Money

How to save 10% on your UAE school fees

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As a number of reports over the past few weeks have shown, school fees are very pricey in the UAE, with parents here having to contend with some of the highest fees in the world.

But if you’re a parent struggling to keep up with the financial burden of school fees, there is a solution to your problem. If you pay school fees using the Standard Chartered Titanium credit card, you can get up 10% cashback on your school fee payments. Given how expensive school fees are, that can result in some seriously handy savings.

RELATED: Top tips: Keeping up with rising school fees

And even if your child’s school doesn’t accept credit card payments, you can still take advantage of the offer. You can apply for a School Fee Monthly Installment plan through your Titanium card. Standard Chartered will provide you with a cheque addressed to the school and the amount required, and you can simply pay this back in six to 12 equal monthly installments with 0% interest – and you’ll even receive the cashback on the installment amount.

Here’s how it works. If you’re paying AED 21,000 per year in school fees and you’ve requested for the payment plan then you’ll be paying AED 3,500 per month if you pay back in six months. Each month, the cashback you’ll receive will be AED 350. This means that, over the payment period, you’ll save up to AED 2,100.

That said, you’ll only be able to earn cashback if you use the card regularly. You’ll have to spend AED 15,000 on it to be eligible for the cashback offers.

If you want to get hold of this card before the new school year starts, it would be wise to apply for it now before summer ends. That way you’ll have plenty of time to meet the minimum spend requirements before having to pay the next set of school fees, meaning you’ll definitely get your cashback.

SEE ALSO: UAE parents pay double in global average in school fees

And if you think saving money on school fees isn’t incentive enough to apply for the credit card, there’s more. The Titanium credit card can also give you 10% cashback on grocery shopping and utility bills. The same conditions apply; if you spend over AED 15,000 then you’ll be able to receive 10% cashback.

Also, if you find yourself using Careem frequently, you can save money on that as well. Once you’ve registered the credit card, the first ride will be free, plus you can get two 20% discounted rides per month.

Interested? Click here to apply!

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