Loan for financing consumer goods or personal needs.
Who Can Apply?
- All CBK customers
- The borrower can get 25 times the salary with a minimum loan amount of KD 1,000/- and not more than KD 25,000.
- Installment amount should not exceed 40% for employees of the net monthly salary and 30% for pensioners of the net monthly salary
- With the option to insure the loan with 2% of the loan amount.
The borrower Age:
- Kuwaitis: Minimum 21 years and maximum is 69 years, (Final installment should be due before ending the age of 70 years)
- Non-Kuwaitis: Minimum 21 years and maximum is 59 years, (Final installment should be due before ending the age of 60).
- Minimum monthly salary required is KD 250/-
- Minimum employment tenor is:
- 1 month for Kuwaitis employed in governmental sector and - 3 months for Kuwaitis employed in the private sector.
- As for pensioners: retirement salary should be transferred to the account at Commercial Bank for 3 months.
- If the salary is KD 250/- and above customer can get consumer loan equivalent to his/her end of service indemnity as it should not be less than KD 1,000 as per consumer loan terms .
- If the salary is KD 400/- and above and the employment period not less than 4 months, the customer can get a consumer loan amount maximum of 15 times salary, Subject to a maximum of 15,000 KD
The current interest rate on a new loan is fixed at just 4.5% per annum and calculated on a reducing balance basis
What Should I know?
- The borrower can get 25 times the salary with a minimum loan amount of KD 1,000/- and not more than KD 25,000
- Your loan period can be from 12 to 60 months
- You have the option to insure your loan
- You can settle the loan early at any time without paying any fees or future interest
What Do I need?
- A copy of your Civil ID
- A Kuwait Military ID is required for MOI, MOD and National Guards
- Your salary certificate
- A salary transfer continuation certificate
Apply Now For Consumer Loan