Education Loan for Dubai

For your study in Dubai, an education loan may be able to provide up to 1.5 Crores at a rate of interest starting from 8.55% per year. You can obtain loans for Dubai that are both secured and unsecured. 

For higher education in Dubai, you are eligible for a loan of up to 40 Lacs with a 10-year repayment period. Unsecured loans are typically obtained from private banks or NBFCs and require full or partial simple interest payments over the repayment holiday.

Tip: Having a good financial co-applicant can help you get the most out of your unsecured loan. Also, try to aim for the top universities in Dubai as it increases your academic credibility.

• Incred
• Avanse
• Axis bank
• Auxilo 
• IDFC First bank 
• HDFC Credila
• Elite scholars
• ICICI bank

Step 1: Request a callback from our financial officers by visiting our website. 

Step 2: You will get a call from one of our financial officers who will ask for your basic details to analyze your profile and check your eligibility for an unsecured education loan. 

Step 3: After the analysis of your profile the financial officer will provide you with a list of lenders you are eligible to get an unsecured education loan. 

Step 4: Choose a lender from the provided list of lenders, The financial officer will provide you with a checklist of documents. 

Step 5: Upload all the documents mentioned in the checklist on the WMS-secured document portal. 

Step 6: Immediately after you submit the documents your profile will be logged in and the result of your unsecured education loan application will be told to you within 2-6 days. 

Step 7: You will then receive your sanction letter after which you’ll have to sign the loan agreement.

Issues faced by students when approaching the banks directly for an unsecured loan

• Alternative unsecured student loan options are not looked at when a lender is contacted directly.
• There is no comparison of all potential lenders provided to the student.
• Generally, students feel very lost about the entire loan education process when they approach the lenders directly as the process is not explained clearly. 
• Post-sanction help is not provided to the student post- sanction.

These are a few of the benefits you will get when you process your unsecured education loan with us

● Automatic 0.5% reduction in ROI: You instantly receive a 0.5% ROI reduction on your unsecured education loan since WeMakeScholars is an initiative financed and supported by the Ministry of IT, Government of India, under the Digital India scheme.

● Negotiation: In addition to the 0.5% decrease, we can try to further lower the ROI by negotiating a reduction of up to 2%, depending on your profile and the university. In several instances, the interest rate was negotiated down from 14% to 12%.

● Cashback: You will receive a cashback of Rs. 3000 as a token of appreciation for supporting the Digital India initiative after your loan has been disbursed.

● Profile Analysis: You will receive a cashback of Rs. 3000 as a token of appreciation for supporting the Digital India initiative after your loan has been disbursed.

Below provided are the documents required to acquire an unsecured education loan for Seeking higher education in Dubai

By considering your individual profile and your requirements for the loan, we create a tailored document checklist that helps you save time and avoid enrollment process issues or delays.

An unsecured school loan has an interest rate that starts at about 11%, and as is common knowledge, the full simple interest rate is charged throughout the moratorium period for the majority of unsecured loans. In light of these requirements, your EMI payment plan would look something like the one below.

Loan amount: 23,50,000

Rate of Interest: 11.5%

Repayment tenure: 10 Years

Grace period: 6 months 

Our goal is to ensure that the loan disbursement process is as smooth and stress-free as possible so that you can focus on your studies without worrying about financial matters.

You can receive funding of upto 1.5 Crores at an interest rate of 10.25% for your academic expenses by going through secured loans, which are mostly offered by public banks, you don’t have to pay any interest during the moratorium period

• State Bank of India 
• Bank of Baroda 
• Karur Vysya Bank 
• IDFC Bank 
• Axis Bank
• ICICI Bank
• IDFC Bank
• HDFC Credila 
• Incred 
• Avanse 
• Auxilo

Step 1: Start your education loan process by requesting a callback from us.

Step 2: You will shortly receive a call from one of our financial officers who will enquire about your basic details and send you the common application form

Step 3: Based on the details provided by you, the financial officer will analyze your profile and give you a comparison of all the lenders you can get a loan from. 

Step 4: After you pick a lender to process your loan from, you will be given a checklist of documents, according to which you need to submit the documents to the bank branch nearest to you. 

Step 5: Your loan application result will be told to you within 15-20 days. 

Step 6: After which, you need to sign the loan agreement and receive your sanction letter. 

Issues faced by students when approaching the banks directly for a secured loan 

- The average sanction time for an education loan in public banks is around 2 months.
- As most public banks are still not very technologically advanced most of the paperwork has to be done manually. 
- Students end up taking numerous trips around the bank as there is no checklist of documents provided. 
- Public banks usually face difficulties when they have to deal with a multi-city case as they do not have the proper expertise to handle it. 

All the services provided by us at WeMakeScholars are completely free of cost as we are an initiative that is funded by the Ministry of IT under the Digital India scheme.

• Convenient Process: When you apply for a secured education loan through WeMakeScholars, you can finish the entire process from the comfort of your home, from filling out the application form to receiving your letter of sanction.
• Lesser processing time: We shorten the processing period for your student loan from two months to just 20 working days.
  Expertise: No matter how complex the case may seem, with the experience of handling thousands of instances on a daily basis, we are certain to find a solution.
• Multi-city cases: Multi-city cases are those in which the present address and the permanent address are different. These instances are typically turned down by banks. But if it applies to you, don't worry. We have dealt with several issues involving multiple cities.

In order to avail of a secured student loan you need to have all the applicant and co-applicant documents previously mentioned and the following property documents.

1. Title deed of the property 

2. Registered Gift Deed, the sale agreement, or Will

3. The original receipt of registration for the above-mentioned agreement

4. Allotment letter by the municipal corporation or authorized government authority like MHADA, GIDC, HUDA, JDA, CIDCO, DDA, etc 

5. 30 Years' worth of link documents, or past chain or past chain of sale deed establishing title or EC is necessary. (If you’ve owned the property for more than 30 years, then only the previous sale deed is required.)

6. The newest property tax bill and electricity bill with the same address.

7. Plot layout or building plan approved by the municipality.

Each city has its own list of document requirements. To know more about the city-specific documents required for a collateralized loan contact us by requesting a callback from the WMS team.

Considering that the interest rate for secured loans starts at 8.55% and that you are given an option to not pay anything during the moratorium period the following Amortization table has been made. 

Loan amount: 62,50,000

Rate of Interest: 9%

Repayment tenure: 15 years

At WeMakeScholars, our dedication is to offer complete and dependable services to students, and we aim to simplify the loan application process by providing post-sanction assistance.

Generally, an education loan for Dubai covers these expenses  

• Tuition fee
• Caution fee
• Cost of accommodation 
• Library fee
• Laboratory fee
• Miscellaneous expenses 
• Cost of uniform
• Equipment cost

Scholarships for studying in Dubai

Mentioned below are the scholarships you can avail of for studying in Dubai and the coverage provided by the said scholarship.

Education loan for MS in Dubai

Universities in Dubai offer master’s in various disciplines of science and humanities. Trying for a secured education loan for Dubai might be a better option considering that you will get a higher amount with a secured loan than an unsecured loan in the case of a master’s in Dubai.

Education loan for MBA in Dubai

Since you would receive a larger sum with a secured loan than that of an unsecured loan in the instance of an MBA in Dubai is a better option, applying for a secured education loan for Dubai may be a better alternative.

Each bank has a list of colleges and institutions that qualify for certain loan packages. There are several institutions from Dubai on the list. By requesting a callback from WeMakeScholars, you can speak with our financial officers to find out if your university is included in any of these lists.