| Minimum Balance | Annual Fee | Internet Banking | Features | |
|---|---|---|---|---|
Gulf Bank Current Account
|
Minimum Balance: KWD 200 | Annual Fee: KWD 0 | Internet Banking: No | Features: Free Cheque Book, No Salary Transfer, Current Account, Vouchers Card |
Gulf Bank Current Account Features:
- Can be used to take care of various banking needs such as standing orders, letters of credit and certified cheque facilities
- Low opening deposit required to open the account
- Personalized cheque book
- Free Visa Electron ATM Card
- Free SMS mobile banking through Gulf Mobile Plus service, free for the first year
- Free Online Banking Service
- Non interest bearing account
- Available in KD and major currencies
- Opening Deposit is KWD 200
- KWD 2 for cheque booklet of 25 pages
- KWD 3 for cheque booklet of 50 pages
** 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.
