If I borrow 100,000 in peso. How will I pay and...

Dear Customer,                                

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We would like to inform you that if you obtained a loan from any particular party, the repayment period and the interest rate will be determined according to your monthly income source in agreement with the bank or the entity from which you will take the loan, so go to the bank you wish to obtain a loan from and it will assist you in this regard.

In all cases, based on CBK instructions, the maximum amount of the consumer loan and the installments loan is 15 times the net monthly salary of the client (after deductions) or the continuous monthly income with a maximum of 15,000 KD for the consumer loan. As for the simplified loan, the maximum allowed amount is 70 KD thousand, including the value of the consumer loan granted to the customer. The maximum monthly premium is 40% of the net monthly salary (after deductions) or the continuous monthly income of the client for the employees or 30% for the retirees. The maximum repayment period of the consumer loan is five years and may be extended by a maximum of one year in the event of default. The simplified loans are repayable for 15 years and may be extended for a maximum of 3 years in case of default.

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