Companies Comparison
| Questions | KAWARA | MRNA |
|---|---|---|
| Yearly benefits | 28% Yearly | 16% Yearly |
| First Batch Payment | No First Batch Payment | No First Batch Payment |
| Number of installment months | From 6 months until 36 Months | From 6 months until 36 Months |
| Terms and Conditions | Min 4000 SAR Salary – No SIMAH Defaults- 21 years old and up- The client’s obligations are less than 45% | Min 4000 SAR Salary – No SIMAH Defaults- 21 years old and up- The client’s obligations are less than 45% |
| Does the client have the right to obtain a device if he’s without job or salary? | NO | NO |
| Is the resident entitled to obtain a device in installments? | YES | YES |
| Can a customer pay two consecutive installments in the same month? | NO | NO |
| Is the customer entitled to early payment of the entire amount during the installment period? | YES | YES |
| Are interest waived in the event of early repayment? | YES, Only three months are counted and the rest is dropped | YES, Interest for the remaining months will be dropped |
| Can a student own a device on installments? | NO | NO |
| Is it possible to own a device on installments if there are defaults in the SIMAH system? | NO | NO |
| Is there a return of the product and a refund? | NO | NO |
| The highest amount a customer can get? | 50,000 SAR | 50,000 SAR |
| Can customers obtain the maximum financing limit? | NO, Depends on client obligations | NO, Depends on client obligations |
Example
A device worth 5000 riyals. How are the installments calculated? (Be aware this is an example and maybe changed)
| – | KAWARA | MRNA |
|---|---|---|
| First Payment | 0 SAR | 0 SAR |
| Yearly benefit | 1400 SAR yearly | 800 SAR yealy |
| Monthly Payment | 530 SAR Monthly for 1 year | 480 SAR monthly for 1 year |
