| Minimum Salary | Salary Transfer | Islamic Finance | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
BBK - Installment Loan
|
Minimum Salary: KWD 500 | Salary Transfer: | Early Settlement Fees: | Maximum Term: 15 Years | Flat Rate: - | Reducing Rate: - |
BBK Installment Loan – for financing long term purchases
- Borrow up to 48 times your salary, up to a maximum amount of KD 70,000
- Enjoy a flexible repayment period of 15 years
- Minimum salary requirement KD 500
** 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
