| Minimum Balance | Annual Fee | Internet Banking | Features | |
|---|---|---|---|---|
CBK - Current Account
|
Minimum Balance: KWD 100 | Annual Fee: KWD 0 | Internet Banking: No | Features: Free Cheque Book, Free Monthly Statements, No Salary Transfer, Current Account, Bank Statement, Open Withdrawal |
A non-interest earning account which is used by the customer mainly for managing financial activities through the Bank.
CBK Current Account Features:
CBK Current Account Features:
- Minimum deposit to open the account KD 100/- with no maximum.
- Non-interest earnings
- Customer receives a cheque book
- According to the customer's instructions, statements are sent daily, weekly, fortnightly, monthly, quarterly, semi annually or annually
- Overdraft facilities are available
- Certified cheque facilities are available
- Stop-payment facilities on cheques are available, subject to Kuwait commercial law
- Visa or Master card facilities are available if the customer meets certain Bank requirements
- ATM (Starlink) card is available
- The privilege of applying for loans and access to other products
- Facilitates business and personal transactions in Kuwait and abroad
- Security against lost cheques
- The customer will be aware of the movement of account through statements issued in English or Arabic, as per request
- Standing instructions facilities are available
- The account can be blocked as collateral
- Unlimited number of deposits and withdrawals
** 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.
