Kuwait Finance House Strengthens Financing Options
Kuwait Finance House enhances its auto, boat, and motorcycle financing products with financial guarantees.
Translated by Qiyas from الجريدة — Original source
In line with its ongoing commitment to developing its financing services and providing 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 fast financing option to purchase new and used cars, boats, and land and water motorcycles, backed 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 options with streamlined procedures, aligning with their evolving needs and enabling them to obtain financing more efficiently and quickly.
The product stands out by allowing financing for luxury cars, boats, and motorcycles without the need for salary transfer or deduction, a guarantor, or lengthy documentation and procedures. Financing is granted to individuals against a full financial guarantee, secured by a fixed deposit held by the customer.
The financing ceiling is based on the value of the financial guarantee, providing greater flexibility to customers without being bound by a maximum installment or debt limit.
The product offers 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 choice for deposit holders who wish to leverage their financial assets while preserving their returns.
The product also enables rapid transaction processing and approval based on the customer’s financial capacity, saving time and effort and allowing customers to easily acquire their desired vehicles.
In this context, KFH continues to offer a range of services related to the automotive sector through its showrooms and various sales channels. These include the “Amanah” selling service, which allows customers to authorize the bank to sell their vehicles through its showrooms, as well as a vehicle valuation service that helps customers benefit from the value of their current vehicles when purchasing 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, thereby strengthening long-term relationships and providing a more distinguished banking experience.
