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Minimum Salary Salary Transfer Early Settlement Fees Maximum Term Flat Rate Reducing Rate
NBK - Auto Loan NBK - Auto Loan Minimum Salary: KWD 400 Salary Transfer: Yes Early Settlement Fees: 1% Maximum Term: 5 Years Flat Rate: 2.78% Reducing Rate: 5.0%
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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:
  • NBK allows you to borrow up to KWD 15,000
  • 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
Benefits:
  • 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
Documents Required:
  • Copy of your Civil ID
  • Military ID is required for MOI, MOD and National Guards
  • Salary certificate
  • Passport copy is required for expatriates only
Representative Example:

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 flat rate on the product. This is not the 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 on the product plus fees and other costs. The APR is useful when comparing two or more products with different interest rates and fee structures.
Representative Example Calculator
Gulf Bank - Auto Loan
Minimum Salary
KWD 300
Flat Rate
3.0%
Boubyan Bank Auto Finance
Minimum Salary
KWD 500
Flat Rate
2.2%
AUB Al Motahid Auto Financing
Minimum Salary
KWD 400
Flat Rate
3.0%
ABK Auto Loan
Minimum Salary
KWD 300
Flat Rate
2.78%