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Frequently Asked Questions

Education Loans

To apply for this product you will need to submit the below:

  • The offer / admission from the educational institution for the amount required for the fees
  • Personal Loan application form duly signed by the applicant along with EID copy, passport copies with valid visa page
  • Standard income documents such as salary certificate or pay slip accepted for personal loan
  • Security cheque issued from your salary account
  • Any other document as mandated from time to time

Education Loan is a salary transfer personal loan offered to salaried parents to provide financial support to fund for their child’s education at their preferred institution in UAE or abroad.

Applicant should be a salaried parent resident in UAE employed with salary >= AED 10,000.

Yes, Salary transfer to RAKBANK is mandatory to avail the Education Loan. 

Maximum Education loan amount is AED 300,000

Repayment of the loan should be done via your salary account with RAKBANK

Yes you can, an early settlement fee is applicable as per the Bank’s. Click here for more details.

Maximum repayment period for the loan is up to 48 months.

 Maximum 65 years at the time of loan maturity.