Help secure your child’s education
While you take care of your child’s best interest, we’ll take care of your saving on interest. The new HSBC Loan-AsYouGo flexible borrowing solution allows you to split your loan into smaller portions to match school term fee payments.[@loanapproval] We'll even make the payments to your school for you every term while you repay the loan instalments every month.
Why get a Loan-AsYouGo with us?
- Save up to 60% on interest costsSplit your loan into smaller portions and save up to 60% of your interest cost.[@schoolfees]
- Simple, hassle-free paymentsYour loan payments are made directly to the school, in line with your fee schedule.[@gemsloaneligibility]
- Quick and easy to applyOne of our loan advisers will call you back to complete your application.[@callback]
Rate information
| Loan feature | HSBC Loan-AsYouGo | Conventional loan |
|---|---|---|
| Total tuition fee | AED 100,000 | AED 100,000 |
| Number of tranches | 3 (AED 40k, 30k, 30k) | Not applicable |
| Loan term (months) | 10 months | 10 months |
| Total interest payable | AED 1,650 | AED 4,150 |
| Total saving on interest | AED 2,500 | Not applicable |
| Loan feature | Total tuition fee |
|---|---|
| HSBC Loan-AsYouGo | AED 100,000 |
| Conventional loan | AED 100,000 |
| Loan feature | Number of tranches |
| HSBC Loan-AsYouGo | 3 (AED 40k, 30k, 30k) |
| Conventional loan | Not applicable |
| Loan feature | Loan term (months) |
| HSBC Loan-AsYouGo | 10 months |
| Conventional loan | 10 months |
| Loan feature | Total interest payable |
| HSBC Loan-AsYouGo | AED 1,650 |
| Conventional loan | AED 4,150 |
| Loan feature | Total saving on interest |
| HSBC Loan-AsYouGo | AED 2,500 |
| Conventional loan | Not applicable |
This table shows an example of how much you can save on interest on a loan for a total tuition fee of AED 100,000. This is for illustration purposes only. Final figures and pricing will differ based on individual circumstances.
If you use an HSBC Loan-AsYouGo, payments for different terms will be disbursed partially: AED 40,000, AED 30,000 & AED 30,000. In that case the total interest payment will be approximatively AED 1,650.
Alternatively, if you borrow the full amount of AED 100,000 at the start of a school year with a conventional loan, the total interest payable will be approximatively AED 4,150.
This illustration is based on a Premier customer – working for a listed company with HSBC and transferring their salary to HSBC – taking out a personal loan of AED 100,000 for 10 months at a 9.99% annual percentage rate.[@aprloan]
Things to know
Who can apply?
You can apply for a Loan-AsYouGo if you:
- Are a UAE national or resident
- Are aged 21 to 65
- Earn at least AED 7,500 a month[@loanapproval]
- Have or will open an HSBC current account and transfer your salary into it
- Are paying your child's tuition fees with GEMS Education[@gemsloaneligibility]
You may have to pay penalties if you pay off a loan/financing early.
If you do not meet the repayments/payments on your loan/financing, your account will go into arrears. This may affect your credit rating, which may limit your ability to access financing in the future.
Refinancing your loans/financing may take longer to pay off than your previous loan/financing and may result in paying more in interest/profit.
Ready to apply for a Loan-AsYouGo?
To apply for a loan or to find out more, request a callback and speak with a member of our team.
We'll get back to you during working hours, Monday to Friday, 09:00 to 16:30. If you contact us outside these times, we aim to get back to you on the next working day. We may record calls to help improve our service to you.
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