Weyay Loans
Kuwait's first fully digital loans
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• Not currently
• For medical cases only
• You are eligible for a new amortization schedule once every 5 years.
• Yes, but the loan monthly installment can’t exceed 30% of their net monthly salary.
o You don’t need it but you can request it from a solution center agent.
• No Weyay bank does not buy loans.
• Through the home page (Banner or All Products section)
• Confirm you meet the criteria
• Check financial commitments
• Input Salary Details
• Select loan option and type, amount, insurance, and all other details.
• Upload documents
• Confirm and Submit loan
• After signing the draft contract, you’ll be able to sign the final contract within 48 hours.
• After signing the final contract, the funds will be deposited within 24-48 hours
• As much as you would like as long as your total monthly installment does not exceed 40% of your monthly salary.
• Yes, your salary needs to be with Weyay, but if your employment support is not transferred, it will affect the loan amount you can apply for.
• The loan won’t be affected unless a new amortization schedule has been provided, and the interest is updated. The interest rate can be updated once every 5 years throughout the loan lifecycle
• Yes, before signing the final contract, the salary needs to be with Weyay Bank.
• Not possible
• Your loan amount will be directly deposited into your primary Weyay account.
• Your settlement amount is debited from your primary Weyay account.
• The loan tenure is not fixed, once you pay off your loan partially or fully it will decrease your loan tenure. You can pay off your loan through the loan dashboard.
• To apply for a loan, you should be:
–Kuwaiti
–Above the age of 21
–Below the age of 70 by the end of the loan period
–Salary is with Weyay
–Their current monthly debt does not exceed 40% of their net salary.
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• The required documents that you can upload through the app:
–Civil ID (front + back)
–Salary Certificate
–Salary Continuation
–Manpower Allowance Certificate (private only)
–Pension Deduction Certificate (private only)
–Authorized Signatory (private only)
• It’s your total monthly salary without PIFFS deduction and any other monthly commitments.
• You can’t be late for your installation payment, once you’re late to your installment payment you will start accruing daily interest overdue amount towards your loan.
• Digital Signature is the third level of authentication Kuwait Mobile ID (KMID) app. It allows you to sign legal papers digitally.
• To apply, you need to visit a KMID kiosk and manually verify.
• Minimum is 1,000 KD for housing and personal loans
• Maximum is 70,000 KD – for housing
• Maximum is 25,000 KD – for personal
• 450 KD minimum salary
• Kuwaiti Only
• Weyay Bank offers two types of loans:
–Personal Loan
–Housing Loan
o Yes, there will be discounted interest when you close off the principal amount of the loan.
• Yes, a RO (relationship officer) will contact you if your details are missing or documents are incorrect.
• Yes
• No, they will be the same withdrawal limits