Help & Support
FAQ
Loans
To apply for a Loan you would need the following to be present with you:
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Loan amounts can vary by type:
- Consumer Loan = from 1,000 KD to 25 times your salary or 25,000 KD (or whichever is less)
- Housing Loan = from 1,000 KD to 70,000 KD
Instalment Loans have the following features:
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Consumer Loans have the following features:
- A period of 1 to 5 years
- An amount of up to 25,000 KD
- Purposes: All purpose accepted except the purpose of using the money on local or international stock exchange markets.
Auto Loans are consumer loans that are specifically meant to finance the purchase of brand new factory cars directly from showrooms.
Auto and Consumer Loans are very similar. However, Auto Loans are specific to financing the purchase of new and unused cars from any of ABK’s car agency showrooms.
There would be Late Fee that varies by Loan type:
- For Consumer Loans: KD 15
- For Housing Loans: KD 20
If a Customer passes the 10 day grace period after their Loan Installment due date then they will be considered as late. For example: if a customer’s installment due date is scheduled for the 20th of every month, then the customer will be considered late on the 1st of subsequent month.
You can simply apply for a Loan by visiting any of our ABK branches. Alternatively, you can contact our Call Centre at Ahlan Ahli 1 899 899 and request for a visit. We will be delighted to send a Sales Representative to the place of your choice and at a time you find convenient to you.
All ABK Loans are automatically ensured.
It will take from 3 to 5 business days for the Loan to be accredited to your account.
It is not necessary for you to have your Salary transferred to your ABK account to apply for a Loan. However, you will need to raise an irrevocable standing order from the bank that has Salary Account (the bank that your salary is credited to) to your ABK Saving account with the Loan Installment amount.
The minimum salary requirement for a Loan application is KD 300.
Yes you can, as long as you have passed the 30% of the loan period. For example, if the loan period is 10 years, then you can apply for a Loan Reschedule after you have completed 3 out of the 10 years of the loan.
Your Salary certificate will state the amount of your Salary Salary continues is a proof of employment up to the date of the certificate.
Yes there is a minimum age requirement of 21 years and a maximum of 70 years.
The required documents to apply for either an Housing or a Consumer Loan are:
- A Salary Certificate.
- A Continues Salary Certificate.
- A proof of reason for Housing Loan Application.
- A valid Civil ID.
No, the customer is not required to provide any invoices
Yes, the customer must provide the bank with invoices, and if the customer does not comply with providing proof within the specified period of time they will not be granted any new lending facilities.
Yes. The processing fee is 1% of the loan amount. Budgeting should be allotted for additional fees such as land registry, administration fees, and broker fees.
No, this will be considered on an individual case basis.
Minimum of 30% of Property Value.
All properties must be pre-approved by ABK UAE. The pre-approved list includes the leading UAE developers. Off plan properties will not be considered.
Your monthly payments will be calculated and debited from your account in Kuwaiti Dinars and paid in UAE Dirhams.
Two independent valuations of the property are mandatory. The finance amount is calculated by the lender based on the valuation amount provided by the valuators.