Kuwait Finance House Personal Loan

About Kuwait Finance House (KFH)

Kuwait Finance House (KFH) is the first Shariah-compliant and largest Islamic bank globally, founded in 1977. It mainly operates in the Middle Eastern countries, and in 2005, it began operating in Malaysia, with Malaysia being its regional headquarter. KFH offers various financial services for individuals or corporations that are Shariah-compliant.

What is a personal loan?

A personal loan is a financial transaction where a sum of money is borrowed for various purposes by individuals, organisations, or other entities to other persons, organisations, or entities. The borrower must repay the money they borrow over time, usually with interest. Personal loans may be subject to fees from some lenders.

What type of personal loan does KFH offer?

KFH provides 1 type of personal loan, which is Murabahah Personal Financing-i Generic, an unsecured personal loan that applies the “Murabahah Tawarruq” concept with a flat profit rate.

What are the eligibility to apply for Murabahah Personal Financing-i Generic?

You are eligible to apply for Murabahah Personal Financing-i Generic if you are a:

  • Malaysian citizen
  • Between 21 to 60 years
  • Minimum monthly income of RM3,000
  • A permanent staff of an MNC, PLC, and GLC (and its subsidiaries)

Why should I choose Murabahah Personal Financing-i Generic?

  • Shariah-compliant financing
  • The profit rates are competitive
  • Guarantors are not necessary
  • Financing amounts from RM5,000 to RM150,000
  • 2-8 years of tenure
  • Inclusive of takaful

There are other reasons you should choose Murabahah Personal Financing-i Generic.

What are the documents required to apply for Murabahah Personal Financing-i Generic?

  • For new customers, you are required to provide:
    • Copy of NRIC
    • Copy of latest 3-month salary slip
    • Copy of latest 3-month EPF statement
  • For existing customers, you are required to provide:
    • Copy of latest 2-month salary slip
    • Copy of latest 3-month EPF statement

What are the fees included in Murabahah Personal Financing-i Generic?

  • Brokerage fees

    Proportionate as per the sum of money borrowed

  • Stamp duty

    0.5%

  • Takaful

    Depends on the customer’s profile

Who should I contact for further information about Murabahah Personal Financing-i Generic?

You can contact KFH:

What are the common terms of personal loan?

  • Per Annum (p.a.)

    The interest rate over one year with the assumption that interest is compounded annually.

  • Tenure

    The period you must repay your loan.

  • Principal

    Principal is commonly known as the loan amount you requested from the bank.

  • Interest rate

    Principal is commonly known as the loan amount you requested from the bank.

  • Instalment

    Instalment is the fixed amount you must repay your personal loan every month until the term expires.

  • Penalty

    A fee that a bank will levy on your overdue amount if you are late with your repayment.

  • Default

    The term used to describe a situation in which a personal loan is not paid off for more than three months.