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Minimum Salary Salary Transfer Islamic Finance Maximum Term Flat Rate Reducing Rate
CBK - Personal Loan CBK - Personal Loan Minimum Salary: KWD 350 Salary Transfer: Yes Islamic Finance: No Maximum Term: 15 Years Flat Rate: 1.67% Reducing Rate: 3.0%
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Installment loan granted for the finance of Real Estate purchases or home renovations/improvements. Loan terms are governed by CB directives as to Max. amount KD70,000/- and for Max. period of 15 years, and The total monthly installment amount (all loans) should not exceed 40% of the borrower net monthly salary for employees and 30% for the pensioners.

CBK Personal Loan Features:
  • Interest is payable monthly on reducing basis calculated at the fixed rate of 3% over CB Discount Rate. The applied interest rate can be revised every five years over the term of the loan to be in line with the prevailing CB discount rate at the end of each five year period of the loan's tenor subject to the condition that the change (increase or decrease) in interest rate should not exceed 2% of the contracted interest rate.
  • Minimum period is 24 months and maximum is 180 months for Persona Loan.
  • Minimum loan amount is KD 5,000/-, and Maximum KD 70,000/- while minimum installment amount is KD 105/-
  • Age of borrower is from 21 years to 63 years provided his age will not exceed 65 years for the last year of the loan.
  • Insurance is optional
  • For Kuwaitis - Min. salary KD350/- with a Min. of 6 months employment (private sector) & 1 month employment (Public Sector) or 3 months salary payments with other banks, and 1 month salary payment with the Bank
  • For Pensioners - Min. account relationship with Altijari should be 3 months, with no past defaults, otherwise a personal guarantee is required
Age Criteria:
  • Age of borrower is from 21 years to 63 years provided his age will not exceed 65 years for the last year of the loan.
Security:
  • Loan is granted against an irrevocable salary assignment including indemnity from pre-approved employer. (Private sector)Government employees' salary assignment is guaranteed by the Civil Services Commission agreement with banks
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
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