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ADIB Education Finance for Expats
- Required to submit bank account details for last 3 months
- Minimum age of 21 years is required
- Length of service should be confirmed or should have worked 6 months before applying for this scheme
- Finance repayment period is upto 48 months
- Required to submit quotation from School / University addressed to ADIB (As per ADIB's format)
- The loan is provided for a interest rate of 6.99%
- Minimum salary of AED 8,000 is required
- The reduction rate and the flat rate is 6.99% and 3.85%. This denotes that the computation done was a division of the reduction rate by 1.815
- It is a requirement to transfer your salary to apply
- Finance upto AED 250,000
- The early settlement fee is 1% of the outstanding amount to date
- Takaful is optional
- Arrangement fee is 1% of loan amount
- Provides financing of up to AED 250,000
- Repayment period is up to 48 months
- Free postponement option
- Free pre-approved ADIB VISA Cashback Card for the first year
- ADIB Education finance covers books fees, transportation, library fees and more
Frequently Asked Questions
Q. What all expenses does ADIB education finance cover?
A. ADIB education finance covers the following expenses:
1. Exam/ Lab/ Library fees
3. Purchase of computer
4. Books/ Uniforms
5. Travel expenses
6. Caution deposit
Q. How can I save for my child? Do I need to visit the branch?
A. It is not compulsory to visit the branch every time you want to save for your child.You can transfer money through the internet and mobile app.
Q. What is the mode of repayment for ADIB education finance?
A. You can repay ADIB education loan through ACH or post-dated cheques.
Q. For what all foreign courses is ADIB education finance provided?
A. ADIB education finance is provided on the following courses:
1. Engineering course
2. Medical course
3. Management course
6. Hotel and Hospitality
Q. How will the student get to know that ADIB has approved or rejected their loan?
A. ADIB will communicate the sanction of the loan in writing. If the loan is not approved, ADIB will record the reason of rejection of loan application.