Emirates NBD, one of the pivotal banks in the region has initiated Scholar plus Loan, a plan for families looking for financial assistance to extend their university education either in UAE or at Overseas.
In keeping with the bank’s commitment to develop the human capital of UAE and also to make the higher education affordable for its customers, this initiative called scholar plus loan will help funding the parents of potential students to do their higher education at their preferred institution. This credit is available to clients who plan to enroll in part-time courses, even though they have employed, they can use this opportunity to improve their knowledge base and for supporting their career advancement.
Emirates NBD Global Cash Card can be received by the Scholar plus Loan Customers with free of charge who are fully eligible to avail this. This multi-currency prepaid has the facility to load with 15 varies currencies, so that the students can tackle the expense hurdle at their foreign destination. In case of any unpredicted situation, the loan amount will get relinquish and an equivalent sum to the original loan amount will be paid for the beneficiary to make sure the continuation of that particular student education. This can be possible by the feature called double insurance cover. Further, preferential FX rates will be provided to help remit the required funds to the university.
Suvo Sarkar, Senior Executive Vice President & Group Head – Retail Banking and Wealth Management, Emirates NBD divulges that “The initiative of Scholar plus Loan reflects our fidelity and commitment in creating the prepositions which support our customers to attain their dream in a consummate level”. “This program will definitely support the UAE residents and their families in fulfilling their educational dreams in a flexible and convenient manner” suvo added.
Emirates NBD builds a context for the students, correlated with the program to gain worthy work experience via a summer internship with the bank.
The fee invoice from the educational institution must be provided by the prospective borrowers to support their application. AED 300,000 is the maximum loan amount availed under this programme. Customers who currently hold a personal loan with Emirates NBD are also eligible to apply.