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ADIB Education Finance for UAE Nationals
- Required to submit bank account details for last 3 months
- Minimum age of 21 years is required
- Length of service for UAE Nationals should be 3 months and for Expats should be 6 month before applying for this scheme
- Finance repayment period is upto 48 months
- Only UAE Nationals can apply for this
- Need to provide quotation from School / University addressed to ADIB (As per ADIB's format)
- The loan is provided for a interest rate of 6.75%
- Minimum salary of AED 8,000 is required
- The reduction rate and the flat rate is 6.75% and 3.72%. This denotes that the computation done was a division of the reduction rate by 1.814
- It is a requirement to transfer your salary to apply
- Finance up to AED 250,000
- The early settlement fee is 1% of the outstanding amount to date
- Takaful cover is 1.25% of the finance amount.
- Arrangement fee is 1% of loan amount
- First installment payment grace period up to 3 months
- ADIB Education finance covers books fees, transportation, library fees and more
- High finance amount
- ADIB VISA Cashback Card will be provided free for the first year
Frequently Asked Questions
Q. Is quotation from University an important document to be submitted to apply for this finance ?
A. Yes, quotation from University addressed to ADIB is a necessary document to apply for this finance.
Q. Who can apply for an ADIB education finance?
A. The applicant must be aged 21 and above to apply for ADIB education finance.
Q. Once my ADIB education loan is approved, when will it get disbursed?
A. Once your education loan is approved it'll get disbursed within 30 days of applying.
Q. What all expenses are covered under ADIB education finance?
A. ADIB Education finance not only covers tuition fees, it also covers transportation, library, computer and security deposit fees.
Q. Do we need to provide any security to apply for ADIB education finance?
A. No, you need not provide any collateral or security to apply for ADIB education loan.
Q. My University is not on the bank list, can I still get ADIB education loan?
A. Unfortunately if your University name is not there on the bank list then ADIB can provide education loan to you.