| Minimum Salary | Salary Transfer | Early Settlement Fees | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
Boubyan Bank Auto Finance
|
Minimum Salary: KWD 500 | Salary Transfer: Yes | Early Settlement Fees: - | Maximum Term: 5 Years | Flat Rate: 2.2% | Reducing Rate: 3.96% |
Boubyan Bank Auto Finance 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.
- Finance up to KWD 15,000
- Grace period of up to 3 months
- Flexible monthly installments starting from KWD 60
- Free liability insurance
- No salary transfer required
- No down payment required
- Attractive offers around the year
- Minimum age: 21 years
- Minimum net income: KWD 500
- Minimum finance KWD 1,000 and maximum KWD 15,000
- Minimum tenure 12 months and maximum 60 months
- Civil ID
- Military ID for military staff
- Salary certificate
- Supplier quotation
- Salary certificate from MGRP for private sector employees
- Account statements for the last 3 months for non-Boubyan customers
- Registration for used vehicles
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.
Representative Example Calculator
