The Central Bank of Kuwait has updated the maximum agreed interest rates on lending transactions in dinar, after raising the discount rates in September 21 for the sixth time during 2022.
The Central Bank indicated that the interest on consumer and housing loans has become 6 percent, as the banks’ margin is 3 percent, in addition to the discount rate of 3 percent, reports a local Arabic daily.
The banking sources explained that the interest of commercial lending transactions and other forms of lending with a period not exceeding one year has become 5.5 percent, as the margin is 2.5 percent in addition to the discount rate of 3 percent.
The sources pointed out that the interest of commercial lending transactions and other forms of lending with a period of more than one year has become 7 percent, as the margin is 4 percent, to which is added the discount rate of 3 percent.
