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HSBC Loan-AsYouGo

It takes more than money to secure your child’s education.

Pay for your child’s GEMS Education school fees with HSBC Loan-AsYouGo

It takes more than money to secure your child’s education. But when it comes to money, we’ve got you covered. To pay their school fees each term, you might borrow a lump sum at the beginning of the school year. And you would have had to pay interest for the entire amount all that time as well. But not anymore.

 

While you take care of your child’s best interest, we’ll take care of your saving on interest. Introducing the new HSBC Loan-AsYouGo, a flexible borrowing solution that allows you to split your loan into smaller portions to match school term fee payments2. We'll even make the payments to your school for you every term while you re-pay the loan instalments every month. It's the smart choice.

Are you interested?

If you are a new or an existing HSBC customer, with kids enrolled to GEMS schools1, request a call back and we’ll help you with your application

Have us call you Have us call you

Why you'll want an HSBC Loan-AsYouGo

  • Save up to 60% on interest cost
    By splitting your loan into smaller portions, you’ll save up to 60% of your interest cost4
  • Quick and easy to apply
    Have one of our advisers call you and complete your application5
  • Simple, hassle-free payments
    Payments are made directly to the school in line with their fee schedule1

Are you eligible?

You can apply for a HSBC Loan-AsYouGo if you:

  • are a UAE national or resident
  • are between 21 and 65 years old
  • earn at least AED 7,500 a month2
  • have a current account with HSBC and credit your salary to that account
  • are looking to pay your child’s tuition fees with GEMS Education1

Things you should know

Representative example

The following is an example of how much you can save on interest for a total tuition fee of AED 100,000. This is for illustration purposes only. Final figures and pricing will differ based on individual circumstances.

 

If you use a HSBC Loan-AsYouGo, payments for different terms will be disbursed partially: AED 40,000, AED 30,000 & AED 30,000. In that case the total interest payment will be approximatively AED 1,650.

 

However if you borrow the full amount of AED 100,000 at the start of a school year with a conventional loan, the total interest payable will be approximatively AED 4,150. 
  HSBC Loan-AsYouGo
 Conventional Loan

Total Tuition fee

AED 100,000

AED 100,000

Number of tranches

 3 (AED 40k, 30k, 30k)

Not applicable

Repayment term

10 months

10 months

Total interest payable

AED 1,650

AED 4,150

Total saving on interest

AED 2,500

 Not applicable

The following is an example of how much you can save on interest for a total tuition fee of AED 100,000. This is for illustration purposes only. Final figures and pricing will differ based on individual circumstances.

 

If you use a HSBC Loan-AsYouGo, payments for different terms will be disbursed partially: AED 40,000, AED 30,000 & AED 30,000. In that case the total interest payment will be approximatively AED 1,650.

 

However if you borrow the full amount of AED 100,000 at the start of a school year with a conventional loan, the total interest payable will be approximatively AED 4,150. 
 

Total Tuition fee
HSBC Loan-AsYouGo

AED 100,000
Conventional Loan

AED 100,000
 

Number of tranches
HSBC Loan-AsYouGo
 3 (AED 40k, 30k, 30k)
Conventional Loan

Not applicable
 

Repayment term
HSBC Loan-AsYouGo

10 months
Conventional Loan

10 months
 

Total interest payable
HSBC Loan-AsYouGo

AED 1,650
Conventional Loan

AED 4,150
 

Total saving on interest
HSBC Loan-AsYouGo

AED 2,500
Conventional Loan Not applicable

This illustration is based on a Premier customer – working for a listed company with HSBC and transferring their salary to HSBC – taking out a personal loan of AED 100,000 for 10 months at a 9.99% annual percentage rate. Annual Percentage Rate quoted is based on reducing rate which is fixed throughout the loan tenor, and is inclusive of 1% arrangement fee amortized over the maximum loan tenor of 12 months. Interest is calculated on the basis of a 365 day calendar year and accrues daily. We apply the interest rate to your Loan balance as it reduces each month (i.e. as you pay each scheduled instalment).

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

Request a call back online and we'll help you with your application. Or send us an SMS by texting ASUGOLOAN to 6269

Notes

1This loan feature is currently only available for specific GEMS Schools as determined and approved by HSBC.

2Final approval is subject to satisfactory documentation, salary transfer, internal policies and credit bureau checks. 

3Discount 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..

4The 60% saving on interest is reachable when you choose to disburse your loan on 3 tranches in line with the school payment terms.

5Our Personal Loan team is available from Monday to Friday, 9:00 to 16:30. If your request is submitted outside of these times or during a bank holiday, we will aim to call you back the next working day. Please note that calls may be recorded for quality and training purposes.

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