Kuwait Finance House (KFH)

Financing Features and Other Information

• Kuwait Finance House (KFH) offers personalized loans catering to diverse financial needs, from funding dream weddings to kickstarting entrepreneurial ventures.
• Individuals can access substantial capital of up to RM250,000, providing them with the means to realize their aspirations without financial constraints.
• The flexibility in financing empowers borrowers to pursue various endeavors without being limited by monetary concerns.

Tenure Flexibility

• Kuwait Finance House (KFH) provides flexible repayment tenure options, allowing borrowers to align their repayment periods with their financial capabilities and goals.
• Tenure options range from 2 to 10 years, ensuring that borrowers can manage monthly payments effectively while facilitating long-term financial planning.

Competitive Financing Rates

• Kuwait Finance House (KFH) offers competitive profit rates, ensuring that borrowers receive financing at favorable terms.
• This feature enhances affordability, enabling individuals to access funds without facing exorbitant interest payments.

Shariah-Compliant Financing

• Operating on Islamic finance principles, Kuwait Finance House (KFH) adheres to the Shariah concept of “Murabahah Tawarruq.”
• This ethical framework ensures that financing transactions are conducted in accordance with Islamic principles, providing customers with peace of mind and financial integrity.

No Guarantors Necessary

• Unlike traditional loan products that often require guarantors, KFH personal loans eliminate the need for third-party guarantees.
• This streamlined application process simplifies borrowing and reduces administrative hassles for borrowers.

Lifestyle Enhancements

• • With KFH personal loans, individuals can enhance their lifestyles by fulfilling personal aspirations and realizing long-held dreams.
  • Whether it’s traveling, renovating a home, or pursuing further education, KFH financing empowers individuals to enrich their lives and pursue their passions.

Benefits of Kuwait Finance House (KFH) Personal Loan

Account Benefits

• High Financing Limits: Borrowers can access financing of up to RM250,000, facilitating major life events, investments, and personal projects.
• Flexible Tenure Options: Tenure ranges from 2 to 10 years, allowing borrowers to tailor repayment schedules to their financial circumstances and preferences.
• Competitive Profit Rates: KFH offers competitive rates ensuring affordability and reducing financial burden for borrowers.
• No Guarantor Requirement: Eliminating the need for guarantors simplifies the application process, making financing more accessible and convenient.
• Takaful Protection: KFH provides comprehensive insurance coverage for added financial security and peace of mind throughout the loan tenure.
• Convenient Payment Methods: Repayments can be made conveniently via Interbank GIRO (IBG) or Interbank Fund Transfer (IBFT), streamlining transactions for borrowers.
• No Early Settlement Penalty: Borrowers can settle their financing early without incurring penalties, enabling effective financial management and savings on interest payments.

Fee Structure

• Brokerage Fee: The fee is proportional to the financing amount, promoting transparency and fairness in fee assessment.
• Stamp Duty: A stamp duty of 0.5% of the financing amount is levied, adhering to regulatory mandates.
• Takaful Charges: Charges are calculated based on the customer’s profile, incorporating factors like age, gender, and tenure to offer personalized insurance coverage tailored to individual requirements.

Eligibility Criteria

• Employment Status: Applicants must hold confirmed and permanent positions within multinational companies, public limited companies, government-linked companies, and their subsidiaries.
• Age and Income Requirements: Eligible applicants must be aged 21 years or above, up to 2 years before reaching the retirement age of 60 years old. Additionally, they must have a minimum gross monthly income of RM3,000 to qualify for the loan.

Required Documents

Salaried Earners

• Required documents:
  • Latest 3 months’ payslip
  • Latest EPF Statement reflecting the latest 3 months contributions
  • Additional documents on a case-by-case basis.

Own Business Owners

• Required documents:
  • Latest B/e-Tax form or EPF statements reflecting at least 6 months of contributions
  • Business registration form
  • Additional documents as per individual circumstances.

Kuwait Finance House (KFH) personal loans offer a comprehensive financing solution designed to meet the diverse needs of individuals. They provide access to substantial capital with flexible terms, competitive rates, and streamlined application processes.