Emirates NBD Launches Scholar Plus Loan For Higher Education Financing

  • Insurance cover to protect families and ensure continuation of student’s education
  • Summer internships at Emirates NBD for qualifying students

Emirates NBD, one of the leading banks in the region has launched Scholar Plus Loan, a program for families seeking financial assistance for university education, either in the UAE or overseas.

In line with the bank‘s commitment to developing the UAE’s human capital and making higher education more affordable for its customers, the Scholar Plus Loan will enable the parents of prospective students to fund their wards’ higher studies at their institution of choice. The loan will also be available for customers who plan to join part-time courses while remaining employed, to enhance their knowledge base and supporting career advancement.

Scholar Plus Loan customers will be eligible to avail the Emirates NBD GlobalCash Card at no fee. This multi-currency prepaid card can be loaded with 15 different currencies, allowing students to easily manage expenses on arriving at their foreign destination. The loan will feature a double insurance cover to help protect families by which, in case of any unforeseen circumstances, the outstanding loan amount will be waived off and a sum equivalent to the original loan amount will be paid to the nominated beneficiary to ensure continuation of the student’s education. Further, preferential FX rates will be provided to help remit the required funds to the university.

Emirates NBD will also offer students, associated with the program, the opportunity to gain valuable work experience via a summer internship with the bank.

Prospective borrowers will need to provide the fee invoice from the educational institution to support their application. The maximum loan amount that can be availed under the programme is AED 300,000. Customers who currently hold a personal loan with Emirates NBD are also eligible to apply.

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About Emirates NBD

Emirates NBD is a leading banking Group in the region. As at 30th June 2019, total assets were AED 537.8 Billion, (equivalent to approx. USD 146Billion). The Group has a significant retail banking franchise in the UAE and is a key participant in the global digital banking industry, with over 90 per cent of all financial transactions and requests conducted outside of its branches. The bank was declared the Most Innovative Financial Services Organization of the Year at the 2017 BAI Global Innovation Awards.

The bank currently has 233 branches and 1081 ATMs and SDMs in the UAE and overseas and a large social media following, being the only bank in the Middle East ranked among the top 20 in the ‘Power 100 Social Media Rankings’, compiled by The Financial Brand. It is a major player in the UAE corporate and retail banking arena and has strong Islamic Banking, Global Markets & Treasury, Investment Banking, Private Banking, Asset Management and Brokerage operations.

The Group has operations in the UAE, the Kingdom of Saudi Arabia, Egypt, India, Singapore, the United Kingdom and representative offices in China, Indonesia and Turkey.

The Group is an active participant and supporter of the UAE’s main development and community initiatives, in close alignment with the UAE government’s strategies, including financial literacy and advocacy for inclusion of People with Disabilities under its #TogetherLimitless platform. Emirates NBD Group is a Premier Partner and the Official Banking Partner for Expo 2020 Dubai. For more information, please visit: www.emiratesnbd.com

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