Guide to Securing an Urgent Cash Loan in Kuwait as an OFW: What You Need to Know

1. Al Ahli Bank of Kuwait

Established in 1967, Al Ahli Bank of Kuwait specializes in both retail and commercial banking services within Kuwait City. It operates through a network of 29 branches across Kuwait, offering a wide range of financial services to its clients.

Eligibility

• Above 21 years of age at the time of application and not older than 60 years at the time the facility matures
• Earn a minimum monthly salary of QAR 6,000 assigned to your Ahlibank account
• Maximum monthly payments not to exceed 50% of total monthly salary

Required Documents

• Valid Qatar ID Card
• Passport with valid resident permit
• Salary certificate/salary assignment letter from your employer
• End of Service (EOS) assignment letter from your employer
• Liability letter from your existing bank titled to Ahlibank and 3 months bank statements (for buyout cases only)
• Post dated security cheques for the amount borrowed

Application Process

• Complete an application form at any of our branches
• Provide the documents listed above
• If your application is approved, you will be contacted by your branch

2. Commercial Bank of Kuwait

Founded on June 19, 1960, Commercial Bank of Kuwait holds the distinction of being the country’s second-oldest bank. The bank is recognized for its leadership in arranging urgent cash loan in kuwait that support the development of their country’s critical infrastructure.

Eligibility

•  Minimum salary required is 400 KD
•  Minimum service at current employer shall not be less than 4 months
•  The loan amount is calculated on the basis of salary, length of service and the amount of end of service.
•  The minimum age for receiving a loan is 21 years up to 59 years.
•  The applicant must be working in governmental sector, oil sector, or any of CBK listed company.
   

Required Documents

• A copy of your Civil ID.
• A salary certificate.
• A salary continuation certificate.

Application Process

• Visit their website
• Click Apply now
• Fill out the forms

3. National Bank of Kuwait

NBK acknowledges the distinct requirements of expatriates residing abroad, whether it’s for acquiring a new vehicle, renovating a home, or covering children’s educational expenses. NBK’s Expatriate Loans are designed for quick and straightforward approval processes.

Eligibility

• You should be younger than 65 years at the maturity of your loan
• Minimum salary should be KD 400 (eligibility conditions apply based on work sector)
   

Required Documents

• A copy of your Civil ID
• A salary certificate
• A salary transfer continuation certificate
• A copy of your passport

Application Process

• Visit their website
• Click Apply now
• Enter Your Civil Number

4. Gulf Bank

Gulf Bank, established in 1960 and recognized by the Central Bank of Kuwait, offers a diverse range of services including consumer and wholesale banking, treasury, and financial services. It officially became listed as Gulf Bank on the Kuwait Stock Exchange in 1984

Eligibility

• Expatriates with a salary of KD 300 and more with ESB or KD 400 and more without ESB. (End of Service Benefits)

Required Documents

• Valid Salary Certificate.
• Valid Civil ID and passport for expats.
• Valid receipts required within 6 months reflecting use for loan purpose.

Application Process

• Visit your Gulf Bank branch to provide the updated Salary Certificate
• Complete the application form.

5. QNB Kuwait

Established in 2009, QNB Kuwait initially focused on corporate banking, trade business, and treasury activities. By 2013, it expanded to serve individual clients with its retail business, introducing innovative products alongside Cash Management and Internet Banking services. In a move to enhance accessibility and customer service, QNB Kuwait inaugurated its second branch at the Avenues Mall in 2018.

Eligibility

• Monthly payments not to exceed 40% of the net salary for employees

Required Documents

• Assignment of salary to QNB Kuwait
• Salary certificate from employer
• 6 months bank statements (optional)
• Copy of original national ID/passport

Application Process

QNB offers an easy and convenient loan application. You can register for loan via smartphones.

• Log into QNB Mobile application
• Click on “Loan” from the main menu
• Click “Apply for e-loan”
• Complete all required information
• Submit the loan request
• Once your request is approved, you will receive an SMS to complete the process

6. Warba Bank

Warba Bank was founded on February 17, 2010, through an Amiri Decree with the goal of improving Kuwait’s economic conditions following a crisis. It became a part of the Islamic Banks Register at the Central Bank of Kuwait on April 7, 2010. The bank quickly gained the trust and met the expectations of Kuwaitis, establishing itself as a prominent figure in the banking industry, particularly as a pioneer in Islamic Digital Retail Solutions, in a relatively short period.

Eligibility

• Customer shall be 18 years or above
• If the customer is below 21 years old, his guardian shall sign on his behalf
• Customer salary shall not be less than KD 300
• Monthly instalments for employees shall not exceed 40% of the net salary including all commitments (and 30% for retired customers)
• Minimum financing of KD 1,000 and a maximum of KD 25,000
• Shortest payment period of 6 months up to 60 month

Required Documents

• Civil ID.
• Account statements for the last 3 months (6 months for private sector employees)
• Salary certificate and salary continuation certificate.
• Authorized signatory and PIFSS certificates (private sectors employees)
• Passport copy (for non-Kuwaitis)

Application Process

• Visit their official website
• Click apply now
• Fill out the forms

7. Commercial Facilities Company

Founded in 1977, the Commercial Facilities Company (CFC) emerged as Kuwait’s pioneer closed shareholding entity, focusing on offering installment credit facilities for both consumer and commercial products. CFC’s portfolio of services encompasses the financing of new and pre-owned vehicles, marine vessels and equipment, home furnishings and electrical appliances, essential construction materials, and the provision of personal cash loans. By 1982, CFC made its debut on the Kuwait Stock Exchange, marking its significance by becoming the first enterprise chosen for the Kuwaiti government’s privatization initiative. In a landmark move in September 1994, the Kuwait Investment Authority divested 47% of CFC’s issued shares to the private sector, further cementing its role in the market.

Eligibility

• Minimum salary is 300
• The total monthly obligations of the client does not exceed 40% of his net income and 30% in the case of retirees.
• The loan amount shall not exceed 25 times the income or twenty five thousand Kuwaiti Dinars, whichever is less
• Financing period does not exceed 60 months

Required Documents

• Civil ID for nationals
• A recent Salary certificate
• Passport for Non-Kuwaitis

Application Process

When applying to CFC, there are three methods available.

• Through their website
• Smartphone application
• 5 branches

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