Saint-Petersburg State University of Engineering and Economics, Dubai Campus, is proud to announce its participation in Abu-Dhabi Commercial Bank’s new project, ADCB Ambition Loan for Education.
ADCB Ambition Loan for Education is an unsecured installment loan offered both to parents wishing to finance their child’s education as well as to working professionals looking at undertake courses to enhance their skills. The payment will be directly made to the University for the entire duration of the courses by ADCB if the customer is eligible. The key advantages of the product are:
No Salary transfer required
Simple documentation & Repayment by PDC’s (post dated cheques)
Repayment up to 60 months.
Equal monthly installments
Loan amounts up to AED 150,000
Criteria
Details
Minimum Income
AED 8 000
Minimum Loan
AED 10 000
Maximum Loan
AED 150 000
Tenor
·up to 60 months tenor for loan amounts more or equal AED 60 0000
·up to 36 months tenor for loan amounts less than AED 60 000
Age criteria
Min: 21 years
Max: 65 years for UAE nationals and 60 years for Expatriates at the time of loan completion
Documentation
Documentation
Salaried
Credit Card Holder
Loan application form
+
+
Copy of valid passport and residence visa
+
+
Latest salary certificate or carbonized pay slips
+
X
Latest credit card statement & copy of credit card front sid
X
+
Bank statements
+
X
One undated security cheque
+
+
Offer letter from ENGECON
+
+
Interest Rates
Category
< AED 14 999
> = AED 15 000
Approved Co’s
12%
10%
Non Approved Co’s
14%
12%
Fees & Charges
Processing fees
1.5% of loan amount subject to a minimum of AED 500
Insurance charges
0.75 % of loan amount
Cheque return or Funds insufficient/ per instance
AED 150
Early Settlement
Through own resources
3% of outstanding loan amount
Loans from ADCB
1 % of outstanding loan amount
Loans through other banks
5% of outstanding loan amount
To find our more, SMS ‘EDUCATION’ to 2626, call 800 2030 or visit www.adcb.com
announce its participation in Abu-Dhabi Commercial Bank’s new project, ADCB Ambition Loan for Education.