Kuwait Finance House Enhances Financing Options with Auto, Boat, and Motorcycle Product Against Financial Guarantee

In line with its ongoing commitment to developing its financing services and delivering innovative solutions that meet the aspirations of diverse customer segments, Kuwait Finance House (KFH) continues to strengthen its “Financing for Cars, Boats, and Motorcycles Against Financial Guarantee” product. This product offers customers a flexible and rapid financing option to purchase new and used cars, boats, and land and water motorcycles, secured by a financial guarantee through investment deposits.

This product is part of KFH’s strategy to diversify Islamic financing solutions and enhance the customer experience by offering flexible and streamlined options that align with evolving customer needs, enabling them to obtain financing more efficiently and quickly.

The product stands out by providing financing for luxury cars, boats, and motorcycles without requiring salary transfer or deduction, nor the need for a guarantor or lengthy documentation and procedures. Financing is granted to individuals against a full financial guarantee, backed by a fixed deposit held by the customer.

The financing ceiling is based on the value of the financial guarantee, offering customers greater flexibility without being bound by a maximum installment or debt limit. The product provides a repayment period of up to 10 years, along with competitive profit rates and diverse repayment programs. Customers continue to earn profits on their deposit throughout the financing period, making it an ideal option for deposit holders who wish to leverage their financial assets while preserving their returns.

The product also enables fast transaction processing and approval based on the customer’s financial capacity, helping to save time and effort and allowing customers to easily acquire their desired vehicles.

In this context, KFH continues to offer a range of vehicle-related services through its showrooms and various sales channels. Notable among these are the “Amanah Sale” service, which allows customers to authorize the bank to sell their vehicles through its showrooms, and the vehicle valuation service, which helps customers leverage the value of their current vehicles when looking to purchase new ones.

The product aims to enhance the added value for the bank’s deposit and savings account holders by integrating financial services and products into a comprehensive system that delivers additional benefits to customers. This contributes to strengthening long-term relationships and providing a more distinguished banking experience.