Education Loan
Education Loan
Financing different stages of education; school, undergraduate and postgraduate degrees and specialized courses.
Education loans are granted to Egyptians through the following finance schemes:
- Employees with a pledge from their employing company to transfer the monthly salary / installment
- Employees with proof of income certificate
- Self-employed professionals and commercial and industrial business owners
- Pensioners / Pension Beneficiaries (with or without a pledge to transfer pensions)
- Loans guaranteed against savings deposits (Egyptians and foreigners)
General conditions for granting the loan:
- Competitive interest rate
- The debtor must be at least 21 years old
- Loan capped at up to EGP 500,000 (conditions applicable)
- Financing worth up to 100% of the value of tuition
- Loan period of up to 84 months
Required documents:
- Copy of a valid national ID card
- Recent original utility bill at the customer’s residence (gas, electricity, water, telephone)
- Letter documenting tuition fees
For employees:
- A certificate of income is required
- Employer's pledge to transfer the monthly salary / installment (in the case of employer’s pledge)
For self-employed, commercial and industrial business owners:
- Copy of tax card
- Copy of license/permit to practice the profession (for self-employed)
- Recent official extract from the commercial registry
- Bank statement for the previous 6 months or income statement from a public accountant, approved by the Central Bank of Egypt or the Egyptian Society for Accountants and Auditors.
For pensioners:
- Certificate of pension
- Beneficiaries of the pension (in the event of existing beneficiaries)
- Pledge to transfer the monthly pension (in the case of the entity undertakes to transfer pension)
Additional benefits:
- Free life insurance policy throughout the loan period
- The possibility of funding an entire stage of education
*Terms and conditions apply