No matter what your needs are, whether to build or buy your dream home, to purchase a new car, or simply to pay personal expenses , you will find us beside you to support all your  financial needs and to make all your dreams come true

Important Information on Banking Dealings

Awareness Campaign Designated for CBK Customers Regarding Consumer & Installment Loans

  •  A consumer loan is a medium-term installment loan granted to the customer for the purpose of financing the purchase of his personal needs of consumer and durable goods, or to cover education or medical treatment costs. This loan is repaid in monthly installments over a period not exceeding 5 years.
  •  A Personal loan is a long-term installment loan utilized by the customer for non-commercial purposes, in particular for renovation or purchase of a private residence. This loan is repaid in monthly installments over a period not exceeding 15 years.
  • Granting consumer loans or other installment loans for the purpose of financing   travel or marriage expenses, is prohibited.
  • The amount of the consumer loan shall not exceed 15 times the net monthly salary (after deductions), or continuous monthly income, of the customer, up to a maximum of KD 15 thousand. 
  •  The total amount of the installment loans granted to one customer shall not exceed KD 70 thousand (inclusive of the maximum established limit of the consumer loan).
  •  The bank must obtain from the employer of the loan applicant a certificate detailing his monthly salary and all monthly deductions, or an evidence certifying the availability of the sources of continuous monthly income.
  •  The installments of consumer loans and installment (housing) loans obtained by the customer shall not exceed 40% of the customer's net monthly salary (after deductions), or continuous monthly income, or 30% for loans to pensioners.
  •  In cases where the customer applies for a consumer or installment loan and his submitted salary certificate indicates that he is getting a rental allowance, then the rental allowance must be excluded from the salary when calculating the total installments / net salary ratio which may not exceed 40%.
  •  The bank shall obtain and inquire about the customer's information from Credit Information Network Company (Ci-Net). Such information shall include consumer & installment loan/finance obtained by the customer in order to verify the size of financial obligations of the customer towards banks and other companies and to ensure that the total monthly installments will not exceed 40% of his monthly salary or income or 30% for pensioners. 
  •  Interest rate ceiling for consumer and installment loans shall not exceed 3% over the discount rate specified by Central Bank of Kuwait.
  •  Interest may not be deducted upfront, whether for consumer or installment loans.
  •  A fixed interest rate shall apply to consumer loans, in accordance with the contractual interest rates prevailing at the time of granting the loan.
  •  A fixed interest rate shall apply to installment loans as per the contractual interest rates prevailing at the time of granting, and the applicable interest rates shall be reviewed every five years within the loan maturity.
  •  Upon review of the applicable interest rate for installment loans at the end of every five years of installment loan maturity, the change in interest rate shall not exceed 2% (by increase or decrease) of the contractual interest rate applicable according to the loan contract before the change and this shall be based on Central Bank of Kuwait's discount rate as specified at the time of reviewing the interest rate.
  •  Banks shall give consumer and installment loans customers a "Reflection Period", for two business days at least, so that they shall be provided with copies - not final and not signed - of the loan contract in addition to a simplified schedule showing the value and number of the loan installments, components of each installment from the interest rate and the amounts repaid from the principal on supposition of regularity in repayment in addition to total value of interest rates and the amounts that shall be repaid up to expiry of the maturity date of the loan along with statement of the possible changes in financing burdens for installment loans on assumption of increasing the interest rate at the maximum established limit (2%) every five years.
  •   Loans granted for the purpose of medical treatment which can be immediately granted without awaiting the "Reflection Period" shall be excluded from the above Reflection Period.
  •  No liabilities shall be incurred by the customer during the reflection period where the final contract shall be signed after that period in event of the two parties' agreement.
  •  A customer who is regular in repayment may - at any time during the term of the loan - request to get the terms of the contract concluded with the bank re-arranged with the same type of the outstanding loan, where the customer can request for an increase or reduction in the value of the monthly installment or term of loan, without breach of the maximum established limits for the term of consumer or installment loan or the maximum limit for the ratio of the monthly installment.
  •  The customer may get the terms of the contract re-arranged with the bank regarding the consumer and installment loans granted to him, in order to be able to obtain new loan with the same type of the outstanding loan, provided that the customer would have been regular in repayment not less than 30% of the number of installments set for the consumer or installment loan at their maturity dates according to the terms of the contract concluded with the customer, regardless of the early repayment.
  • The customer shall provide the bank with all documents supporting the use of loan in the purpose for which it was granted.
  • In case the customer fails to provide the bank with the documents supporting the use of loan in the purpose for which it was granted, the customer shall not be granted any additional facilities in the future.
  • Neither the husband nor the wife may guarantee each other when applying for a loan.
  • Combination is not allowed for salaries of more than one person for the purpose of obtaining loan. 
Consumer Loan

Installment loan to finance the purchase of consumer durable items and other expenses (Excluding marriage) Loan terms are governed by CB directives as to Max. amount 15 times salary should not be exceeded KD15,000/- and for Max. period of 5 years, The total monthly installment amount (all loans) should not exceed 40% of the borrower net monthly salary for employees and 30% for the pensioners.

Pricing

Interest rate used is CB discount rate + 3% charged monthly on reduced balance basis.

Security

Loan is granted against an irrevocable salary assignment including indemnity from pre-approved employer. (Private sector)Government employees' salary assignment is guaranteed by the Civil Services Commission agreement with banks

Tenor

Min. 12 months, and Max. 60 months

Amount

Min loan amount is KD 2,500/- and Max 15,000/- while minimum installment amount is KD 50/-

Age

Age of borrower is from 21 years to 64 years provided his age will not exceed 65 years on loan expiry

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 1year after the last installment and for a Max. amount of 12 times the installment amount)

Kuwaitis

Max. amount 15 times the salary, amount should not exceed KD15,000/- provided Min. salary KD250/- with a Min. of 3 month employment (private sector), or 1 month employment (public sector) or 3 month salary payments with other banks, and 1 month salary payment with the Bank

Expatriates

Max. amount 10 times the salary, or the indemnity cover, which is higher if Min. salary not less than KD400/- with a Min. of 4 months employment or Max. 10 times salary, plus the indemnity amount for Min. salary KD550/-, incase of Min. 2 years employment

Pensioners

Min. account relationship with Altijari should be 3 months, with no past defaults, otherwise a personal guarantee is required

Personal Loan

Installment loan granted for the finance of Real Estate purchases or home renovations/improvements. Loan terms are governed by CB directives as to Max. amount KD70,000/- and for Max. period of 15 years, and The total monthly installment amount (all loans) should not exceed 40% of the borrower net monthly salary for employees and 30% for the pensioners.

Pricing

Interest is payable monthly on reducing basis calculated at the fixed rate of 3% over CB Discount Rate. The applied interest rate can be revised every five years over the term of the loan to be in line with the prevailing CB discount rate at the end of each five year period of the loan's tenor subject to the condition that the change (increase or decrease) in interest rate should not exceed 2% of the contracted interest rate. 

Security

Loan is granted against an irrevocable salary assignment including indemnity from pre-approved employer. (Private sector)Government employees' salary assignment is guaranteed by the Civil Services Commission agreement with banks

Tenor

Minimum period is 24 months and maximum is 180 months for Persona Loan.

Amount

Minimum loan amount is KD 5,000/-, and Maximum KD 70,000/- while minimum installment amount is KD 105/-

Age

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.

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

Kuwaitis

Min. salary KD350/- with a 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

Pensioners

Min. account relationship with Altijari should be 3 months, with no past defaults, otherwise a personal guarantee is required


Short Term / Long Term Loan


Single payment Loan granted against the pledge of deposit A/C other than Current Account.

Tenor

Minimum period is 3 months and maximum is up to one year for Tijari Short Term Loan.
Minimum period is 1 year and maximum is 5 years or due date of underlying deposit account for Tijari long Term Loan.

Amount

Min. Amount of the loan is KD5,000/- and Max. amount (as per credit authority approval) should not exceed 90% of the deposit / account in KD or 80% of the deposit / account in FCY

Pricing

Interest rate is 2.5% over CB discount rate for Tijari Short Term Loan.
Interest rate is 4% over CB discount rate for Tijari Long Term Loan.

Expatriate Loans

Do you wish to buy a new car? Or purchase new furniture for your home Or finance your children education?

No need to worry any more, Commercial Bank of Kuwait provides maximum convenience through its expatriate loans, a tailor made financial package that would help you fund your needs and achieve your dreams.

No matter what your salary is, look at the table below and see which category will be convenient to you based on your salary range. Our staff members are also willing to help you and will attend all your queries.


Salary

Loan Amount

KD 250 - KD 399

The value of end of service indemnity

KD 400 - KD 549

10 times the salary (15 times the salary for teachers and nurses)

KD 550 and above

10 times the salary + the value of  end of service indemnity


With Commercial Bank of Kuwait, obtaining  a loan has become easier than you expect, all you have to do is to bring your Salary certificate and Civil ID and our staff will work on processing your loan promptly.

Terms and Conditions:

  • Age of borrower is between 21 to 59 years old.
  • Repayment period ranges between 12 months and 60 months.
  • Maximum loan amount 15 times salary (not to exceed KD 15000).
  • Credit terms and conditions shall be applied
Loan Center Locations

Your loan is now easier with Commercial Bank of Kuwait

To streamline and guarantee quick processing of your loan application, the following branches have been specifically designated to receive & process your loan applications:
  
  • Mansouriya Branch
  • Qurain Branch
  • Andalus Branch
  • South Surra Branch