• KFH Bank FD Promotion

    Kuwait Finance House (KFH) offers a campaign on three of its products—KFH International Commodity Murabahah (ICM) Deposit-i, KFH Libshara Account-i and KFH Sure Current Account-i. KFH ICM Deposit-i is a term deposit offering fixed profit rates based on Tawarruq and Murabahah principles of the Shariah concept. The bank assures to pay the profit rates upfront.

    KFH Fixed Deposit Promotion Mechanics

    You have to place a minimum amount of RM10,000 in an ICM Deposit-i account to get the benefits of the promotion. The finance house does not have any restrictions on the type of funds, fresh or non-fresh funds, you place. If you place the complete sum in fresh funds, the promotional rates applicable are:

    Deposit Tenure Profit Payment Promotional Rate (% p.a.) Effective Rate (% p.a.)
    15 months + 1 month rollover period Upfront 3.99 4.30
    End of the tenure 8.88
    12 months + 1 month rollover period Upfront 3.90 4.13
    End of the tenure 6.88
    6 month + 1 month rollover period Upfront 3.58 3.91
    End of the tenure 5.88

    If you wish to deposit in non-fresh funds, a different set of promotional rates will be applicable:

    Deposit Tenure Profit Payment Promotional Rate (% p.a.) Effective Rate (% p.a.)
    15 months + 1 month rollover period Upfront 3.99 4.11
    End of the tenure 5.88
    12 months + 1 month rollover period Upfront 3.90 3.98
    End of the tenure 4.88
    6 month + 1 month rollover period Upfront 3.58 3.71
    End of the tenure 4.48

    FD Promotion Start & End Date

    The promotion began on 5 February and ends on 30 April 2018.

    Promotion Terms & Conditions

    The following terms and conditions are applicable to the promotion:

    • The bank specifies that your age must be above 18 years to get the promotional benefits.
    • The bank does not allow rollover of more than a month.

    FAQs

    1. Q. Is the money I place in an ICM Deposit-i covered by PIDM?

      A. Yes. PIDM covers the money you place in an ICM Deposit-i.

    2. Q. Can a foreigner open an ICM Deposit-i account?

      A. Yes. The bank allows foreigners to open the ICM Deposit-i account.

    3. Q. Can I withdraw the money placed in the ICM Deposit-i before maturity?

      A. Usually, the bank recommends its customers not to withdraw the deposit amount before maturity. However, if you insist, you can withdraw the amount placed. But you cannot get the benefits of the promotion.

    4. Q. What does it mean to pay the profit upfront?

      A. Generally, the profit applicable to your deposit account will be paid to you on maturity. In the case of upfront profit payment, the bank calculates the profit payable for the deposit amount and tenure you choose when you open an ICM Deposit-i account. This profit amount will be added to your deposit account instantly.

    5. Q. What is rollover period?

      A. A rollover period is a time span of a few days after the maturity of the current FD tenure. This period is offered by a bank for you to decide if you want to renew the fixed deposit at FD Board rates, transfer the sum to a new FD account elsewhere or to withdraw the deposit amount in your account. You may still get an interest on your money in this rollover period.

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