Arab African International Bank – Education Loan (EduInvest)

Requirements

• Education Loan could be given to the student in case he works
• The parents /guardians could receive the loan amount in case the student doesn’t earn a fixed salary
• Minimum age of 21 year-old and a maximum of 65 year-old
• The Loan amount paid directly to the educational entity
• The customer should have an account with AAIB
• Minimum loan amount EGP 15,000 and up to EGP 500,000
• Pay in 12 equal installments yearly to the educational entity
• Pay interest only for the first 3 years

Documents Required

• Valid National ID
• Recent residence utility bill (maximum 3 months)
• Minimum salary transfer period one month only
• Commitment letter to transfer the salary from the employer
• Approved statement of tuition expenses for students

Fees & Charges

• 2% commission fees
• 3% for early full payment
• 2% late payment fee per installment
• 0.0005% every 3 months stamp duty