ABK offers two types of loans to meet customers banking needs.

1. Consumer loans: a medium-term personal loan that does not exceed 25 times the net monthly salary of the customer (after deductions) or the continuous monthly income of a maximum of KD 25,000. Repayment of the loan should be in monthly installments, not exceeding 5 year loan tenure.
2. Housing Loan: a long-term personal loan not exceeding the amount of KD 70,000. The purpose of this loan is for non-commercial purposes and in particular the restoration or purchase of a private residence. Repayment of the loan should be in monthly installments and not exceeding 15 year tenure.

ABK Staff are Committed to:

1. Customers are provided with reflection period 2 business day to review their loan (excluding loans for medical treatment).
2. Providing customers with an unsigned and non-final copy of the loan with contract finance contract upon submission of the loan / financing application for the purpose of the review. The contract shall be signed after the end of that period, if the parties agree.
3. Deliver to the customer – in the beginning of the reflection period – with a loan table showing the loan amount, number of loan installments, in-principal amount, total interest amount, and potential changes. Floating loans assume a maximum interest rate increase of 2% every five years.

In addition, there are customer financial penalties to be calculated by ABK in case of delay in payment of monthly installments as follows:

• Consumer Loans: KD 15 in case of delay in paying any monthly premium
• Installment Loans: KD 20 in case of delay in payment of any monthly premium

ABK offers customers two types of credit cards to meet their banking needs.

1. Charge Cards: no liabilities on the customer account. Note: The full amount charged by the customer will be collected on a monthly basis for cards with 100% repayment.
2. Credit Card: total balance may be paid after amount are used. The card repayment rate of 8.33% will be collected by deducting an agreed upon monthly installment. The customer will have the agreed monthly installment confirmed to him by the relationship officer.

ABK Staff are Committed to:

1. Disclosing to customers - before contracting - all the requirements related to the issuance of credit cards such as issuance fees and expenses, including finance, credit limits, exchange rates, interest rates / interest rate, calculation method, minimum monthly premium and others.
2. There is also a financial penalty to be calculated by ABK on its customers who hold credit cards in the event of delay in payment of monthly installments:
   • Credit Card Late Penalty: 1.5% of the total used balance (Example: The used balance is KD 1000 x 1.5% = KD 15)

Any amendments on Interest Rate, Updated Fee, Commissions or New Fees

• ABK shall notify its customers who have credit cards of any new fees being introduced, or existing fees being updated in writing or through email or SMS.

• Customers of ABK shall be notified within sufficient time of any change in interest rates, or fees to any bank products or services.

• The customer is responsible for ensuring their cheque book has not been tampered with, and they should notify ABK of a loss of any cheque in order to allow the bank to inform you of the steps required to stop the cheque

• If the customer writes three separate cheque’s within a year and they are returned due to insufficient account balance, their cheque’s account will be closed, and their name included in the list of accounts which have been closed due to insufficient balance for cheque processing.

General Information

• ABK will notify customers in advance – within sufficient time – of any services which will be discontinued for any reason.

• Staff may not obligate a customer to obtain a product or service in order to take a separate product or service. Example, requiring a credit card when applying for a loan.

• If accounts have not been active for a long period of time (12 months), ABK will formally notify customers in writing of this.