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Name of Product:

Home Loan.

What is it?

Money borrowed from the Bank against a certain rate of interest to finance the following: Purchasing a house, renovation of a house, Building an extension to a house, Building a new house or Purchasing a land.

Who Qualifies?

Kuwaiti customers.

How is the product used?

To finance the above mentioned.


1. Loan for Kuwaitis to finance acquisition of house, purchase of land and construction/renovation of a house.

2. Available for Kuwaiti KD Current Account holders.

3. Minimum loan amount of KD 10,001, and Maximum of KD 70,000

4. Minimum repayment period of 48 months and a Maximum of 180 months.

5. Minimum age of the customer should be 21 years and a maximum of 61 years at the maturity of the loan.

6. Insurance fees will be collected as per tariff.

7. Salary Certificate should not be older than 3 months.

8. The minimum salary for the borrower should not be less than KD 650/-.

9. Repayments to be made in monthly installments subject to a minimum of KD 185/- and a maximum up to 50% of the net salary.

10. Salary should be transferred to customer current account.

11. Mortgage of 1st degree is required on the subject property.

12. Mortgage of 2nd degree will be required if the property is first mortgaged by the Savings & Credit Bank.

13. The interest rate applied will be the Central Bank of Kuwait Discount Rate + 4% on the reducing loan balance.

14. The employment period should be a minimum of 6 months.

15. Customers can apply for a Home loan after a period of 3 months of his Salary being credited to his/her account, or after one month backed by a clearance certificate and the statement of account from the previous bank showing steady Salary credits.

16. Refinancing is permitted.

17. Late payment fee will be KD 5/- and an evaluation/mortgaging fee will be applicable.
18. Prepayment fee is 2.5% of the outstanding balance (Minimum KD 100/-) .


1. Loan available for customers who have financial needs.

2. Sufficient amount to finance real estate/construction.

3. Easily obtained.

4. Easy terms of repayment.