ADCB Education Finance

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Education Finance

Minimum Salary

AED 8K

Flat Rate

5.51%

Reducing Rate

10%

Loan Amount

AED 250K

Early Settlement Fee

1%

Arrangement Fee

1%

AED 8K

Minimum Salary

5.51%

Flat Rate

10%

Reducing Rate

AED 250K

Loan Amount

1%

Early Settlement Fee

1%

Arrangement Fee

Features

  • Required to submit bank statement for last 6 months
  • Only students can take this finance
  • The loan is provided for a interest rate of 10%
  • Minimum salary of AED 8,000 is required
  • The reduction rate and the flat rate is 10% and 5.51%. This denotes that the computation done was a division of the reduction rate by 1.814
  • It is not mandatory to transfer your salary. However, you get a lower finance amount if salary is not transferred to the bank
  • Finance up to AED 250,000
  • Early settlement fee is 1% of the finance amount
  • 0.75% of the loam amount is Takaful fee
  • Arrangement fee is 1% of loan amount

Benefits

  • Primarily designed with high finance amounts for education loan
  • For every AED 1000 of your insurance amount can earn ADCB TouchPoints
  • This finance is available for both UAE and Abroad based institutes
  • Documentation is simple
  • Takaful Insurance will be provided along with this scheme

Frequently Asked Questions

Q. Who can avail ADCB education loan?

A. ADCB education loan is available for students who want to pursue higher studies.

Q. What all costs are covered under ADCB education loan ?

A. Yes, ADCB education finance covers fees for tuition fee, hostel fee and examination fee.

Q. Does ADCB provides education loan for abroad based institutes?

A. Yes, ADCB provides education loan for both UAE and Abroad based institutes.

Q. Do I need a guarantor to apply for education loan?

A. Yes, you must have a guarantor to apply for education loan in ADCB. In case you are unable to repay the loan amount, the guarantor is responsible for paying it back.

Q. What are the documents required to apply for ADCB education loan?

A. The documents that are required for ADCB education loan are:
1. Course admission proof
2. Copy of letter confirming scholarship
3. 2 passport size photographs
4. Statement of Bank account for the past 6 months
5. Borrower’s statement of assets and liabilities
6. Copy of Emirates ID and proof of residence
7. For school and graduate studies you need to submit mark sheet of the qualifying examination

ADCB

Abu Dhabi Commercial Bank (ADCB), features in the Forbes list of top 1000 biggest public companies. It provides retail, commercial, Islamic banking and other financial services to people. Founded in 1985 and headquartered in Abu Dhabi, UAE, the bank operates on five strategic pillars:

  • UAE-centric approach with controlled internationalization
  • Sustainability through growth of liabilities
  • Culture of efficiency and service excellence
  • Follow a pre-defined risk strategy
  • Focuses on staff

ADCB offers three categories of services:

  • Aspire
  • Privilege Club
  • Excellency

The services and charges vary depending on the category in which you choose to bank with them.