Kuwait Finance House Enhances Financing Options with Car and Boat Finance Product
Kuwait Finance House enhances its car and boat financing product with financial guarantees.
Translated by Qiyas from النهار — Original source
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 acquire 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 and streamlined options that align with evolving needs, enabling customers to obtain financing more efficiently and quickly. The product stands out by allowing 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, secured by a fixed deposit held by the customer. Moreover, the financing limit is based on the value of the financial guarantee, providing greater flexibility to customers without being constrained by a maximum installment or debt cap.
The product offers a flexible repayment period of up to 10 years, alongside 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 rapid transaction processing and approval based on the customer’s financial standing, 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 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 within a comprehensive ecosystem that delivers additional benefits to customers. This approach contributes to strengthening long-term relationships and providing a more distinguished banking experience.
