Seeking to provide the best financing solutions and diversified banking services that meet its customer’s needs, KFH has launched KFH-Pass service "Postpone your Installments as needed". The new service allows customers to postpone the one of their installment payments.
The Group deputy general manager Products at KFH, Mohamed Ghandour said that KFH designed this service to facilitate the needs of customers and their lifestyle. By applying for a personal finance, customers are able to choose a month in a year to postpone a payment.
Through KFH- Pass service, Ghandour explained that customer can schedule one monthly installment after completing the transaction via KFHonline or the KFH application for smartphones. This service gives customers more flexibility in changing the month they wish to postpone their installments during the financing period according to their personal needs Ghandour added that the goal of KFH Pass service is to provide more flexibility for customers to relieve them from the burden of their other monthly expenses, such as school payments, summer travel season, etc. The service also helps customers to meet their other emergency financial obligations when needed, easily postponing the date of installments due without the need to visit the bank branches.
“Customers are able to select the expected postponement months when applying for funding. In doing so, the total funding period should not exceed the maximum repayment periods set by the regulators, 60 months for the consumer financing or 180 months for the housing financing. Customers are entitled to choose the deferred month each year with a maximum of 5 months for consumer financing and 15 months for housing financing.”, Ghandour added.
He also noted that KFH has previously launched several online banking and financing services such as KFH Auto, KFH Express and Personal Finance Application Online. KFH Pass is aimed at enhancing the flexibility of paying financing installments, enabling customers to manage their monthly financial obligations as per KFH’s strategic plan for digital transformation.
He said that the new KFH-Pass service will be available to KFH customers who have a regular salary transfer at the bank, when requesting new consumer or housing financing, starting from the launch date of the service.
KFH is keen to provide its customers flexible, safe and fast banking and financing services in accordance with the highest standards of the online banking realm.