ADCB Introduces a Pre Approval on Ambition Loan for Education

27 December 2009

Abu Dhabi, 27 December, 2009: In line with the bank's strategy to support and develop the human resource in the UAE; Abu Dhabi Commercial Bank has entered the education loan market in the UAE with the offer of AMBITION LOAN for EDUCATION for working professionals looking to pursue higher education and parents wishing to finance their child's education. ADCB has entered this new market since the domestic higher education in the Arabian Gulf has been identified as a prime driver for economic development.

ADCB's offer "Ambition Loan for Education" facilitates availing exceptional educational opportunities with most internationally recognized and leading business schools and universities as well as leading schools in the UAE and across the world to advance knowledge and learning in different disciplines.

"ADCB is proud to introduce the ADCB Education Loan which has been designed to ensure that finance, or rather the lack of it, does not get in the way of the higher education aspirations of any meritorious student. We constantly endeavor to uphold the educational development in the UAE to embody the Government's plan to build the new generation of students, enabling them to take part in the evolutionary process in the UAE." Mr. Rahul Unny, Vice President, Consumer Banking, ADCB said.

ADCB has introduced a unique feature where a parent or professional seeking for education finance can avail a Pre Approval from the bank. The customer can take advantage of this facility to know his loan eligibility without him / her having already finalized on the Educational Institute which can help to decide on the education institute as per his financial capability.
The Ambition Loan for Education can be obtained by potential customers without the commitment of a salary transfer. The minimum ADCB Education Loan amount offered by ADCB is AED 10,000 and the maximum amount offered is AED 150,000, depending on student or parent eligibility. The loan can be repaid over a period of 6 to 48 months.

The loan is offered for all programs - graduate, post graduate as well as school fees - and finance can be taken for a defined period as well as for a full academic session. Ambition loan for education is also available for courses undertaken outside UAE.