IndiansinKuwait.com - India Kuwait News and updates

IndiansinKuwait.coom

Banks in Kuwait may relax loans conditions for expatriates

Monday, May 27, 2024
Banks in Kuwait may relax loans conditions for expatriates

The Kuwaiti banks are reconsidering their policy towards lending loan to expatriates by easing some of the restrictions they had put in place earlier.

According to local Arabic media report, banks are considering to reduce the salary limit for government employees to 250 KD and for private companies to 500 KD to obtain loan. it was reported that the banks have instructed their employees to lift the block on resident financing for private sector employees by considering additional benefits such as the customers should have a minimum end-of-service bonus reflecting at least ten years of service and be employed by a major, stable company.

The eligible job category for expatriates includes traditional roles like judges, doctors, healthcare workers, engineers, teachers administrators, technicians, and similar professions. For customers meeting the specified conditions, loans exceeding the value of the end-of-service bonus may be available, with additional margins varying based on job type, grade, and stability.

It is also reported that the smaller banks had already opened lending to non-Kuwaitis with salaries starting at 300 dinars and minimal adherence to end-of-service bonus conditions.

The maximum loan amount is capped at 25,000 dinars, as stipulated by the Central Bank of Kuwait.


  IndiansinKuwait.com is now on WhatsApp Channel    Follow Channel


📣 IndiansinKuwait.com is now on Telegram. Click here to join our channel (@IIK_News) and stay updated with the latest headlines

Read this article online at

Express your comment on this article

 
Abdulkadir.AN
Tuesday, May 28, 2024
Have you ever any one seen government employees getting KD. 250?


Rj
Tuesday, May 28, 2024
Don''t worry, the Bank Insurance Company agents will look for him at their level best at addresses and through colleagues

EXPAT
Monday, May 27, 2024
can you kindly advice as to what happens to an expat who for some reasons may defaults on a loan (loss of job/ goes absconding etc.) l.Its mentioned that the maximum loan amount is capped at 25000 but one of my ex colleague availed of KD. 30000/- went on vacation to INDIA and never came back. It was less than a year he joined the company and did not even have a end-of-service corpus

Submit your comments...
     
Disclaimer: The views expressed here are strictly personal and IndiansinKuwait.com does not hold any responsibility on them. We shall endeavour to upload/publish as many of the comments that are submitted as possible within a reasonable span of time, but we do not guarantee that all comments that are submitted will be uploaded/published. Messages that harass, abuse or threaten other members; have obscene, unlawful, defamatory, libellous, hateful, or otherwise objectionable content; or have spam, commercial or advertising content or links are liable to be removed by the editors. We also reserve the right to edit the comments that do get published. Please do not post any private information unless you want it to be available publicly.

Community News

 
TEF Kuwait Organized Yoga & Meditation Class on 12th July 2024

Tamilnadu Engineers Forum (TEF), Kuwait, is a leading Engineering organization in Kuwait, the one & only ISO certified engin...

Telugu Kala Samithi (TKS), Kuwait new Executive Committee for 2024-25

TKS is the 35 Year oldest Telugu based organization in Kuwait. It aims to perpetuate, integrate, and adapt the cultural heri...

American Society of Safety Professionals Kuwait Chapter conducted Annual General Body Meeting

American Society of Safety Professionals (ASSP) Kuwait Chapter conducted its Annual General Body Meeting for the term 2023-2...

IBAK conducted Summer Smash 2024

World Badminton Day will be celebrated annually on 5th July. In order to celebrate World Badminton day, The Indian Badmi...

Ernakulaam District Association Conducted Chess Tournament 2024

EDA conducted a Chess tournament at Abwab Institute, Salmiya dated on 28th June 2024. The tournament was inaugurated by Pr...

go top