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Education Financing

Education Financing

We contribute to building a brighter future for you and your children with Alinma’s education financing service, introduced for the very first time in Saudi Arabia. This program is Shariah-compliant and built around our core values – innovation, respect and transparency.
 

Key Benefits

  • Available for education levels from kindergarten through high school.
  • No administrative fees.
  • Financing period from 12 months up to 60 months .
  • Ability to choose from Alinma’s approved schools list.
  • Available to all nationalities.
  • Transportation, housing and other services also covered.
  • Option for partners to nominate a third party beneficiary as the service recipient.
     

Requirements

  • Valid I.D.
  • Global limit request
  • Letter of acceptance from the educational entity.

 

Global limit Application Requirements

  • Employer must be from the Alinma list of approved employers
  • Open a current account with Alinma Bank
  • Obtain a certified letter from your employer indicating your salary and service period details 
  • Obtain a certified letter from your employer verifying your salary deposit with Alinma Bank (assignment of salary and benefits)
     

Example:
You have 3 children: Sara, Abdullah and Bader,Studying at private schools with total annual schools fees of SAR 36,000. Instead of paying the whole schools fees at once,with the education financing service you can pay this amount in monthly installments up to 12 months without any additional profit margin or any fees.

The following table shows how the monthly installment is calculated:

School Level Monthly installment Annual school fees Profit Margin / other fees
Bader – Primary/Elementary School SAR 1,000 SAR 12,000 Zero
Abdullah –Middle/Intermediate School SAR 1,000 SAR 12,000 Zero
Sara – Secondary (High) School SAR 1,000 SAR 12,000 Zero
TOTAL SAR 3,000 SAR  36,000 Zero

For more information Please call 8001208008*

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