KFH Provides Financing against Cash Collaterals Online
Abdul Aziz Al-Saeed, Executive Director of Personal Finance Products at Kuwait Finance House, said that financing against cash guarantees via the Internet is one of the most effective financing solutions that Kuwait Finance House offers to its clients. This innovative solution addresses their financial needs directly.
Al-Saeed added that this service enables customers to submit a financing request 24 hours a day, 7 days a week without the need to visit Kuwait Finance House branches. Customers with investment deposits or savings accounts can obtain financing for their purchases without facing restrictions on installment amounts or indebtedness, or having to submit different documents or fulfill additional requirements. This product meets the business needs of retail customers who want to start their own business in various fields, including real estate, healthcare, engineering, law, crafts, fitness, automotive and more.
He explained that financing is determined by the value of the deposit or the amount frozen in the customer’s savings account. Financing is granted against guarantees covering the full amount of the debt. This guarantee is placed either on a fixed deposit or on a blocked amount in the client’s personal savings account.
Customers enjoy additional benefits such as competitive earnings and a credit period of up to 10 years, with a simple and hassle-free transaction process. Deposit profits remain accessible to clients and are not tied to a specific transaction. Furthermore, customers can utilize multiple deposits to secure financing for a single transaction, and there is no maximum financing limit provided that the value of the deposit covers the debt amount in accordance with regulations.
This service confirms Kuwait Finance House’s commitment to providing new financing solutions at competitive prices. This service simplifies the application process, reducing time and effort for customers. For example, the service eliminates the need for direct deduction from salary, certificates or guarantors, ensuring a fast transaction that meets customer needs. Moreover, customers continue to benefit from special profit rates distributed to their deposit and savings accounts, even after obtaining financing.
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- Source of information and images “arabtimesonline“
