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ADCB - Education Savings Plan
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Features: No Salary Transfer |
Our guaranteed savings plans, are plans designed to provide you with guaranteed benefits that allow you to face the future, not only with confidence, but with your dreams in mind.
As some of the best things in life are not always free and some can cost quite a bit – be it your daughter’s wedding, general savings, your dream home or your own retirement. Whatever your aspirations for the future are, our capital guaranteed savings plans can help you achieve them.
Investing in our children’s future is the cornerstone in preparing them to become successful and prominent members in their society or community. Education planning is one such activity to equip our children with main success pillar.
An education savings plan is designed to help you plan for the cost of higher education by guaranteeing the growth of your contributions over the years. All you need to do is tell us how much you want to target for your child’s education and we will provide you with the plan that will best facilitate your goals. The required amounts from your plan will then be paid out over a 3, 4 or 5 year period based on your education fees requirements.
Contributions can be made regularly on a monthly, quarterly, semiannual or annual basis as well as in the form of single payment. It is imperative to note that the earlier you start saving toward your future goal the lesser the contribution amount that you are required to make.
Example
Scenario 1: You are 35 years old and have a newborn child. You are hoping to send your child to university at 17 years old and want to ensure a sum of $25,000 per annum over five years to cover education fees. In this case a Capital Guaranteed Savings plan could well be a good solution.
Scenario 2: You are looking to get some returns as in Example 1 above, but you didn’t start planning for your child’s education until he was seven years old, therefore, a higher contribution will be needed to meet the same objective as in Example 1 above. We’ll assume once again that are 35 years old at the time you take out the plan.
*The indicative average net investment composite yield generated by the strategy above was taken at an assumed growth rate of 4.00% p.a.
Disclaimer:
Insurance Products are made available to clients based on their need analysis and request. Insurance products are underwritten by respective insurance providers and issued subject to their terms and conditions. Abu Dhabi Commercial Bank (ADCB) does not offer insurance advice, nor does it manage, underwrite or issue insurance policies. ADCB is not responsible for rejected applications or claims by any insurance company. Premiums received by ADCB for insurance plans are not bank deposits. Investment products are not bank deposits and are not guaranteed by ADCB. They are subject to investment risks, including possible loss of principal amount invested. Past performance does not guarantee future results. Please refer to ADCB Terms & Conditions for Investment Services. This web-page is for information purposes only and does not constitute an offer or solicitation to purchase investment products.
As some of the best things in life are not always free and some can cost quite a bit – be it your daughter’s wedding, general savings, your dream home or your own retirement. Whatever your aspirations for the future are, our capital guaranteed savings plans can help you achieve them.
Investing in our children’s future is the cornerstone in preparing them to become successful and prominent members in their society or community. Education planning is one such activity to equip our children with main success pillar.
An education savings plan is designed to help you plan for the cost of higher education by guaranteeing the growth of your contributions over the years. All you need to do is tell us how much you want to target for your child’s education and we will provide you with the plan that will best facilitate your goals. The required amounts from your plan will then be paid out over a 3, 4 or 5 year period based on your education fees requirements.
Contributions can be made regularly on a monthly, quarterly, semiannual or annual basis as well as in the form of single payment. It is imperative to note that the earlier you start saving toward your future goal the lesser the contribution amount that you are required to make.
Example
Scenario 1: You are 35 years old and have a newborn child. You are hoping to send your child to university at 17 years old and want to ensure a sum of $25,000 per annum over five years to cover education fees. In this case a Capital Guaranteed Savings plan could well be a good solution.
| COLLEGE ENTRY AGE - 17 Years | ||||
| Contribution Period | Plan Tenor | Desired college Entry Age | Required Contribution | Guaranteed College fee per annum (paid out for 5 years)* |
| Annual regular premium | 17 | 17 | $6,414 | $25,000 |
| COLLEGE ENTRY AGE - 17 Years | ||||
| Contribution Period | Plan Tenor | Desired college Entry Age | Required Contribution | Guaranteed College fee per annum (paid out for 5 years)* |
| Annual regular premium | 10 | 17 | $11,506 | $25,000 |
Disclaimer:
Insurance Products are made available to clients based on their need analysis and request. Insurance products are underwritten by respective insurance providers and issued subject to their terms and conditions. Abu Dhabi Commercial Bank (ADCB) does not offer insurance advice, nor does it manage, underwrite or issue insurance policies. ADCB is not responsible for rejected applications or claims by any insurance company. Premiums received by ADCB for insurance plans are not bank deposits. Investment products are not bank deposits and are not guaranteed by ADCB. They are subject to investment risks, including possible loss of principal amount invested. Past performance does not guarantee future results. Please refer to ADCB Terms & Conditions for Investment Services. This web-page is for information purposes only and does not constitute an offer or solicitation to purchase investment products.
** Calculator Definitions
Amount:
The total amount of money borrowed, also referred to as the principal amount.
Rate (%):
This is the annual interest rate on the product which is equivalent to APR, which is going to be calculated in this example.
Years:
This is the original term or length of the product, stated in years.
Effective Monthly Payment:
This is the effective monthly payment, which takes into consideration fees and other costs associated with this product. The effective monthly payment is the basis for the APR calculation.
Calculated Annual Percentage Rate (%):
The Calculated Annual Percentage Rate (APR) is determined using the annual interest rate of the product plus fees and other costs. This rate may differ from bank to bank. APR is useful when comparing two or more products with different interest rates and fee structures.
