| Minimum Salary | Salary Transfer | Early Settlement Fees | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
Bank of Bahrain and Kuwait - Car Loan
|
Minimum Salary: BHD 200 | Salary Transfer: Yes | Early Settlement Fees: - | Maximum Term: 7 Years | Flat Rate: 4.5% | Reducing Rate: 8.1% |
Whether you are a Bahraini or an expatriate customer, BBK's new car loan facility can give you a brighter drive. Their car loan package ensures you get the best possible deal in car financing.
Loaded with benefits, their car loans offer competitive interest rates, decent repayment periods of up to 84 months and comprehensive insurance through MotorSecure from Secura. Additionally, their application process is simply and you’ll find out swiftly if your application has been approved.
Features & Benefits:
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.
Features & Benefits:
- Minimum Salary required is BHD 200 for Bahrainis, BHD 300 for all other nationalities and minimum BHD 1,000 for self-employed
- Maximum term is up to 7 years
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.
