| Minimum Salary | Salary Transfer | Early Settlement Fees | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
NBK - Auto Loan
|
Minimum Salary: KWD 400 | Salary Transfer: Yes | Early Settlement Fees: - | Maximum Term: 5 Years | Flat Rate: 2.37% | Reducing Rate: 4.5% |
NBK Auto Loans offer you the opportunity to buy the new or used car you want, in the most convenient, fast and competitive way.
NBK Auto Loan Features:
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.
- NBK allows you to borrow up to KWD 10,000
- Installment amount 186
- Interest earned for term is 1,186
- You can expect quick approvals within 30 minutes
- The current interest rate on a new Auto Loan is 5%, which is calculated on a reducing balance basis
- Auto Loans are available for a maximum period of 5 years
- Car Loans are available for all Kuwaitis and expatriates without indemnity
- Financing is available for new and used cars
- NBK representatives are available at more than 30 Auto Dealers and used car offices throughout Kuwait
- You have the option to insure your loan
- You can settle the loan early at anytime without paying fees or future interest
- Quick loan approvals
- Salary transfer not required
- You can enjoy a free NBK account with no minimum balance
- The funds will be directly transferred to the car dealership’s account
- Quick and simple process
- Copy of your Civil ID
- Military ID is required for MOI, MOD and National Guards
- Salary certificate
- Passport copy is required for expatriates only
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.
