Service DescriptionThe bank offers a loan of up to 70,000 KD (seventy thousand Kuwaiti dinars only) to purchase a house, an apartment, a shared house, or to build on a government or private parcel or a shared parcel for those entitled to housing welfare.
Eligibility or CriteriaSpecial Conditions for Housing Loans – Construction Requirements
The bank provides a loan of an amount not exceeding 70,000 K.D. solely for the purchase of a house or apartment (ownership), a shared house, or for constructing a government or private plot, or on shared ownership for beneficiaries of housing care.
Property Description – Government Private Plots: Land area: The plot to be constructed must not be less than 375 m², except for government plots and houses that were demolished and have not been subdivided, Existing built-up area: Must not be less than 360 m², Other conditions: The plot to be constructed must be registered in the name of the loan applicant with an independent deed and free of any encumbrances for third parties. This does not apply to government plots permanently allocated by the state to housing care beneficiaries.
Property Description – Constructing a Plot under the Separate Units System on Shared Ownership: Land area: Each unit must not be less than 375 m², Existing built-up area: Must not be less than 360 m². Other conditions: The common boundary between the two buildings must be structurally and architecturally separated, with separate services, Each unit must face a service road, The last three payments shall be withheld until separation is confirmed, An independent deed free of any encumbrances for third parties shall be issued with a mortgage on the common share.
Property Description – Black Structure (Shell Construction): Land area: Must not be less than 375 m², Existing built-up area: Must not be less than 360 m², Other conditions: Treated as a private plot construction provided that no more than two years have passed since the permit issuance (does not apply to finishing works), Loan is granted for remaining works according to the engineer’s statement, Consideration may be given in the future for lending the remaining balance according to the house’s needs.
Property Description – Demolition and Rebuilding of a Private Residential House or for Those Who Demolished Their Property Before Applying to the Bank: Land area: Must not be less than 375 m², Existing built-up area: Must not be less than 360 m². Other conditions: Ownership of the property must not exceed five years at the time of applying for the loan. A letter from Kuwait Municipality must be provided specifying the structural condition of the house (demolished or dangerous), along with a property description certificate if not demolished, A bank report must be provided stating the condition of the house if not demolished, If demolition is requested, the house must have been built at least 25 calendar years ago, If the house was demolished before applying to the bank, it must have been 35 years since its construction, The duration is calculated from the date of electricity connection to the date of demolition.
Property Description – Demolition and Rebuilding of a Mortgaged Property: Land area: Must not be less than 375 m². Existing built-up area: Must not be less than 360 m², Other conditions: Full repayment of the outstanding debt or 30,000 K.D., whichever is lower, must be made and registered as a commitment, It shall be applied to the final stages of construction.
Required Documents- Loan for Construction on a Private Plot : Documents required from the borrower: A copy of the salary certificate for entities that are not linked, A copy of the property ownership document from the Ministry of Justice, A building permit from Kuwait Municipality, not older than two years if available, A copy of the heirs’ listing in case the father is deceased.
- Documents required from the guarantor: A copy of the civil ID. A copy of the salary certificate for entities that are not linked.
- Loan for Construction on a Government Plot : Documents required from the borrower: A copy of the salary certificate for entities that are not linked (mandatory document), A copy of the heirs’ listing in case the father is deceased, A building permit from Kuwait Municipality, if available.
- Documents required from the guarantor: A copy of the civil ID. A copy of the salary certificate for entities that are not linked.
ProceduresApplying for the service is on the electronic portal and mobile application.
Fees| 0 KD | Variable fees | | 0 KD | Fixed fees |
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