Already had your salary cut, been put on unpaid leave or lost the bulk of your regular income from business? Or dreading you might face these consequences sooner or later?
Here’s something to ease your worries a bit – UAE’s banks, and now even its schools, are stepping up to support parents. Here’s how…
Banks announce interest-free installment plans for school fees
Various banks across the UAE are now offering interest-free installment plans for all school fee payments, for up to six months, at zero processing fees. Here are some initiatives that stand out…
ADIB – Provides the option of spreading school fee payments over a 12-month tenure, through free-of-charge installment plans. Alternatively, you can receive 5 per cent cash back when paying school fees with any ADIB covered card.
Check out ADIB Value+ Card to avail this offer.
Standard Chartered – Provides monthly installments at zero per cent interest and zero processing fees. This applies to school fees, hospital fees, utility bill payments and grocery purchases. Transactions must be over AED 1,000, and made from 1st April to 30th June to qualify.
Check out Standard Chartered Platinum Credit Card to avail this offer.
HSBC – Offers its credit card customers the six-month interest-free installment plan on school fees, with processing fees waived. Additionally, the bank offer to temporarily increase the credit limit for eligible credit cardholders.
Check out HSBC Cashback Credit Card to avail this offer.
Mashreq – Introduces the service charge-free and interest-free installment plan on school fee payments and grocery purchases, for a six month tenure. To further support new credit card customers, Mashreq is waiving interest charges for all retail purchases for the first six months.
Check out Mashreq Platinum Elite Credit Card to avail this offer.
ADCB – Announces 3-month and 6-month payment plans at zero interest and zero processing fee for school fees and utility bills. To ease the financial stress on customers, the bank has also reduced late payment fees on its credit cards by 50 per cent.
Check out the ADCB TouchPoints Platinum Credit Card to avail this offer.