Education Finance

Education finance comes in 2 ways conventional or Islamic (Finance). They are offered by Bahrain Development Bank with 4% p.a. profit rate (APR 7.2%) to be used to cover the tuition fees. The minimum facility amount is BHD 3,000 and the maximum facility amount is BHD 20,000 with maximum repayment period of 7 years with a comfortable grace period.

Who can apply:

  • The applicant should be a Bahraini
  • The applicant “Student” should have an acceptance letter from university

Required documents:

  • A copy of Smart Card & details
  • A copy of the passport
  • 6 months bank statement of the person applying for the facility
  • Salary Certificate/ a copy of the last paid salary slip.
  • Copy of latest certificate obtained by the applicant.
  • Copy of transcripts
  • Tuition fees letter and time table schedule from the University
  • No objection certificate from the employer for the applicant to join the academic program (if employed).

In case of applications backed by guarantors:

  • Copy of Smart Card & details
  • Copy of Passport of the Guarantor
  • Salary Certificate and bank account statement for the last 6 months.
  • Guarantor networth statement (in case of unemployed).
  • Financial statements if applicable.
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Last Updated: 01 Apr 2021

Licensed by the Central Bank of Bahrain as a Conventional Retail Bank

Last Updated: 25 Jul 2021

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