Stanchart customers receive up to 7 million Ksh loans for university fees

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Stanchart customers receive up to 7 million Ksh loans for university fees

By Soko Directory Team / Published on July 22, 2021 | 2:56 pm

IMPORTANT POINTS

Uniserv has over 300 global university partners in Great Britain, the USA, Canada, South Africa, Australia, Dubai, India, Turkey, Cyprus, Switzerland, the Netherlands, Malaysia, China, Slovenia, Spain, Germany, Hungary and the United Arab Emirates.

Standard Chartered Bank customers can apply for a personal installment loan of up to 7 million shillings to finance their tuition fees, and issue their children with additional credit cards to cover the living expenses of their children studying abroad.

This is after Standard Chartered Bank entered into a partnership with Uniserv Education Limited where Uniserv will offer a range of solutions including college search, application services, visa application process, advice on Covid-19 requirements and orientation services for the banks’ customers.

Uniserv has over 300 global university partners in Great Britain, the USA, Canada, South Africa, Australia, Dubai, India, Turkey, Cyprus, Switzerland, the Netherlands, Malaysia, China, Slovenia, Spain, Germany, Hungary and the United Arab Emirates.

This rich pool of educational partners ensures that Standard Chartered Banks customers have a wide range of tertiary educational opportunities at their disposal.

Rahim Kassam, Head of Operations at Uniserv Education, said: “Uniserv commends Standard Chartered Bank for its commitment to jointly developing innovative solutions through partnerships like this one to solve customer needs on a financial and non-financial level.”

“For over 16 years we have been helping parents and students to find suitable educational opportunities at renowned international universities. Therefore, we fully understand the complexity involved in finding and posting young adults to universities abroad. Not only is the process complicated for the student, but it can also be very stressful for parents who want the best for their children.

The outbreak of the COVID-19 pandemic is further exacerbating this process and now more than ever parents and students need guidance on how to cope with the new regulations when sending their children abroad, ”added Rahim.

Paul Njoki, Head of Wealth Management at Standard Chartered Kenya and EA, said, “Through our research and listening to our clients, we have found that identifying and accessing credible international universities is a complex process for both students and their parents. The process becomes even more stressful when parents and their children go through the visa application process, find accommodation, and learn about the immediate demands students face within the first three months of settling in a new facility away from their familiar surroundings and family Relationships must be left to their own devices.

As universities around the world reopen their doors to resume regular on campus and virtual programs as needed, we understand that parents need more guidance today than in the past. Our full range of solutions, financial and non-financial, will help them secure their children’s education. “

Standard Chartered Bank will also provide financial advice and solutions to help parents meet the cost of international education. With the bank credit card solution, parents can offer up to four additional cards that are linked to an anchor account. This means that parents who send their children to school can apply for an additional card that the child can use to pay during the absence. At the end of the day, financial follow-up is made easier for parents as the anchor card holder receives notifications from the bank about their child’s expenses on the additional card abroad.

One of the biggest challenges parents face when paying tuition fees is considering currency exchange. Customers of Standard Chartered Bank can negotiate a fixed price with the bank today and set up the agreed price in the SCB mobile app. This eliminates the inconvenience of having to call the bank or come to the branch to negotiate exchange rates every time you want to send a payment abroad.

“With our wealth management business, we are well equipped to help parents prepare for the financial responsibility of sending their children to university. Not only do we offer competitive education policies, but we also offer investment solutions with the potential to generate good returns that parents can use to pay for their children’s education. We encourage our customers to start planning early and affirm that we will support them along the way, ”added Paul. added

Via the Soko Directory Team

Soko Directory is a digital finance and market portal that tracks brands, listed companies in the NSE, SMEs and trendsetters in the market ecosystem. Find us on Facebook: facebook.com/SokoDirectory and on Twitter: twitter.com/SokoDirectory

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