| Minimum Balance | Annual Fee | Internet Banking | Features | |
|---|---|---|---|---|
Kuwait Finance House - Current Account
|
Minimum Balance: KWD 1,000 | Annual Fee: KWD 500 | Internet Banking: No | Features: Islamic Banking, Credit Card, Islamic Finance |
Features & Benefits:
- Ability to transfer your salary to the account
- Ability to withdraw up to KWD 2000 per day from any ATM machine
- Ability to get Visa/ MasterCard
- Ability to benefit from International Calling Service
- The account holder’s age should be above 21 years. The account opening is subject to an approval from the Branch Manager or his deputy while considering the necessity of opening this account
- The original Civil ID should be presented when opening the account
- Opening balance upon establishment should be KWD 1,000, or it's foreign currency equivalent
- It is neither used in investment nor exposed to profit or loss
** 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.
