| Minimum Salary | Salary Transfer | Islamic Finance | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
Bank of Bahrain and Kuwait - Mortgage Loan
|
Minimum Salary: BHD 350 | Salary Transfer: No | Early Settlement Fees: No | Maximum Term: 15 Years | Flat Rate: 5.5 | Reducing Rate: 0.0 |
Features & Benefits:
Payment per month – BHD 297.50 | Total charge for credit – BHD 710 | Total amount you repay – BHD 10,710
Please note, the actual rate applied to your loan will depend on your circumstances.
- Minimum Salary required is BHD 350 for Bahrainis BHD 1,000 for any other nationality and BHD 2,000 for self-employed
- Maximum term is Purchase of land 15 years, purchase of property 25 years
- Maximum loan amount is BHD 750,000
- Down-payment - Purchase of land for Bahrainis is 20%, purchase of land for any other nationalities is 25%. Purchase of property for Bahrainis is 20%, purchase of property for any other nationalities is 25%
- Purchase land
- Purchase villa / property
- Construction of a home.
- Purchase of properties in development projects (title deed waiver available).
- Purchase of apartments in special projects (title deed waiver available).
- Loan against property ( Equity Financing)
- Loan against Land ( Equity Financing )
- All nationalities resident in the GCC for both salaried and self-employed individuals.
- For salaried individuals: between 21 years and 58 years of age.
- For self-employed individuals: between 25 years and 60 years of age.
- At maturity, borrower’s age must not exceed 60 years or normal retirement age whichever is earlier. In case of self employeed must not exceed 65 years.
Representative example:
If you borrow BHD 10,000 over 3 years at a Representative APR of 4.6% fixed and an annual interest rate of 4.6% you would pay:Payment per month – BHD 297.50 | Total charge for credit – BHD 710 | Total amount you repay – BHD 10,710
Please note, the actual rate applied to your loan will depend on your circumstances.
** Calculator Definitions
Amount:
The total amount of money borrowed, also referred to as the principal amount.
Rate (%):
This is the annual interest rate on the product which is equivalent to APR, which is going to be calculated in this example.
Years:
This is the original term or length of the product, stated in years.
Effective Monthly Payment:
This is the effective monthly payment, which takes into consideration fees and other costs associated with this product. The effective monthly payment is the basis for the APR calculation.
Calculated Annual Percentage Rate (%):
The Calculated Annual Percentage Rate (APR) is determined using the annual interest rate of the product plus fees and other costs. This rate may differ from bank to bank. APR is useful when comparing two or more products with different interest rates and fee structures.
