Consumer Loans
Designed to meet your various financial needs
Consumer Loans
The Consumer Loan is designed to provide you with flexible financing solutions to support a wide range of personal needs. Whether you are looking to purchase a car, upgrade household electronics, or cover educational or medical expenses, this loan offers the financial support to help you move forward with ease.
With flexible repayment terms and competitive financing limits, the Consumer Loan allows you to manage your commitments comfortably while maintaining control of your budget.
The Consumer Loan gives you the flexibility to achieve your goals and meet your financial needs with confidence.
Loan Amount Limits:
Maximum: KD 25,000 or 25 times net salary, whichever is higher
Loan Terms:
Minimum: 12 months – Maximum: 60 months
Benefits
Finance the purchase
Finance the purchase of consumer durable goods and any expenses
Repayment period
Choice of repayment period from 12 months to 60 months
Interest is deducted monthly
Interest is deducted monthly and calculated on reducing loan balance
Eligible Applicants
Minimum Net Salary: KD 400
Employer: Government, semi-government, KIPCO Group companies, approved companies
Frequently Asked Questions
For any further questions or clarifications contact us at 1804080
The minimum loan amount is KWD 1,000.
Your eligible loan amount is determined based on your repayment capacity. The monthly installment must not exceed:
- 40% of net salary for employees
- 30% of net salary for retirees
The final loan amount remains subject to the bank’s eligibility and credit assessment.
Yes, provided you have completed the minimum required period:
- One months for government and semi-government sector employees.
- Three months for private sector employees.
Once the payment becomes overdue, your account may be subject to the following measures:
- 1 - 90 days overdue: Transactions on your accounts will be restricted to deposits only.
- More than 90 days overdue: The bank may initiate legal action.
Yes. Loan insurance is optional and can be added at your request at the time of applying to the loan. If you opt in for the insurance, a fee equivalent to 2% the loan amount will apply. This coverage helps settle the outstanding loan balance in the event of unforeseen circumstances, such as death, subject to the policy terms and conditions.
Yes, you can settle your outstanding loan balance at any time before the maturity date without early settlement fees or penalties by visiting a Burgan branch.