Opening a bank account in Kuwait

Hi Julien,

If you have a valid residency in Kuwait then you simply need your civil ID, your cash deposit amount and that's pretty much it. Unless it's the salary account where the company sponsoring you would take care of that. Otherwise for individual account you just need to be at the bank with your civil ID and that is it.

There are no restrictions on loans or any financial facilities but there are limits to how much you can get depending on the place you work for, the more liable the place you work for (i.e: Ministry, large corporate, etc) the more chances of getting your loan request accepted, the amount of loan or facilities depends on your salary.

from my own personal experience, Gulf bank offers a good service.

Thanks for your contribution moe29!

Harmonie.

i cant open one with any of the banks.

why Ace? u can get an Al-Azrag account with NBK, or Al-Shabab (not the Somalia ones) account.

When it comes to loans, best first option is to go for the company u work for, coz that would be interest free, then ask banks for money.

they will offer u a credit card, free of charge for the first year, which u should decline, and check your bank statement as they have been known to withdraw the annual fees even if u declined the offer.

most savings accounts have a restriction in the form of u must maintain a monthly minimum balance (usually 100KD), if not, the bank will deduct 2KD from ur balance.

the beauty of banking in Kuwait is that almost everyone has a POS service, meaning u can pay with plastic as opposed to cash, negating the fact to carry cash around.

if u dont work ?
u go to burgan bank make a vip card
pay 10kd fee each year
no matter what age u are u can do it ;p

#1 bank in Kuwait is (NBK)

And there are limits and restrictions for foreigners when taking loans,

For Auto Loan:

Maximum amount cannot exceed 15,000KD
Minimum Salary to take loan should be 400KD
Your monthly installment cannot exceed 40% of your basic salary.
Repayment maximum 60Months.
Rate of interest is %5.5 pa.

For Consumer Loan:

Maximum amount cannot exceed 15,000KD
Minimum Salary to take loan should be 400KD
Your monthly installment cannot exceed 40% of your basic salary.
Repayment maximum 60Months.
Rate of interest is %5.5 pa.


For Family Loan
Maximum amount: 50,000KD
Repayment in 84 Months.
Monthly Installment: 730KD

Your salary should be above 2000KD monthly in order to take this loan, and they probably won't give it to you even if your salary is over 2000KD. but you can try anyway.

lol i was thinking of taking a loan if 2.1 million KD.loool.

hi julien ..  bank account thats so easy u can do it in 10 minit in any bank .. about the bank thats dependes .. of u want profits go al-tamwel bank they give 8% but if u have business the nbk bank its better

Assalamu alaikkum everybody,
           I am from india, which kuwait bank has online moneytransfer to UBS Bank of switcherland can money transfer to easily please inform me.
Thank you

Hi every one,

And if you just have  a multi entry visit visa ?? No bank account?

Richard

Hi i just want to know if the passport is one of requirements in opening a tie up bank account?

Thanks in advance

yes it is