Education loan to Study in UAE - A Complete Guide
clickHere

Education loan to Study in UAE - A Complete Guide

4 mins read1.7K Views Comment
Talk to Expert Icon BlueTalk to Expert
clickHere
Updated on Sep 29, 2022 18:49 IST

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? 

  • 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.

  • 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.

Score Predictor

Predict your IELTS, TOEFL, and PTE in just 4 steps!

Share 12th Board, Percentage, english score
Get estimated scores or IELTS, TOEFL & PTE


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

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.







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.

RecommendationView All

Explore MS colleges in UAE

B+Shiksha Grade
Abu Dhabi University

Abu Dhabi, UAEPrivate

2 courses
9.76 L - 19.51 L
9 courses
25.85 L - 33.98 L
5 courses
8.27 L - 10.17 L
BITS Pilani, Dubai Campus

Dubai, UAEPrivate

3 courses
7.34 L - 7.34 L
3 courses
0 - 0
7 courses
6.87 L - 9.39 L
1 courses
10.32 L - 10.32 L
C++Shiksha Grade
1 courses
20.23 L - 20.23 L
3 courses
10.54 L - 10.54 L
2 courses
11.36 L - 11.36 L
Is this recommendation relevant?

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)

Related Articles

FAQs

Q. Can I get a study loan in UAE?

A. Yes, international students can apply for an Education loan to study in UAE. The eligibility criteria could differ though. For instance, the maximum age for the finance tenor completion should be 60 years to apply for an education loan at the ADIB for foreign students.

Q. Can I get a 100% education loan?

A. Yes, foreign students can get a 100% education loan in UAE that will cover all the education expenses. However, full coverage may only be provided for payments under a specific limit. Lenders have a margin if the costs go above the limit.

Q. Who is eligible for an education loan?

A. Anyone who wants to study in UAE can apply for a loan. The minimum age of the loan applicant is under 18 years to 35 years. Through entrance tests, students should have secured admission to a higher education course in recognized institutions, Indian or abroad.

Q. What type of education is financed in UAE?

A. Programs offered by the universities in the UAE or abroad Executive programs for working professionals are financed in the UAE. Students can check their eligibility before applying for a loan.

Q. Which are the popular banks for education loan?

A. Punjab National Bank, State Bank of India, UCO Bank, Union Bank of India, Allahabad Bank, etc. are some of the popular Indian banks that offer education loan to students to study in UAE. Apart from these banks, students can also apply for education loan at UAE banks.

Q:   Can Indians apply for BITS Dubai?

A:

Indian students who wish to study at BITS Dubai can apply for admission easily. Applicants have to submit the online application by the deadline for BITS admission. Students must meet the BITS Dubai admission requirements as per the program. Mentioned below are BITS Pilani Dubai admission requirements for International students:

BITS Dubai requirements for first-degree programs:

  • Complete 12th Grade or equivalent with a minimum 60% overall aggregate of marks and a minimum aggregate of 60% in Physics, Mathematics, and Chemistry/ Biology/ Computer Science or any other vocational subjects with at least 50% marks in each subject.
  • Meet the English language proficiency requirements

BITS Dubai requirements for higher degree programs:

  • Complete a bachelor's degree with a minimum aggregate of 60% in relevant disciplines.
  • Candidates will be required to appear and successfully clear the Interview to qualify for higher degree admission
  • Meet the English language proficiency requirements

Q:   Is Manipal Dubai worth it?

A:

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. It is a 5-star rated university as per the Knowledge and Human Development Authority (KHDA) International Higher Education Rating 2022. The university is also ranked 3rd in the Middle East for its MBA programme by Forbes Middle East Magazine. Additionally, it has been ranked among the top 200 universities in Asia. So doing a bachelor's, master's, or any certificate programme at Manipal Academy of Higher Education – Dubai is worth it for international students.

Q:   Why indian students choose to study at University of Wollongong - UAE?

A:

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.

 

Q:   Is getting part time jobs easy while studying at SP Jain School Of Global Management - Dubai Campus?

A:

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.

Q:   What is the cost of studying in BITS Dubai?

A:

The cost of studying in BITS Dubai vary as per the program for International students. BITS Dubai tuition fees varies from INR 7 L and 11 L for first-year. Students also maanage the additional cost to study at BITS Dubai campus. Mentioned below are the tuition fees with additional cost of International studnets:

Course

Tuition Range

Hostel Range

Insurance Range

Miscellaneous Expenses and Fees Range

BE/BTech

INR 6.80 L – 11.29 L

INR 6.80 L

INR 45,360

INR 40,824 – 1.13 L

BSc

INR 6.80 L – 11.29 L

INR 6.80 L

INR 45,360

INR 40,824

MBA/PGDM

INR 6.80 L – 7.25 L

INR 6.80 L

INR 45,360

INR 65,772

MEng

INR 6.80 L – 7.25 L

INR 6.80 L

INR 45,360

INR 65,772

MS

INR 6.80 L – 7.25 L

INR 6.80 L

INR 45,360

INR 65,772

Q:   Which is better, BITS or Manipal Dubai?

A:

According to student reviews on unofficial sources, both BIT Pilani Dubai and Manipal Dubai are the best universities in Dubai for pursuing UG, PG, and certificate courses. But when it comes to courses like engineering, Bits Pilani offers better opportunities to international students as compared to Manipal Dubai. As an international student, choosing Bits Pilani over Manipal will provide top-notch faculty, cutting-edge research opportunities, and a vibrant community of like-minded individuals who are passionate about pushing the boundaries.

Q:   What is the tuition fee for a bachelor's degree at Manipal University Dubai?

A:

Manipal University Dubai offers bachelor's programs in specializations like architecture & design, Engineering, Humanities & social sciences, Information sciences, Life sciences, Management, Media & communication. The tuition fee for a bachelor’s degree at Manipal University Dubai varies according to the program. The tuition fees for some popular bachelor’s programs are given below:

Courses

1st Year Tuition Fees

B / BTech (7 courses)

INR 10 L - 11 L

BBA (1 course)

INR 10 L

B Des (1 course)

INR 8 L

B Sc (2 courses)

INR 11 L

B Com (1 course)

INR 11 L

BBA (1 course)

INR 10 L

BJMC (1 course)

INR 11 L

Q:   How expensive is it to live at University of Wollongong - UAE?

A:

The estimated annual living expenses for overseas students, as per the university's official website, range from $8,000 to $12,000 and include housing, food, entertainment, books, internet usage, and transportation. As per the same sources, the estimated tuition cost for the 2023 academic year is $9,990. Students are also required to pay the Student Services and Amenities Fee (SSAF) and Overseas Student Health Cover (OSHC).

Dubai, where UOW is located, has a generally higher cost of living than other UAE cities. But Wollongong has a fairly affordable cost of living, so students can concentrate on their education rather than their monetary worries. Depending on the region, the approximately weekly rental cost for a two-bedroom flat in Wollongong ranges from $550 to $750.

About the Author
author-image
Written by

Browse universities abroad