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 only 5.99% per annum.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.
No need for Credit life insurance
Take out your loan without having to pay for extra insurance.
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
| Total loan amount | Repayment time | Monthly instalment4 |
|---|---|---|
| AED 100,000 | 48 months | AED 2,488 |
| Total loan amount | AED 100,000 |
|---|---|
| Repayment time | 48 months |
| Monthly instalment4 | AED 2,488 |
How to apply
Online
Already an HSBC Customer?
Log on to online banking for the quickest and easiest way to apply.
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Notes
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.
2Rate based on reducing balance.
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.