Education Loan
| Islamic Finance | No |
| Minimum Salary | AED 5,000 |
| Minimum Age | 21 years |
| Maximum Age | N/A years |
| UAE Nationals Eligible | Yes |
| Expatriates Eligible | Yes |
| Salaried Eligible | Yes |
| Self-Employed Eligible | No |
| Salary Transfer Required | Yes |
| Employment Criteria | Employed with a minimum salary of AED 5,000; must provide an offer/admission letter from the educational institution. |
| Minimum Loan Amount | AED 20,000.00 |
| Maximum Loan Amount | AED 300,000.00 |
| Minimum Loan Tenure | 12 months |
| Maximum Loan Tenure | 48 months |
| Flat Interest Rate: | N/A - Fixed monthly instalments available in both conventional and Islamic variants. |
| Reducing Interest Rate: | N/A |
| Processing Fee: | 1.00% - 1% of loan amount (min AED 500, max AED 2500). |
| Early Settlement Fee: | 1.00% - 1% of outstanding loan amount, capped at AED 10,000. |
| Late Payment Fee: | 200.00% - AED 200 per late installment. |
| Insurance Fee: | N/A - Life insurance fee applies and is calculated as 0.01902% x tenure (months) x loan amount. |
Required Documents
Admission/prospectus from the institution, Emirates ID, salary certificate, and bank statements.
Additional Benefits
Tailored repayment schedules for education expenses.
Features:
Designed for financing education both within the UAE and abroad; available in conventional and Islamic variants.
General Notes
Offer subject to meeting eligibility criteria and documentation. Processing within 7 business days.
