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    This is for demonstrative purpose only. Call 1801801 or visit a branch for exact calculations.

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    The above approximate calculation of the loan is for guidance only and does not entail any kind of obligation or liability on the bank. This operation and its result assumes that you have paid all your installments on time, your loan term did not have a grace period and you have not made partial payments to your loan. Kindly note that Government loans cannot be refinanced.Please contact 1801801 or visit any branch to confirm.

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Banking Basics

Accounts and Packages

What is a Current Account?

A Current Account is an account with no interest, it may be opened with all major currencies with the option of issuing a cheque book. This account has the flexibility of depositing and withdrawing easily and the facility of overdraft. A debit card is offered with this account.

What is a Savings Account?

Savings account provides customers with interest depending on their balances. There are several types of savings accounts with different features and benefits to meet your needs. Some account types may be opened in all major currencies. A debit card is offered with this account. No cheque book is offered with this account type.

What is a Standing Order?

A standing order is an instruction to a bank by an account holder to make regular fixed payments to a particular person or organization. This service is provided to customers for a fee. Fees differ depending on the type of standing order if it was personal or to an organization.

What is a Fixed Deposit?

A Fixed Deposit is an account where you deposit a certain amount and it will provide you with higher interest rates than a savings account but imposes conditions on the amount, frequency, and/or period of withdrawals.
More information about Fixed Deposits.

What are bank fees and charges?

The term bank charges covers all charges and fees made by a bank to their customers with regards to certain services and products. These charges may take many forms such as monthly, annual or once a customer initiates a transaction or requests a service.

What is a package?

A package is a customized complete banking solution designed to meet your needs. It includes products, services and benefits that suit your lifestyle.
More information about NBK Packages.

Does a bank offer accounts for individuals under 18 years old?

Yes they do. But for customers under 15 years old, they must have a qualified guardian in order to open the account.
More information about NBK Packages.

How does a customer under 15 years old make withdrawals?

Withdrawals must be done by the guardian.

What is a Loyalty Program?

A loyalty program is a rewards program offered by a bank to customers who frequently make purchases using their products. A loyalty program may give a customer free merchandise, rewards, coupons, or even advance released products. This is the most common loyalty program methodology. Frequent customers earn points, which translate into some type of reward. Whether it’s a discount, a freebie, or special customer treatment, customers work toward a certain amount of points to redeem their reward.
More information about NBK Rewards Program.


What is a MICR code?

MICR (Magnetic Ink Character Recognition), is a character recognition technology which helps in faster processing cheques. Every bank branch is given a unique MICR code and this helps to speed up the cheque clearing process.

Do all cheques have to have an MICR code?

Yes, for cheques to be processed in the State of Kuwait, an MICR code is required. The MICR code contains data required to process the cheque.

Can my cheques be of any size or are there guidelines around standard cheque sizes?

As per the Central Bank of Kuwait’s instructions to all local banks, only cheques meeting the standard size requirements will be accepted for processing. Cheques should either be 20.3 cm x 7.6 cm or 22.8 cm x 8.9 cm.

Are there any specific security features that I need to adhere to?

Cheque books issued by NBK comply with all security features as stipulated by CBK and these include:

  • Type of paper used which does not allow for cheques to be photocopied.
  • Special type of ink.
  • Watermark as part of the cheques.
  • UV logo.

I am the beneficiary of a non-standard cheque from someone else. What do I need to do?

Please contact the individual who has provided you with this cheque and request that they provide you with a new standard cheque. Soon, it will not be possible to process this cheque at any local bank.

Is it advisable to leave cheques under direct sunlight like for instance in a car?

No, it is not. Direct sunlight damages the UV security features which would make it impossible for this cheque to be processed by NBK.

What do I have to remember when dealing with cheques?

  • Do not write or sign over the MICR code at the bottom of the cheque.
  • Generally keep cheques in a good condition - it should not be folded or stapled to the paper. Make sure that your cheques are not damaged in any way (ie: torn, folded, crumpled).
  • The cheque should not be exposed to direct sunlight nor kept in a hot place e.g. in a car in direct sunlight as this can damage the UV logo.
  • Ensure the availability of sufficient funds in the account before issuing cheques (cheques returned due to insufficient funds may lead to criminal prosecutions and/ or closure of your account by NBK).


1. Interest Rate and Fees

What is the interest rate and fees charged on loans?

The maximum interest rate for new loans is 5.5% per year calculated on reducing balance.

This rate is subject to change depending upon changes to declared interest rates of CBK.

The interest rate on loans will remain fixed for 5 years after which it may be changed as per CBK declared interest rates, provided that the change does not exceed 2% (either by increase or decrease) over the applicable interest rate at borrowing.

Application fees, partial payment fees or full prepayment fees are not charged.

2. Monthly Installment

Will the monthly installment change over the loan tenure?

Monthly loan installments are always fixed but may be increased or reduced at the end of every 5 years to reflect any change in the interest rate. For example, if the loan tenure is 15 years, the installment may be changed twice: first change will be at the end of the 5th year and the second change at the end of the 10th year.

3. Loan Insurance

Can Customers insure their loan?

Yes, NBK gives customers the option of insuring their loan by sharing half the insurance cost with the customer. In the event of death, the outstanding balance of the loan is settled by the insurance company. Insurance premium is charged monthly. NBK ensures that irrespective of insurance rates the customer’s total payout will not exceed 2% of the loan amount over the loan term.

4. Proof of Loan Purpose

What is the proof of loan purpose?

As per CBK regulations, customers must now submit evidence which proves that the loan was indeed used for the purpose it was granted. Customers have up to a year to submit the documents pertaining to their loan amount.

The following categories of loan use are allowed:

  • Consumer loans: for purchase of consumer and durable goods; educational expenses; medical purposes and vehicles.
  • Installment Loans: For purchase or renovation of private residence.

5. Reflection period

What is the reflection period?

The Central Bank of Kuwait has given instructions to all banks that they must give all loan applicants a minimum reflection period of two working days.

The purpose of reflection period is to give sufficient time to customers to evaluate all options, read the terms and conditions and then makes a decision.

Only loans required for medical expenses are exempted and can be granted without regard to such period.


What is a Debit Card?

A debit card is a form of payment where the customer can purchase an item using money that is deposited in his bank account without the need to withdraw it in cash.

Who is eligible for a debit card?

All customers that are currently holding an active account with the bank qualify for a debit card. In the case where it is a new customer, they will receive a debit card instantly when opening the account at the branch.

Where can I use the my NBK Debit Card?

The NBK Visa Platinum Debit Card provides direct access to your account and can be used at millions of locations worldwide at ATMs, Point of Sales and local websites.

What is a Credit Card?

A credit card is a form of payment where the customer can make purchases using borrowed money from the bank. This amount can be paid at a later date.

How do I pay back the Credit Card?

There are 2 ways to pay for the credit card: in monthly installments or one full payment. Paying in monthly installments will have extra charges associated that are called “flexible payment fees”. Paying the full amount is free and no extra charge is required.

What is the difference between a Credit Card and a normal ATM card (also knows as a Debit Card)?

The main difference is using your debit card will directly reduce your account balance. Paying with your credit card doesn’t and you have more payback flexibility.

Where can I use my Credit Card?

You can use your Credit Card internationally or locally on the ATM machines to withdraw cash, on PoS that accepts credit card payment, or online if a merchant accepts credit card payments.

Is it safe to use my NBK Credit Card?

Absolutely! All NBK Credit Cards have chip for extra security which complies with EMV standards. In addition, NBK Visa and MasterCard support 3D Secure which adds an extra layer of security when using the credit card online.

What fees are associated with Credit Cards?

Generally, your relationship officer should discuss the fees for your specific card with you. You should be aware of the yearly fee of the credit card, the monthly flexible payments fee, the over limit fees, cash advance fee and late payment fees.
More information in the ‘Fees & Charges’ section for your Credit Card.

Can I monitor my Credit Card usage?

Yes, you can monitor your Credit Card usage either by requesting a credit card statement through the branch, call center, or by accessing your account on NBK Online or Mobile Banking.

What is a prepaid card?

A Prepaid card is a form of payment where the customer can purchase an item using a money that has been loaded from a bank account.

How do I load a prepaid card?

Prepaid card can be loaded from bank accounts only.  It is either through one of the bank branches or through one of the electronic channels that the bank provides the customer with depending on the bank capacity.

How can I load a prepaid card using cash money?

The money has to be deposited into a bank account before it can be transferred to a prepaid card.

What is the difference between a prepaid card and any other card?

The main feature in using a prepaid card is to provide the customer with the convenience of budgeting their spends give that the prepaid card allows the customer to use only the amount that he loaded to the card.

How can I use my prepaid card?

You can use your prepaid card internationally or locally on points of sales for purchases, or online if the merchant accepts online cards payments.

How safe it is to use my prepaid card?

Using a prepaid card is the safest method of payment given that it has a chip for extra security which complies with EMV standards. The prepaid card will only allow you to use the amount that you loaded to the card without exceeding the budget to reach the main account or the need to borrow money from the account. In case the card is lost or stolen, the card could be immediately blocked if you contact the bank and your loaded money will be locked for you.

Can I monitor my prepaid card usage?

Yes you can monitor your prepaid card usage either by requesting prepaid card statement through the branch or call center, ATMs, or through accessing your account on online.

How can I get a prepaid card?

You can request a prepaid card through any of the bank branches, call center, or through the NBK Online Banking page if you are an existing customer.

What is a gift card?

The gift card is a prepaid card. Gift cards are loaded with a set amount of funds and can be used for multiple purchases for as long as the value remains on the card. Giving a gift card puts the power of choice in the hands of your friends and family.

How does a gift card work?

The gift card is a "non-reloadable prepaid" card, meaning the initial value is set by the person who purchased the card. Additional funds cannot be added later. As with a credit card, when you are ready to pay, simply hand the card to the cashier and sign the purchase receipt. Each time you make a purchase, that amount is automatically deducted from the card balance. It is best to personally keep track of your balance, as most merchants will not be able to tell you.

What do I need to include when giving the gift card as a present?

When giving as a gift, provide the recipient with all materials you received with the card upon purchase, including terms and conditions for use. If you are giving the card to a young person who has little card-use experience, you may wish to review the materials together.

What should I do if my gift card is lost or stolen?

Report a lost or stolen card immediately, by calling the call center or visiting the branch. You will need to provide the lost or stolen gift card number for it to be cancelled and a replacement issued. Be sure to write down your card number and keep it in safe place in the event that your card is ever lost or stolen. To ensure authorized use of your gift card, be sure to sign the back before using.

How do I know the value of my gift card?

Look for the initial balance in the card materials that come with your card at the time you receive it. These card materials provide important information, including the terms and conditions for using your card, so please read them carefully before using the card.  It is important to know the remaining balance before making a purchase, as making a purchase for an amount greater than your balance could result in a denied transaction.  When making a purchase, be sure to record the amount and make note of your new balance.

What should I do with my gift card when the value has been spent?

Keep your card in case you have to return any purchases made with the card. If you do try to return items that you’ve purchased with your gift card, the store’s policy may require you to present the card used to make the purchase. You should destroy the card once you are sure there is no further need.

What if my card is expired?

If your card has expired, you have no returns to make and there is no remaining balance on the card, you may destroy the card.

Where can I use my gift card?

Unlike store-issued gift cards, your gift card is intended for use anywhere Visa cards are accepted.

How much does it cost to get a gift card?

You can issue a gift card for your beloved ones by paying the issuance fee only through any of the branches or through online-banking.

Customer Protection Guide

Central Bank of Kuwait’s (CBK) continues to sustain efforts aimed at the protection of the banking sector customers, by continuously enhancing the concept of transparency and disclosure in financial and banking transactions carried out by banks for their customers in all sectors. CBK is committed to creating a convenient environment to safeguard customer rights, in the framework of a balanced relationship between the banks their customers providing the required protection to the banking sector, in accordance to the world’s best practices in this regard. Download the “Bank Customer Protection Guide” which contains the guidelines set by the Central Bank of Kuwait’s board of directors.

Your Responsibilities

In the framework of designation of the Customer responsibilities and obligations, he shall have to comply with the following:

  • The information he submits to the bank with which he deals must be authentic.

  • He must read carefully all documents the bank provides to him for obtaining any service or product, with the necessity to identify any fees, commissions or any other liabilities or obligations laid down on the customer. The customer shall have to keep a copy of these documents before any financial or banking obligation is created on him.

  • In event the customer does not understand any of the conditions or the procedures relevant to the product or service he desires to obtain, he shall have to submit his queries to the concerned bank staff, so that he can take his decisions based on clear and complete vision.

  • The customer must comply with the procedures for submittal of the complaint, including the grievance measures to the Customer Protection Unit at the Central Bank of Kuwait.

  • The customer shall have to identify the risks that may arise as a result of his use of a product or service rendered by the bank, through the queries addressed to the concerned persons on the impacts ensuing from these risks, and shall have to avoid such risks as much as possible.

  • The customer shall have to select amongst the products and services offered to him the ones that are most convenient to his circumstances and actual real capabilities to satisfy his actual requirements.

  • He must immediately advise the bank with which he deals of any banking transactions made on his account which he does not know anything nor does he know their reasons, or those transactions which have not been authorized by him.

  • He must be cautious and vigilant in maintaining the confidentiality of his private information relevant to his transactions with the bank, and shall not disclose such information to any third party for safeguarding his monies.

  • He must seek the advice and consultancy from the bank concerned staff in case he encounters any financial difficulties that may lead to his failure to satisfy the conditions of the contract concluded with him or use of the products and services rendered to him.

  • He must update his personal and banking information with the bank when requested to do so by the bank, or in event of change of these information.

  • To confirm maintaining the banking confidentiality, and in the event where the customer needs to communicate with the bank he deals with by normal courier or email, he must use the postal address belonging to him to avoid access by any other person to his personal and banking information if he used an address that does not belong to him.

  • In the event the customer needs to grant an authorization or proxy to another person to transact on his accounts or monies with the bank, he must be cautious concerning the authorities and information granted to the attorney, and to take the necessary action immediately upon his desire to revoke the proxies and to advise the bank of the same.

  • Not to sign any financial documents, blank or incomplete information contracts, and he has to check these documents which the bank submits to him before their signature.

  • It is necessary for the customer to maintain in a safe place copies of documents of transactions with the bank for ease of reference to these documents when necessary.

Submitting Complaints

If you are unsatisfied with the response to a complaint you have submitted, follow this step-by-step guide to submitting complaints to entities subject to supervision by the Central Bank of Kuwait.


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