| Minimum Salary | Salary Transfer | Islamic Finance | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
BBK Consumer Loan
|
Minimum Salary: KWD 250 | Salary Transfer: No | Islamic Finance: No | Maximum Term: 5 Years | Flat Rate: 1.67% | Reducing Rate: 3.0% |
BBK Consumer Loan – for Purchasing Consumer durable household items
Make your wishes a Brighter reality.
BBK believes in providing financing that caters to a wide range of needs, because they 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.
BBK Consumer Loan:
If you borrow KWD 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 – KWD 297.50 | Total charge for credit – KWD 710 | Total amount you repay – KWD 10,710
Please note, the actual rate applied to your loan will depend on your circumstances
Make your wishes a Brighter reality.
BBK believes in providing financing that caters to a wide range of needs, because they 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.
BBK Consumer Loan:
- Borrow up to KD 15,000 or up to 15 times your salary
- Enjoy a flexible repayment period of up to 5 years
- Minimum salary requirement KD 250
If you borrow KWD 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 – KWD 297.50 | Total charge for credit – KWD 710 | Total amount you repay – KWD 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.
