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Thank you for providing your details.Ajman Bank Education Finance for UAE Nationals (STL)
Education Finance for UAE Nationals (STL)
Features
- Required to submit bank account details for last 3 months
- Length of service should be confirmed or should have worked 6 months before applying for this scheme
- Finance repayment period is up to 48 months
- Quotation of the required services addressed to Ajman Bank
- The rates applicable depend on salary
- Minimum age of 21 years is required
- Only UAE Nationals can apply for this scheme
- The loan is provided for a interest rate of 5.75%
- Minimum salary of AED 8,000 is required
- The reduction rate and the flat rate is 5.75% and 3.16%. 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 750,000
- The early settlement fee is 1% of the outstanding amount to date
- Arrangement fee is 1% of loan amount
Benefits
- Processing is quick
- Simple documentation
- You get free pre-approved credit card with lifestyle benefits
- Repaying period of up to 4 years
- Minimum salary requirement is low
- Takaful is offered free of cost
Frequently Asked Questions
⭐ Is there any need to provide a co-applicant for Ajman bank education loan?
A. Yes, to apply for full-time course loan you need to provide a co-applicant who can be your spouse, family member or guardian.
⭐ What all expenses are included in Ajman education finance?
A. Ajman education finance includes expenses like:
1. Accommodation fees
2. Travelling expenses
3. Books and computer fees
4. 100% college tuition fee
⭐ How is the education loan disbursed? Is it disbursed in favour of the university or the borrower?
A. The tuition and hostel fee are disbursed directly to the university and rest of the fees like uniform and travel expenses will disburse in favour of the applicant.
⭐ Can I request changes to my payment plan?
A. Yes, you can by dropping Ajman bank a mail on their official website. The bank will take 48 hours to update your payment plan.
⭐ What are the extra benefits that we can get from the given finance?
A. You get pre-approved credit card with lifestyle benefits along with the given finance.
Ajman
Ajman Bank, launched in 2009 is a young, agile Islamic commercial bank that is built on the values of trust, integrity, and transparency. The Emirate's government owns 25% in the bank which is again a strong support. Their way of measuring excellence is based on how efficiently you think they respond to your financial needs. They have brought the human touch back to banking by listening to you.
Ajman Bank Personal Finance is based on the Islamic financing structure of Murabaha, a commercial transaction which involves the buy and sale of goods that has been promised to be purchased by an ultimate buyer with an added profit margin.
Get in touch with Ajman Bank Customer Care