Name of the Organization : Commercial Bank of Kuwait
Type of Facility : KD/FC Saving Account
Country : Kuwait
Website : http://www.cbk.com/en/retail-banking/index.cfm?c=180
KD/FC Saving Account :
What is it?:
An interest earnings account with a fixed interest rate.
Related : CBK KD Privilege Account : www.statusin.org/5890.html
Who Qualifies?:
Any individual customer.
Why is the product used?:
To invest money.
Features:
** Minimum deposit to open account is KD 100/- with no maximum.
** Fixed interest rate will be accrued on a minimum monthly balance.
** Interest will be paid monthly
** No interest will be paid if the balance drops below KD 1000/-
** Salary may be credited to the account .
** The account entitles the customer to an ATM (Starlink) card, together with the privilege of applying for a consumer loan and access to other products.
Benefits:
** Convenient investments even for small amounts.
** The customer is unaffected by interest rate fluctuations.
** Interest will be paid semi-annually; May and November.
** The account can be blocked as collateral.
** Unlimited number of withdrawals and deposits .
** Standing instruction facilities are available.
FC Saving Account:
What is it?:
A foreign currency interest earnings account with a fixed interest rate.
Who Qualifies?:
Any individual customer.
Why is the product used?:
To invest money.
Features:
** Available in all major currencies.
** Minimum deposit to open the account is equivalent to KD 100/- with no maximum.
** Fixed interest rate will be specified by the bank from time to time.
** Interest accrued on the min. monthly balance & payable monthly.
** Statements are sent quarterly.
** 1% commission is charged on cash withdrawals if the cash is of the same currency as the account.
** 1/4% commission is charged as an exchange compensation for external transfers made from the account in the same currency.
** 1/8% commission is charged as an exchange compensation for local transfers made from the account in the same currency.
** The account entitles the customer to get an ATM (Starlink) card.
Benefits:
** Convenient investments even for small amounts.
** The customer is unaffected by interest rate fluctuations.
** The account can be blocked as collateral.
** Unlimited number of withdrawals and deposits .
** Standing instruction facilities are available.
FAQs :
What are the required documents to apply for a loan if I am (non-CBK Client)?
** Salary Certificate.
** Six Months account statement.
** Liability letter.
** Civil ID and work ID (for employees of Ministry of Defense, Interior and Oil sector)
** Copy of passport (for Non Kuwaitis).
What are the required documents to apply for a loan (CBK Customer)?
** Continuation of Salary letter.
** Civil I.D and work ID (for employees of Ministry of Defense, Interior and Oil sector)
** Copy of passport (for Non Kuwaitis).
Which ATM machines withdraw USD ($)?
The following branches include the withdrawal of USD dollars :
** MAK
** Salhiya
** Salmiya
** Farwaniya
** Airport
** Fahaheel
** East ahmadi
** US Embassy
What is the daily withdrawal limit on my CBK card?
CBK cardholders have the ability to withdraw cash amounts up to KD1, 000/- daily & usage on POS up to KD10, 000/- also daily.
What is Starlink plus?
This facility will allow the Starlink card holder who his/her salary is transferred to the bank getting amount up to 50% of the salary in advance through CBK ATM machine and POSs.