| Minimum Salary | Salary Transfer | Islamic Finance | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
Bank of Bahrain and Kuwait - Consumer Loan
|
Minimum Salary: BHD 200 | Salary Transfer: No | Islamic Finance: No | Maximum Term: 7 Years | Flat Rate: 3.5% | Reducing Rate: 6.3% |
Consumer Loans.Make your wishes a Brighter reality.
At BBK, we believe in providing financing that caters to a wide range of needs, because we understand that everyone has a different reason for borrowing. Keeping this in mind, we have made our consumer loans flexible enough to cater to your individual goals and requirements.
The BBK Consumer Loan is a medium term loan granted to individuals for a fixed period of time to meet their finance requirements for purposes such as, home renovation, furnishing, medical treatment, travel … etc.
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.
At BBK, we believe in providing financing that caters to a wide range of needs, because we understand that everyone has a different reason for borrowing. Keeping this in mind, we have made our consumer loans flexible enough to cater to your individual goals and requirements.
The BBK Consumer Loan is a medium term loan granted to individuals for a fixed period of time to meet their finance requirements for purposes such as, home renovation, furnishing, medical treatment, travel … etc.
Features & Benefits:
- Minimum Salary required BHD 200
- Easy application and speedy approval process
- Flexible loan repayment terms of up to 7 years
- Option to defer monthly payment as needed
- Convenient automatic payment deduction from your account
- Competitive interest rates
- Loan protection insurance
- Both salaried and self-employed individuals
- All nationalities resident in Bahrain are eligible (residence permit valid for a minimum of 3 months)
- Salaried individuals must be between 21 and 55 years of age
- Self-employed individuals must be between 25 and 55 years of age
- Minimum monthly salary of BD 200
- Original salary certificate
- Letter of undertaking for salary transfer and for non-Bahrainis indemnity, or a third-party guarantee
- Non-BBK customers must provide bank statements (last 3 months)
- Last pay slip
- Original CPR/Smart Card & passport
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.
Representative Example Calculator
