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Rakbank Education Loan in UAE

Rakbank Bank

Education Loan in UAE

Minimum Salary

AED 10K

Flat Rate

4.99%

Loan Amount

AED 300K

Early Settlement Fee

1%

Arrangement Fee

1%

Advantages

  • Free credit card is provided
  • Free prepaid card is provided
minimum salary

AED 10K

Minimum Salary

flat rate

4.99%

Flat Rate

max finance

AED 300K

Loan Amount

early settlement fee

1%

Early Settlement Fee

arrangement fee

1%

Arrangement Fee

Advantages

  • Free credit card is provided
  • Free prepaid card is provided

View details on bank page

Features

  • The maximum repayment period on the loan is 48 months
  • Only salaried individuals are eligible
  • Interest rates starts from 4.99%
  • A minimum salary of AED 10,000 is required
  • Salary transfer is required
  • A maximum loan amount of AED 300,000 is provided
  • 1% of the outstanding loan amount is charged as early settlement fee
  • 1% of the loan amount is charged as processing fee

Benefits

  • Preferential currency exchange rates on remittances to foreign institutions
  • Provides a credit card for the parent and the student can get a supplementary card
  • A dual-currency prepaid card is provided

Frequently Asked Questions

Q. What is the age requirement to get the supplementary card on RAKBank Education Loan?

A. For the supplementary card, the student must be at least 16 years old.

Q. What is the age requirement to get the prepaid card on RAKBank Education Loan?

A. The student must be 18 yrs old to get the prepaid card on RAKBank Education Loan else the card will be issued to the parent.

Q. Are UAE nationals eligible for the RAKBank Education Loan?

A. Yes. UAE nationals and expats are eligible for the RAKBank Education Loan.

Rakbank

Established in 1976, RAKBANK or the National Bank of Ras Al Khaimah (P.J.S.C), is one of the oldest banks in the UAE. As a member of the UAE Banking Federation (UBF), RAKBANK follows the Custom Charter as stipulated by the UBF and tries to encourage best practices in the financial services industry. It works with a vision to provide ‘simply better’ financial solutions to its customers in and around the UAE’ and a Mission to be the leading bank in the UAE by offering best products.

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