| Minimum Salary | Salary Transfer | Islamic Finance | Cashback | Annual Fee | Rate | |
|---|---|---|---|---|---|---|
CBK - Classic Visa Card
|
Minimum Salary: KWD 200 | Salary Transfer: No | Islamic Finance: No | Cashback: No | Annual Fee: KWD 30 | Rate: 2.5% |
CBK Classic Visa Card Features:
If you spend KWD 1,200 at a purchase interest rate of 18.9% (variable) your representative APR will be 18.9% (variable).
- Minimum credit limit is KWD 250 and maximum KWD 1,000
- Worldwide acceptance at over 24 million outlets, Cash withdrawals in the local currency of the country from more than 1 million worldwide ATMs
- Cash advances are subject to a flat fee of 5% (Minimum KWD 2)
- Charge Card: full monthly payment of 100% of outstanding
- Credit Card: Payment a min. of 8.33% of the monthly outstanding balance plus interest. Credit Cards monthly interest rate is subject to: (CB's discount rate + 2.5% + 6%) ÷ 12
- Cards are issued against subscription fees plus annual fees - Classic (KWD 10 + 20)
If you spend KWD 1,200 at a purchase interest rate of 18.9% (variable) your representative APR will be 18.9% (variable).
** 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.
