Embark on your next holiday, plan a dream wedding, or make those home improvements you’ve been wanting to do – all with Kuwait Finance House.
Kuwait Finance House (KFH Malaysia) is an award-winning Islamic bank that offers a full suite of Shariah-compliant financial products and services. In addition to deposit accounts, home loans and wealth management solutions, the bank also offers personal loans designed to suit diverse borrowing needs. Financing amounts start as low as RM5,000 to a maximum of RM250,000. You can also choose a loan term you’re comfortable with from 2-10 years.
Find out about its personal loan offerings below.
finder does not currently have access to this personal loan provider. Please review the product details, application criteria and terms and conditions on the provider website if you are considering applying for this product.
Types of personal loans from Kuwait Finance House
Depending on your needs and financial obligations, one of these personal loans could be ideal for you.
- Personal loan. Known as the Murabahah Personal Financing-i Generic, this unsecured Islamic personal loan allows you to borrow up to RM250,000 and repay over 2-10 years. You can use the funds for any personal expenses such as holidays, wedding or home renovation. There are also no early settlement charges or guarantor required.
- Cashline. The Murabahah Cashline-i is a secured/non-secured revolving financing that can be used to meet personal financial needs. You may withdraw the cash anytime via cheque, debit cards, ATM or at any KFH branches. Profit rate is calculated on a fixed rate basis and only charged on the utilised amount.
- Auto financing. You’re able to finance a new car or superbikes (engine power of 500cc and above) with this loan. The financing margin is up to 90% of the car’s purchase price and up to 75% for superbikes.
Features of Kuwait Finance House’s personal loans
Here are some of the attractive features you can expect from KWH’s personal loans:
- High loan amounts. The range of loans available offer amounts of between RM5,000 and RM250,000, making it suitable for a broad range of financing needs.
- Easy loan repayment. You can make your loan repayments conveniently through Interbank GIRO (IBG) or Interbank Fund Transfer (IBFT).
- Takaful cover. Mandatory Takaful coverage is required to protect you from any outstanding loan in the event of unforeseen situations, such as death or total permanent disability.
- Extended loan term. The minimum term is two years and the maximum is 10 years. You can choose to settle your loan as early as possible to save money on interest.
What other products does Kuwait Finance House offer?
Besides personal loans, KFH also provides a range of other Shariah-compliant financial products and services:
- Deposits. KFH has over 10 account types to suit different banking requirements.
- Property loans. There are two property loan packages designed for financing both completed (Ijarah Muntahiah Bi Tamlik Asset Acquisition Financing-i) and under construction properties (Ijarah Mausufah Fi Zimmah Asset Acquisition Financing-i). In addition, there are no lock-in periods or early settlement charges.
- Corporate banking. Get on top of your business’ cash flow or expand your operations through KFH’s business banking solutions, such as asset, working capital and trade financing.
- Investment. You can conveniently invest and trade gold with KFH’s gold accounts. Low initial deposits available.
- Wealth management. Other financial solutions to help you manage or plan your finances include Islamic will writing, unit trust, Takaful plans and even Western Union transfers.
How to apply for a personal loan from Kuwait Finance House
If you’re ready to apply for a KFH personal loan, simply visit your nearest KFH branch and apply in-person. If you’ve other enquiries regarding their product and services, you can contact their customer service at 1 300 888 KFH (534) or fill up an online contact form. Before applying, make sure you meet the following eligibility criteria:
- You must be at least 21 or up to two years before retirement age (60 years old).
- You must be a Malaysian citizen.
- Permanent employee of MNCs, public limited companies, GLCs and their subsidiaries.
- Minimum monthly income of RM3,000 (gross)
Your application will require you to have the following documents on hand:
- Copy of identification (front and back)
- Latest three months’ salary slips
- Latest EPF statement (must show the last three months of contributions)
- Other documents may be required on a case-to-case basis (eg BE form, Tax Receipt etc)
- Copy of identification (front and back)
- Business registration certificate
- Last six months’ bank account statements showing salary deposit
- Latest BE form and Tax Receipt/EA Form/EPF statements (must show at least six months of contributions) or a copy of the latest Audited Financial Statements.
- Last six months company’s principle current account statement, or latest three months personal bank statement
- Other documents may be required on a case-to-case basis
Make sure you compare your options thoroughly before applying to ensure KFH is the right personal loan provider for you.