Stanchart clients to get Ksh 7million loan for university fees


Stanchart clients to get Ksh 7million loan for university fees

By Soko Directory Team / Posted on July 22, 2021 | 2:56 p.m.

KEY POINTS

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

Customers of Standard Chartered Banks can apply for personal installment loans of up to 7 million shillings to fund school fees, extend additional credit cards to their children to manage living expenses for their children who are studying at the school. ‘foreigner.

This is after Standard Chartered Bank has partnered with Uniserv Education Limited which will see Uniserv providing a suite of solutions including academic research, application services, visa application process, guidance on Covid requirements- 19 and referral services to bank customers.

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

This rich pool of education partners will ensure that Standard Chartered bank clients have a wide choice of higher education options.

Rahim Kassam, Operations Manager at Uniserv Education, said: “Uniserv congratulates Standard Chartered Bank on its commitment to co-create innovative solutions through partnerships like this one to meet the needs of clients on a financial and non-financial level.

“We have been helping parents and students identify suitable educational programs at top international universities for over 16 years. We therefore fully understand the complexity that accompanies researching and sending young adults to universities abroad. The process is not only complicated for the student, but can be very stressful for parents who want the best for their children.

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

Paul Njoki, Head of Wealth Management at Standard Chartered Kenya and EA, said: “Through our research and listening to our clients, we have established that the process of identifying and accessing credible international universities is a complex process for students and their parents. The process becomes even more stressful when parents and their children must navigate the visa application process, identify accommodation, and familiarize themselves with the immediate requirements students need in the first three months of moving to a new institution. away from their familiar surroundings and their families. relationships.

As universities around the world reopen their doors to resume regular on-campus programs and virtual programs as needed, we understand that parents need more guidance today than in the past. Our entire 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 costs of international education. The bank credit card solution allows parents to provide up to four additional cards linked to an anchor account. This means that parents who send their children to school can apply for an additional card, which will allow the child to make payments while they are away. Ultimately, financial tracking is made easier for parents as the anchor card holder will receive notifications from the bank for spending on the additional card by their child abroad.

A major challenge for parents when paying college tuition is factoring in the exchange rate. Standard Chartered Bank customers can now negotiate a fixed rate with the bank and configure the agreed rate on the SCB mobile app. This removes the inconvenience of having to call the bank or come to a branch to negotiate exchange rates each time they want to send a payment overseas.

“Through our wealth advisory business, we are well equipped to help parents prepare for the financial responsibility of sending their children to college. We not only offer a competitive education policy, but we also offer investment solutions that can generate good returns that parents can use to pay for their children’s education. We encourage clients to start planning early and reiterate that we will support them along this journey, ”added Paul.

About the Soko Directory Team

Soko Directory is a digital finance and markets portal that tracks brands, NSE-listed companies, SMEs and trendsetters in the market ecosystem.

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