Kuwait Finance House Personal Financing-i

Kuwait Finance House Personal Financing-i FAQ

What is the maximum allowable financing amounts?

Financing amount of up to 10x your monthly gross salary or up to RM250,000 for a maximum tenure of 10 years

The catch?

Applicant must be at least 21 years. Max age depending on age and financing tenure

An employee of a private sector with a minimum gross salary of RM3,000 per month*

Group Credit Term Takaful (GCTT) is required to be taken up by the customer

What will it cost you and how will you be charged?

One time set-up fee:

Stamp duty of 0.5% on financing amount to be deducted upfront before financing disbursement (as per Stamp Duty Act 1989).

Recurring payments:

Monthly payment comprising principal amount and profit charge. For financing tenure of 2 - 10 years, the profit rate ranging from 6% per annum

Late penalty charge:

1% from current outstanding amount

How long is the application approval process and what are the documents required?

Upon completing an application with iMoney, our representative will contact you within the same business day to confirm your application.

Thereafter, KFH Bank will require an average of three business days (not including Saturdays, Sundays, and public holidays) before approval or disbursement.

You are required to furnish the following documents for your financing application:

Copy of NRIC (front and back)

3 months (most current) salary slips

EPF statement (most current)

Other documents on case to case basis

Can you apply if you have a bad CCRIS/ CTOS/ Credit Record?

No, you are required to settle all overdue payments before applying. It is advised that you continue repaying your financing on time for another three months before reapplying, but subject to the banks own credit assessment.

If you are looking for other personal loans, you may also consider

Alliance Bank CashFirst Personal Loan

Alliance Bank CashFirst Personal Loan provides 40% cashback until this 31 May 2019 a fixed interest rate starting from 5.33% p.a. Eligible customers must pay monthly instalment amount on or before the due date during the entire tenure to enjoy this incredible cashback.

Al Rajhi Bank Personal Financing-i

With Al Rajhi Bank Personal Financing-i, the financing comes with a low profit rate starting from as low as 4.99% p.a. This personal financing allows you to get approved up to 8x your monthly salary or RM150,000, whichever is lower.

Citibank Personal Loan

The personal loan interest rate for Citibank starts from 5.88% p.a. and has a maximum tenure of 5 years. The personal loan also comes with a minimum income requirement of RM4,000.