Thursday 27 January 2022
 
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Subah Abdullatif Al Zayani

NBB launches education finance programme

MANAMA, 21 days ago

The National Bank of Bahrain (NBB) recently launched its Education Finance Programme, which aims to provide individuals with an array of choices that cover the financial expenses of various academic levels.

The scheme covers expenses from kindergarten up to higher education, including professional certificates, at preferential rates.

The Education Finance Programme will allow customers to experience a seamless and quick approval process with preferential interest rates, and will include a tenor of up to 7 years with no processing fees and no insurance fees.

NBB’s newest product is part of the bank’s ongoing endeavours towards social responsibility, and serves a larger purpose beyond being a simple financing solution. It is designed to pave the way for eligible high-performing students, presenting potential recruitment opportunities that include internship roles at NBB. Moreover, the bank aims to establish value-added partnerships with vocational institutes in the Kingdom to provide customers with unique job experience options.

Subah Abdullatif Al Zayani, Chief Executive Retail Banking at NBB, said: “We are pleased to be launching the Education Finance Programme, which supports parents and individuals who would like to invest in their children or their own educational paths and futures.

“As the national bank of choice, and as part of our social responsibility and sustainability practice, we are committed to providing solutions that encourage education and self-development. Moreover, our initiative contributes to the Kingdom’s Economic Vision 2030 of upscaling the number of educated individuals by offering specially tailored financing schemes to nurture future leaders.”

Ahmed Al Maskati, Head of Retail Products at NBB, said: “The Programme is structured in a way to encourage our customers to pursue higher education. The financing provided may cover up to 100% of the education expenses, with a total financing amount of BD40,000 ($105,400).

“Educational costs are covered by mini financial contracts against the cost of each semester, depending on the customer’s financial eligibility when applying. In addition, Education Finance is offered at a very competitive interest rate with no life insurance fees and no processing fees.”

NBB continues to roll out customer-centric solutions in line with its commitment towards integrating ESG practices in its financing product suite. – TradeArabia News Service




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