Education loan to Study in UAE - A Complete Guide
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Studying a higher education abroad is a dream for many international students. The United Arab Emirates (UAE) become a preferred destination to study abroad. Education is cheaper in UAE compared to other countries because of its unmatchable education policies. However, pursuing a full-time course from universities in UAE comes with an excessive load of finances. Some students are not able to arrange their educational expenses to study in UAE. The country is the regional hub of businesses where people acquire a living style known worldwide. The overall cost of studying in the UAE may seem a little overwhelming for international students. Here what we need is an education loan to complete the degree. The question is, how to get an education loan to study in the UAE from India?
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HDFC Credila
HDFC Credila offers education loans to international students who want to study in UAE. Dubai offers a visa on arrival and students get loan before visa. HDFC Credila funds 100% cost of living as the UAE is expensive to live in.
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Emirates NBD
Emirates NBD offers scholar plus education loan to students at a decent interest rate that helps them to fulfill their dreams. Students get a facility to top up their existing education loan and apply for a loan up to AED 300,000.
Note: Studying abroad can be expensive and we do not want a student to miss out on this opportunity due to lack of finances. Students, who wish to study at the top universities in UAE, may apply for education loans provided by leading lenders through Shiksha Study Abroad.
- Types of International Student loans in the UAE
- Education Loan Provides in India to Study in UAE
- Banks in UAE providing Education Loan to International Students
- Eligibility Criteria to get students loan to study in UAE
- Documents required for getting a Student Loan in UAE
- FAQs
Types of International Student loans in the UAE
Loan from Universities
Almost all the universities in UAE have a finance department that offers financial aid to international students. Few of them have connections with banks to provide easy loan to students. Financial aid plans offered by universities not only cover your expenses but also extend to your family as well.
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Loan from Private Banks
Banks offer education loan to students at competitive rates. A personal loan from private bank allows you to spend it on other expenses too such as your rent, your daily traveling expenses, your books, etc. Students need to check the criteria before applying for a personal loan.
Education Loan Provides in India to Study in UAE
| Bank Name |
Loan Amount |
Interest Rate Per Annum |
| State Bank of India |
Up to 1.5 crores |
10.5% |
| Allahabad Bank |
50 lakhs |
7.15% to 10.5% |
| Axis Bank |
40 lakhs or depending on requirements |
Depending on the loan amount |
| HDFC |
Up to 30 lakhs |
14% |
| Bank of Baroda |
1.5 crores |
8.50% to 9.15% |
Note*: The interest rate per annum may change based on government rules.
Also Read
Banks in UAE providing Education Loan to International Students
- Abu Dhabi Commercial Bank (ADCB)
- HSBC
- Emirates NBD
- RAK Bank
- Barclays
- Abu Dhabi Islamic Bank (ADIB)
- Union National Bank (UNB)
- Dubai Islamic Bank
- National Bank of Abu Dhabi
- Sharjah Islamic Bank
Eligibility Criteria to get students loan to study in UAE
International students need to understand a few things before looking for an education loan to study in UAE. The first and most important thing is that it is difficult or impossible for students to get unsecured education loans from private financial institutions because of their high criteria. In this case, students who are willing to study in UAE can reach Government banks for secured overseas education loans. However, these banks have come with their own set of terms and conditions.
- Students must have an excellent academic profile. Having backlogs in an academic profile will cancel education loan applications.
- Students with strong financial backgrounds are named as co-applicants for an education loan for a Master’s study.
- Students must have high collateral or at least equal to their actual education loan requirements for a Master's education loan.
Documents required for getting a Student Loan in UAE
- A copy of a valid passport.
- Valid residence visa.
- Student or Parent bank account statement for the last three to six months
- A valid copy of the University ID card.
- Salary certificate in original
- Trade license (for self-employed individuals)
- A security cheque with 120% of the loan amount (if asked by the bank)
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FAQs
Q. Can I get a study loan in UAE?
Q. Can I get a 100% education loan?
Q. Who is eligible for an education loan?
Q. What type of education is financed in UAE?
Q. Which are the popular banks for education loan?
Indian students prefer attend the University of Wollongong (UOW) in Dubai for a number of reasons -
1) Ranking: UOW consistently ranks among the top 200 universities in the world.
2) Career prospects: Within six months of graduation, 84% of UOW graduates find good job opportunities.
3) International Accreditation: The CAA & KHDA have accredited and recognised all degrees from UOW on a global scale.
4) Global ties: UOW connects students and graduates with companies throughout the world through its presence in Malaysia, Singapore, Hong Kong, and Dubai.
5) Business-friendly atmosphere: The United Arab Emirates is a popular destination for Indian and foreign investors.
6) Scholarships and financial aid: UOWD supports students with financial aid scholarships so that students who genuinely need extra financial help, can have their education expenses covered.
Part-time jobs for students at the SP Jain School of Global Management's Dubai campus are not allowed for foreign students in Dubai. However, the school encourages students to do internships, and the Singapore government offers special permission for foreign students at certain colleges, including SP Jain, to work up to 40 hours a week during breaks. Additionally, the school provides opportunities for academic and non-academic positions at its campuses in Dubai, Mumbai, Singapore, and Sydney. Therefore, while part-time jobs for students in Dubai are restricted, there are other opportunities available at the school.
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Manipal Academy of Higher Education (MAHE) - Dubai Campus is one of the best universities in Dubai which is famous for its high-quality education and has received several accolades. The university is also ranked 3rd in the Middle East for its MBA programme by Forbes Middle East Magazine.