; many cards are Sharia-compliant tawarruq structures but the cost works the same way. SAMA requires the issuer to disclose the annual term cost and to set a minimum payment (commonly 5% of the balance, minimum SAR 100–200). Credit cards are exempt from SAMA's five-year term limit, which is exactly why a minimum-payment balance can run for a decade.
- Minimum-payment maths: on SAR 15,000 at 2.5% a month the first minimum of SAR 750 includes SAR 375 of profit; clearing the card this way takes over eight years and costs almost the whole balance again in profit.
- Cheaper routes: a personal finance at 5–9% APR over 1–3 years, the issuer's installment plan (0.5–1.5% a month), or a balance transfer promotion.
- Your borrowing limits: card limits count against the 33.33% salary-deduction cap and the 45% non-real-estate debt-burden ceiling, so an unused SAR 50,000 limit can cost you a car loan.
- Grace period: pay 100% of the statement and purchases are profit-free; partial payment loses the grace period on the whole balance.
Assumptions
- Profit = balance × monthly rate; monthly simulation with no new spending; minimum = max(floor, % of balance after profit).
- 12-month plan and 7% / 36-month loan use the standard amortisation formula at the nominal annual rate.
- Borrowing-limit effect = 5% of total card limits as a share of salary against the 33.33% salary-deduction cap.
Worked example
Profit this month = SAR 375 (30% a year nominal, 34.5% effective). Minimum payment SAR 750, of which SAR 375 reduces the balance. Paying the minimum takes about 8 years 8 months and costs roughly SAR 13,200 of profit (0.88× the balance). A fixed SAR 1,200 a month clears it in 16 months for SAR 3,210; clearing it in 12 months needs SAR 1,462 a month (SAR 2,550 of profit); a 7% personal finance over 36 months costs SAR 1,670 in total.
Frequently asked questions
What is the interest rate on credit cards in Saudi Arabia?
Typically 2%–2.75% a month (24–33% a year) on unpaid balances, disclosed as an annual term cost on the card's key-facts statement; premium and some Islamic cards are lower.
What is the minimum payment on a Saudi credit card?
Usually 5% of the outstanding balance or SAR 100–200, whichever is higher. SAMA requires the minimum to be disclosed; paying only the minimum keeps profit accruing on the whole balance.
Are Saudi credit cards Sharia-compliant?
Most are structured as tawarruq or ujrah (fee-based) products approved by the bank's Sharia board; the monthly charge is called profit or fee rather than interest, but the cost to you is calculated the same way.
Do credit cards count against the 33% salary rule?
Yes — banks include the card's minimum payment or a percentage of the limit in your monthly obligations when applying SAMA's 33.33% salary-deduction cap and 45% debt-burden ceiling for new finance.
Is it cheaper to take a personal loan to pay off a card?
Usually: personal finance at 5–9% APR costs a fraction of a card's 24–33%, and SAMA caps early-settlement fees at three months' profit or SAR 5,000 if you later repay it early.
What happens if I miss a credit card payment in Saudi Arabia?
A late fee under the issuer's SAMA-approved tariff, profit on the full balance, and a SIMAH credit-bureau record that can block loans; after 90 days the account is classed as delinquent.
How is the monthly profit calculated?
Outstanding balance × monthly rate, applied to the full statement balance from each transaction date when the statement is not paid in full; most issuers compound monthly.
What is SIMAH?
The Saudi credit bureau — every card limit, balance and late payment is reported there, and banks use it to apply SAMA's debt-burden limits to your next finance application.
People also ask
What is the credit card interest rate in Saudi Arabia?
Typically 2–3% a month (about 24–36% a year) on balances not paid in full; Islamic cards charge a monthly profit under Tawarruq.
What is the minimum payment?
Usually 5% of the balance or SAR 100, whichever is higher.
Is there an interest-free period?
Up to 25 days after the statement if the full balance was paid last month; cash withdrawals carry no grace period.
Are credit card fees capped?
SAMA caps late-payment fees and requires clear disclosure; annual fees vary by card tier.
Does my card debt affect Iqama transfer?
Banks may require settlement or a new-employer undertaking before releasing a final-exit clearance.
How quickly will I clear SAR 10,000 paying the minimum?
Several years with most of the payments going to interest; the calculator shows the months and interest for your rate.
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