Loan Topup
Type of loan Consumer Loans Housing Loans

What is a loan topup?

 If you have an existing loan with Gulf Bank, you may be eligible to take a new loan with Gulf Bank that will be used to settle your old loan and give you access to additional funds. If you have an existing loan with Gulf Bank, you may be eligible to take a new loan with Gulf Bank that will be used to settle your old loan and give you access to additional funds.

Qualifying Requirements
  • 30% of customers existing loan installments must be completed.
  • Must be same type of loan (Consumer to Consumer).
  • 30% of customers existing loan installments must be completed.
  • Must be same type of loan (Installment to Installment).

Qualifying loan purposes
  • Financing personal consumption needs and cars.
  • Purchase of private house.
  • Repair of private house.
    (non-commercial)

Number of months to repay your loan
  • Up to 60 months.
  • Up to 180 months.

Maximum amounts you may borrow
  • Up to KD 25,000 (or 25 times net monthly salary, whichever comes first).
  • Up to KD 70,000.

Required minimum net monthly salary (after deductions)
  • KD 300.
  • KD 300.

Required documents
  • Valid Salary Certificate.
  • Valid Civil ID and passport for expats.
  • 6 months bank statement.
  • Valid receipts required within 6 months reflecting use for loan purpose.
  • Valid Salary Certificate.
  • Valid Civil ID and passport for expats.
  • 6 months bank statement.
  • Valid receipts required within 12 months reflecting use for loan purpose.

Installment as a percentage of your monthly net income
  • 40% for Employees.
  • 30% for Pensioners.
  • 40% for Employees.
  • 30% for Pensioners.

Expected time to receive your loan
  • Customers have a two working day review period before loan is disbursed except for Medical Purposes.
  • Customers have a two working day review period before the loan is disbursed.

Subject to Gulf Bank Credit Policy.

Additional information

  • If you have an existing loan with Gulf Bank, you may be eligible to take a new loan that will be used to settle the old loan and access additional funds. (Excluding credit cards) and access additional funds.

  • The new loan will be booked as a new loan contract at the latest interest rates.

  • Your existing loan must be of the same type (Consumer or Housing Loan) as the loan you wish to Top Up.

  • You should have made at least 30% of the number of monthly installments required for you to complete the term of your loan only ( If you have multiple loans, only those meeting the 30% rule are eligible)

  • You should be up to date with your monthly installments.

  • Your new loan will be subject to Gulf Bank’s Credit Policy and Central Bank of Kuwait Regulations.

  • For Consumer loans, you may borrow up to 25 times your net monthly salary (maximum KD 25,000) subject to your installments being less than 40% of your net monthly income (30 % for pensioners).

  • For Housing loans, you can borrow up to KD 70,000 subject to your installments being less than 40% of your net monthly income (30% for pensioners).

  • Obtain an updated Salary Certificate from your employer, stating the net income.

  • A Valid Civil ID and Passport for expats.

  • Visit your Gulf Bank branch to provide the updated Salary Certificate and complete the application form.

Your Answered Questions

Go To All FAQs
What loan types are available to customers when deciding to borrow?
What is the difference in the purpose of the loan between Consumer and Housing loans?
What is the maximum borrowing amount of a loan?
How often the interest rate on your loan changes?
What is a loan top up (Refinancing)
What is a loan buyout?

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