Profit rate starting from

RAKBANK offers Sharia-compliant education finance. Invest in your future with our personalized financing options. Know the eligibility, benefits at RAKislamic.


Apply for Education Finance | RAKislamic

Education Finance

<ul>
<li style="font-weight: 400;" aria-level="1">The Bank may amend the features, fees, charges, terms and conditions of the Finance with prior notice of 60 days to you.</li>
<li style="font-weight: 400;" aria-level="1">The Bank may amend the profit rates for the Finance with 30 days&rsquo; notice to you in advance.</li>
</ul>

Key Terms and Conditions

You need to:
<ul>
<li style="font-weight: 400;" aria-level="1">Pay all instalments and other amounts due on the due dates without delay.</li>
<li style="font-weight: 400;" aria-level="1">Review this document and all other terms &amp; conditions set out in the application form in detail.</li>
<li style="font-weight: 400;" aria-level="1">Regularly check our website (www.rakbank.ae) for updates.</li>
<li style="font-weight: 400;" aria-level="1">Notify the Bank in writing if there is a change in your employment or income details, contact details, residential status, identification details, financial details or any other material information as declared in the application form.</li>
<li style="font-weight: 400;" aria-level="1">Notify the Bank in writing if you wish to prepay your Finance prior to its maturity.</li>
</ul>

Customer Obligations 

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<ul>
<li style="font-weight: 400;" aria-level="1">Minimum salary: AED 5,000 or more / month</li>
<li style="font-weight: 400;" aria-level="1">Employment confirmation in current role</li>
<li style="font-weight: 400;" aria-level="1">Identification documents such as passport, Emirates ID and visa copy&nbsp;</li>
<li style="font-weight: 400;" aria-level="1">Proof of income such as: salary certificate or pay slips, salary transfer letter (wherever applicable)&nbsp;</li>
<li style="font-weight: 400;" aria-level="1">Letter from the educational institute mentioning the fee amount</li>
</ul>

Eductional Finance - Minimum Salary

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Educational Finance Terms and Conditions Notification

Terms and Conditions

Islamic Educational Loan calculator

Note, installment amount is divided by payment and profit rate. Towards the beginning of your educational finance, the majority of the payment is profit.

If your child is 15 years of age or older

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Our Supplementary Credit Cards can help you manage your family's budget while providing them with financial security and peace of mind.

Credit cards for you or them

Profit rates starting from

Step into your dream home with RAKBANK's Amal Home Finance. Check for advantages, key terms and conditions from RAKislamic. Get your home loan solutions.


RAKBANK Amal Home Finance in UAE | RAKislamic

Home Finance

The easiest way to move into your dream home

Profit rates starting from 4.99% fixed rate p.a.

Competitive profit rates starting from 4.99%

Use our branch and ATM machine locator to find the nearest RAKBANK facility to you within the Middle East, in just a few clicks. Timings are available too.


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Branches & ATMs

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With Education Finance, you can choose from flexible tenures of up to 48 months – letting you tailor your payments according to your own needs and budget. So, you can borrow money from us at a low profit rate and turn your child’s learning dreams into reality. 

Flexible finance tenures

Educational Finance - Benefits - Special Offer for UAE National Customers

Special offer for UAE Nationals 

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Educational Finance - Eligibility

Eligibility

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Our competitive profit rates mean you'll pay less over the life of your finance. The rates start as low as 4.99% and with no hidden fees.

Competitive profit rates

Key Fact Statement

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High finance amounts up to AED 300,000

Eligibility  

Start thinking about the future, today

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AED 50,000-above

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<ul>
<li style="font-weight: 400;" aria-level="1">If you pay off the Finance prior to the due date, you will pay prepayment charges at the rates described in the Service &amp; Price Guide.&nbsp;</li>
<li style="font-weight: 400;" aria-level="1">If you are late in payment or fail to make a payment on the due date, you will pay default profit at the rates described in the Service &amp; Price Guide.</li>
<li style="font-weight: 400;" aria-level="1">If you fail to make a payment or otherwise breach the Finance terms, this will be a default and the Bank will be entitled, among other things, to:</li>
</ul>
<ul style="list-style-type: circle;">
<li>(a) cancel the Finance and demand full payment immediately;</li>
<li>(b) report the default to the appropriate regulatory authorities&nbsp; and credit rating agencies, which will affect your credit rating;</li>
<li>(c) bring legal proceedings against you.</li>
</ul>

Warnings

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RAKislamic Education Finance comes with a maximum finance amount of up to AED 300,000. 

Get access to a sum of money that will cover tuition fees, school supplies, hostel accommodation and much more. 

Start the semester with confidence knowing that the funds are readily available in case of emergency expenses or any other academic needs.

High finance amounts

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Looking to switch your personal finance with another bank in UAE? Easily apply for personal finance with RAKislamic and get the special offers in UAE.


Apply for Amal Personal Finance in UAE | RAKislamic

Personal Finance (Salary Transfer)

Personal Finance

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Offers & Promotions

Check out our limited offers

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AED 5,000-19,999

AED 10,000-14,999

AED 20,000-49,999

<ul>
<li>Only 2 deferrals are allowed in a year one month at a time subject to minimum 6 instalments repaid since the finance or last deferral was availed.</li>
<li>Instalment deferral cannot be given if payments are irregular, or if there are 4 cheques / Direct Debit System (DDS) returns in the last 12 months, or if the request does not meet the Bank&rsquo;s internal risk policy requirements.</li>
</ul>

Risks and Limitations

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Finance Features

Imagine never having to worry about how you will cover your child's education expenses ever again. With our Education Finance, you can rest assured. We know that as a parent, you want the best for your child. That's why we've designed the perfect finance for any student &ndash; whether they are studying within the UAE or abroad.

Financial support for your child’s education

Finance credited directly to the school / university bank account

Finance credited directly to the school/university bank account

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Benefits

Benefit from our limited-time offer for a UAE National Personal Finance with profit rates starting from 4.99% reducing rate p.a. and a deferral period of up to 120 days on your first EMI.
The offer includes flexible payment periods of up to 60 months for Ministry of Defence employees and 48 months for other customers.

Educational Finance - Benefits - Benefit Card

AED 30,000 & above

Not sure about something? Check our frequently asked questions to find what you’re looking for.

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FAQs

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Finance tenure up to 48 months

Finance tenor up to 48 months

Education Finance - How much will my finance cost?

How much will my finance cost?

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Educational Loan Finance- We’re here to help

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Discover the RAKBANK App and enjoy cutting-edge Digital Banking services at your fingertips. Seamlessly manage your accounts, conduct secure transactions, and enjoy a range of innovative features – all in one user-friendly platform.

Finance Features

Financial support for your child’s education

How much will my finance cost?

How to use this calculator

Offers & Promotions

Check out our limited offers

Special offer for UAE Nationals

Eligibility

Start thinking about the future, today

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