Advantages of obtaining a housing loan from the National Bank of Kuwait

yousef14 May 2022Last Update : 2 years ago
Advantages of obtaining a housing loan from the National Bank of Kuwait

The Economy website presents the advantages and steps for obtaining a housing loan from the National Bank of Kuwait.

The bank said on its website: Fulfill your dream of owning a lifetime home with the housing loan. With a home loan, you can get financing that meets your requirements to buy a new home, build or renovate your home at a competitive interest rate.

Who qualifies for the loan?
All National Bank of Kuwait customers
To get the loan, you must be under 70 years old at loan maturity
Minimum monthly salary of 400 KD

Why do I get the loan?
With the National Housing Loan, you will get suitable financing for buying a house, building or renovating your home
You can get a loan of up to 70,000 KD with a repayment period of up to 15 years

interest rates
The current interest rate on the loan is fixed at 5% per annum calculated based on the remaining amount
Use the Loan Calculator to get an idea of ​​how much you can borrow and the monthly payments due

What should I know?
You can get a loan with a minimum amount of KD 1,000 and a maximum of KD 70,000 You must transfer your salary to the National Bank of Kuwait
Flexible repayment period from 12 to 180 months
Loans with a term exceeding five years, the interest rate will be reviewed at the end of every five years, bearing in mind that the amount of change in the interest rate does not exceed 2% (whether by increase or decrease) than the interest rate applied according to the instructions of the Central Bank of Kuwait
Possibility to add insurance to the loan
The possibility of early repayment at any time you want without incurring any future fees or interest
You can defer the loan installments for up to one year

Terms and requirements

A copy of your civil ID
Military ID for employees of the Ministry of the Interior, the Ministry of Defense and the National Guard
Salary Certificate
Salary Transfer Continuity Certificate

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