Commercial Bank of Kuwait Home Loan - Personal Loan in Kuwait

Minimum Salary needed KD350/-
Maximum amount available KD 70,000/-
Length of Loan 15 years
Profit Rate 3% over CB Discount Rate
Upfront Fees ( if any ) Not mentioned
Eligibility The total monthly installment amount (all loans) should not exceed 40% of the borrower net monthly salary for employees and 30% for the pensioners; (Private sector)Government employees' salary assignment is guaranteed by the Civil Services Commission agreement with banks; Age of borrower is from 21 years to 63 years provided his age will not exceed 65 years for the last year of the loan; Min. of 6 months employment (private sector) & 1 month employment (Public Sector) or 3 months salary payments with other banks, and 1 month salary payment with the Bank; For Pensioners Min. account relationship with Altijari should be 3 months, with no past defaults, otherwise a personal guarantee is required
Main Features Installment loan granted for the finance of Real Estate purchases or home renovations or improvements; Insurance, Optional, the borrower to be covered against death claims only, and pays on monthly basis 2% of the loan amount If the borrower does not wish to pay the insurance premium, a personal guarantor should be provided Rescheduling for a period of 3 years after the last installment and for a Max. amount of 36 times the installment amount.