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Education Loan

It takes more than money to write a brighter future for your child

Pay for your child’s school fees and save up to 60% on interest cost.

We’re delighted to introduce our Loan-AsYouGo for the new academic year. Benefit from 4% discount on GEMS Education school fees for the full year.1

Pay for your child's education

Whether you want to pay for education for your child or thinking of studying yourself, turn your plans into reality with an Education Loan. Rates start from 6.74% annual percentage rate. This rate is available to Premier customers working for a listed company with HSBC who transfer their salaries to HSBC.2 & 3

Already an HSBC Customer?

Log on to online banking for the quickest and easiest way to apply.

Why you'll want an HSBC Education Loan

  • Flexible terms

    Pay your loan back over 6 to 48 months

  • Individualized interest rate

    Get an interest rate based on your profile.

  • Adaptable to meet your needs

    Top-up option to accommodate your ever-changing financial needs.2

  • No need for Credit life insurance

    Take out your loan without having to pay for extra insurance.

  • Quick decision

    Get an approval in principle on your loan in 10 minutes if you apply online.2

Are you eligible?

You can apply for an Education Loan if you:

  • are a UAE national or resident
  • are between 21 and 65 years old
  • earn at least AED 7,500 a month3
  • have a current account with HSBC and credit your salary to that account

Things you should know

Representative example

The table shows a typical example of monthly instalments for an HSBC Personal Loan.

Total loan amount Repayment time Monthly instalment4
AED 100,000 48 months AED 2,488

The table shows a typical example of monthly instalments for an HSBC Personal Loan.

Total loan amount AED 100,000
Repayment time 48 months
Monthly instalment4 AED 2,488

You may have to pay penalties if you pay off a loan/financing early.

If you do not meet the repayments/payments on your loan/financing, your account will go into arrears. This may affect your credit rating, which may limit your ability to access financing in the future.

Refinancing your loans/financing may take longer to pay off than your previous loan/financing and may result in paying more in interest/profit.

How to apply

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1Terms and conditions apply.

The 60% saving on interest is reachable when you choose to disburse your loan on 3 tranches in line with the school payment terms.

Discount is offered by GEMS Education and subject to GEMS Education approval and terms and conditions. Any such discounts thereof needs to be reflected in the relevant academic year invoice(s) as issued by GEMS. This loan feature is currently only available for specific GEMS Schools as determined and approved by HSBC.

2Annual Percentage Rate (APR) quoted above is fixed through out the loan tenor, and is inclusive of 1% processing fee assuming a maximum loan tenor of 48 months.

3Final approval is subject to satisfactory documentation, salary transfer, internal policies and credit bureau checks.

4This example is calculated on the basis of an Advance customer applying for a personal loan of AED 100,000 for 48 months at an interest rate of 8.99%. This customer is also working for a company listed with HSBC as an Approved Employer.

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