Minimum Salary Salary Transfer Islamic Finance Maximum Term Flat Rate Reducing Rate
KIB Goods Murhaba KIB Goods Murhaba Minimum Salary: KWD 200 Salary Transfer: Yes Islamic Finance: Yes Maximum Term: 5 Years Flat Rate: 3.06% Reducing Rate: 5.5%
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This service is offered to Kuwaitis, GCC nationals & Expatriates working in the government, public and private sectors and that there is no need to bring in any form of guarantee

KIB Goods Murhaba Features:
  • Minimum salary or monthly income is KD 200
  • Minimum financing amount is KD 250
  • Maximum financing amount is lower of KD 15,000 or 15 times the salary
  • Minimum installment is KD 30
  • Maximum financing period is 5 years (60 months). No minimum period
  • Six months grace period to pay the first installment
  • No guarantor is needed
  • Easy and flexible pre-payment
  • Easy and flexible monthly payments
Documents Required:
  • Original valid Civil ID
  • Salary transfer
  • Price quotation
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 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.
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