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Refinancig Loans In Kuwait
Following recent decisions of the Central Bank of Kuwait on refinancing loans – a link to the announcement can be found here, and you can view the latest CBK regulations here.
What is Refinancing Loans or Renewal of Loans-
For Example
If your Salary is 1000 KWD so your are elgible for 15 times of your salary that is 15000 KWD
So if you took a loan of 15000 KWD
and if you paid for two years and cleared an amount of 5500 KWD then your loan balance amount is 9500 KWD
Again if you are in need of money you can apply for new loan
As you are elgible amount is 15000 KWD , You can apply for refinancing loan then bank will cut the balance amount 9500 KWD and will give you 5500 KWD
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