Kuwait Finance House (KFH) continues to enhance "Car, Boat and Motorbike Financing against cash collaterals " product. The product provides customers with a flexible and swift financing method to acquire new and used cars, boats, and both marine and land motorbikes, against financial guarantees through investment deposits. This comes as part of KFH ongoing commitment to develop financing services and innovative solutions to meet the aspirations of various customers segments.

The product is part of KFH’s strategy to diversify Islamic financing solutions and enhance customer experience by offering flexible options and ease procedures to meet their needs and obtain financing in a more efficient and faster way.

The Car, Boat and Motorbike Financing against cash collateral does not require salary transfer or deduction, a guarantor or lengthy documentation and procedures. Financing is granted to individuals against a full financial guarantee on the debt, with a fixed deposit held by the customer.

Financing limits against collateral are determined based on the value of the cash collateral, providing more flexibility for customers without being bound by a maximum installment or debt limit.

Furthermore, the product offers adjustable payment period of up to 10 years, along with competitive profits rates and various payment programs. The customer continues to earn deposit profits throughout the financing period, making the product ideal for deposit owners to benefit from their financial assets while maintaining their returns.

In addition, the product enables fast processing of transactions and obtaining approvals according to the customer’s financial position, helping shorten time and effort and allowing customers to acquire the vehicles they desire easily and smoothly.

Among the main services KFH provides in the auto sector through its showrooms and various sales channels is the Amanah car sale service, which allows customers to authorize the bank to sell their vehicles through KFH Auto showrooms. Another key service is vehicle valuation, 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 owners and savings account customers by linking financial services and products within an integrated system that provides additional benefits, contributing to reinforcing the long-term relationship and providing exceptional banking experience.