Purchase Loans

This service is provided by Kuwait Credit Bank
Skip Navigation LinksKuwait Government Online > Citizens and Residents > Housing > Purchase Loans

Service Description

  • The Bank offers a loan of up to KD 70,000 (seventy thousand Kuwaiti Dinars only) for the purchase of an owner-occupied apartment, a shared house, or for construction on a government or private plot, or on a shared plot, for those entitled to housing welfare.​

Eligibility or Criteria

  • It is required that the property (the house or apartment) intended for purchase be fit for habitation and not leased to third parties, with the following conditions:
  • Property Description – Apartment: Land area requirements: None, Existing built-up area requirements: The total area must not be less than 360 m², and the net area not less than 200 m², excluding the common share, Other conditions The cost per square meter shall be deducted if the total built-up area is less than 360 m² in accordance with the applicable decision, with a maximum of 30 m².The deducted amount may be re-granted as part of the loan for government apartments, provided that renovations are required.
  • Property Description – House: Land area requirements: None.
  • Existing built-up area requirements: Must not be less than 280 m². Other conditions:The cost per square meter shall be deducted with a maximum of 30 m², while the borrower retains the right to receive the deducted amount to construct the missing area.
  • Property Description – A) Undivided shared ownership, not structurally separated: Land area requirements: Must not be less than 750 m², and each share must not be less than 375 m².
  • Existing built-up area requirements: Must not be less than 280 m² for each of the two parties. Other conditions: Must be between the son and one of his parents or one of his siblings (male or female), The house must be architecturally separated so that each has its own private entrance, Applications that do not meet the second requirement relating to architectural separation may be approved if approval from the Municipality is submitted. and the cost of the modifications will be withheld from the loan amount until completion, Neither party may individually request the sale or demolition of the purchased house, A separate deed shall be issued for each party with a mortgage over the entire property in full .
  • Property Description – B) Shared ownership structurally and architecturally separated (separate unit system): Land area requirements: Must not be less than 750 m², and each share must not be less than 375 m², Existing built-up area requirements: Must not be less than 280 m² for each party.
  • Other conditions: The common boundary between the two buildings must be structurally and architecturally separated, as well as all services (electricity – water – sewage), with a copy of the permit and the layout plan provided. Each of the two units must face a service road. A separate deed shall be issued with a mortgage on the common share.​

Required Documents

  • A copy of the seller’s civil ID.
  • The heirs’ listing in case the father is deceased.
  • A copy of the property ownership document for the property to be purchased. (Mandatory document when signing the contract)
  • Seller’s approval. (Not mandatory when submitting the application)
  • Documents required from the guarantor:
  • A copy of the civil ID.
  • A copy of the salary certificate for entities that are not linked.

Procedures

Applying for the service is through the electronic portal and the mobile application.​

Fees

0 KDVariable fees
0 KD Fixed fees
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Downloadable Forms

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