Easy way to find your
Loan Provider in Germany

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Secured LoanUpto ₹1Cr

Processing Fee 1.1% - 1.5%

Prepayment Charges Nil

Living Cost Yes

Unsecured Loan Upto ₹30Lac

Margin Nil

Loan Tenure Upto 10 Years

Early Repayment Yes

Secured LoanUpto ₹1Cr

Processing Fee 1.0%

Prepayment Charges Nil

Living Cost No

Unsecured Loan Upto ₹40Lac

Margin Nil

Loan Tenure Upto 12 Years

Early Repayment No

Secured LoanNo Upper Limit

Processing Fee 0.38% - 0.75%

Prepayment Charges Nil

Living Cost No

Unsecured Loan Upto ₹40Lac

Margin Nil

Loan Tenure Upto 15 Years

Early Repayment Yes

Secured LoanNil

Processing Fee 1.0% - 1.2%

Prepayment Charges Nil

Living Cost Yes

Unsecured Loan Nil

Margin Nil

Loan Tenure Upto 14 Years

Early Repayment Yes

Secured LoanUpto ₹1Cr

Processing Fee 1.0% - 2.0%

Prepayment Charges Nil

Living Cost Yes

Unsecured Loan Upto ₹50Lac

Margin Nil

Loan Tenure Upto 10 Years

Early Repayment Yes

Secured LoanUpto ₹1Cr

Processing Fee 0.75% - 1.25%

Prepayment Charges Nil

Living Cost No

Unsecured Loan Upto ₹65Lac

Margin Nil

Loan Tenure Upto 15 Years

Early Repayment No

Secured LoanUpto ₹1Cr

Processing Fee ₹12K

Prepayment Charges Nil

Living Cost No

Unsecured Loan Nil

Margin 10%

Loan Tenure Upto 15 Years

Early Repayment Yes

Secured LoanUpto ₹1Cr

Processing Fee 1.0% - 1.5%

Prepayment Charges Nil

Living Cost No

Unsecured Loan Upto ₹50Lac

Margin Nil

Loan Tenure Upto 12 Years

Early Repayment No

Secured LoanNil

Processing Fee 5.0%

Prepayment Charges Nil

Living Cost No

Unsecured Loan Nil

Margin Nil

Loan Tenure Upto 20 Years

Early Repayment No

Overview Of An Education Loan In Germany

For international students, Germany is one of the most popular study destinations. In fact, Germany achieved its goal of accepting 3,50,000 international students by 2020 in 2017! The key reasons for this rapid increase include great educational quality, a collaborative research environment, free or very low tuition rates, world-class professors, and the number of work opportunities available after graduation. All of these features have enticed a large number of Indian students to seek higher education in Germany. Indian students are the country's third-largest group of overseas students. Germany's best universities are -

- Ludwig Maximilian University of Munich (LMU)
- The Technical University of Munich
- Humboldt University of Berlin
- Heidelberg University

Cost Of Studying Abroad In Germany

Tuition fees for Bachelor's and Master's degrees are free for international students in Germany (unless you opt for a Master's degree in a subject different than the one you studied as a Bachelor's student). Overseas applicants, regardless of their native country, are eligible for the German free education system.

The Federal State of Baden-Württemberg is the single exception, having reinstated tuition costs of 3,000 EUR per year for non-EU/EEA students at the end of 2017. Because most German universities are public, you would just have to pay an administrative fee of between 100 and 350 EUR every semester.

Engineering and Business & Management programmes are the most expensive at German private institutions, with tuition exceeding 26,000 EUR per year for a Bachelor's degree and 40,000 EUR per year for a Master's, which is why it is advisable to take a student loan in Germany.

Student Loan In Germany

Germany is a great place to live, with some of its largest towns, such as its capital Berlin, having a relatively low cost of living. Smaller cities like Aachen and Oldenburg are cheaper in comparison to larger cities like Munich and Hamburg. Even though Germany is a moderately priced European destination for students wishing to study abroad, students must also consider additional living expenses. Among them are student housing, travel and transportation passes, museum tickets, groceries and meals, and more. 

One of the most significant components of the entire procedure is your ability to arrange your funds. Various banks, NBFCs, and international lenders have identified this issue and addressed the challenge of affording higher education by offering student loans in Germany for international students who wish to study there.

Procedure To Apply For A Student Loan In Germany

For students and families interested in obtaining a student loan in Germany, there are various banking and non-banking institutions in India that provide education loans at reasonable interest rates.  Since its inception, applying for a student loan has changed, and students and their parents who want to apply for the loan can now do so effortlessly. However, there are some details that must be considered before applying for the loan. Providing collateral as security is sometimes required to obtain a loan, however, this is strictly on a case-by-case basis. In most circumstances, a co-applicant, who could be your parent, sibling, in-laws, or spouse is required.

The process of obtaining an education loan for Germany is similar to obtaining an education loan for any other study abroad destination. While the procedure is the same, there are a few minor changes. In Germany, students are admitted to universities twice a year, in January and September. Once students have been admitted to the institution of their choosing, the next major challenge will be to raise the finances needed for their educational expenditures. The cost of studying in the nation is extremely low, with students paying no tuition fees for undergraduate courses and very low tuition prices for graduate studies.

Documents Required For A Student Loan In Germany

Nationalized banks, such as the State Bank of India (SBI), offer Education Loans to meritorious students who want to pursue higher education in Germany. UniCreds provides students with a list of documents based on their profile, the co-applicant's profile, and any collateral they may provide. However, in general, these are the documents required for loans for international students in Germany-

KYC Documents - Aadhar Card, PAN Card, Passport

Academic Documents - Mark sheets / passing certificates of S.S.C., H.S.C, Degree courses, Copy of admission letter of the Institute along with Fees schedule

Financial Documents - Bank Statement/ Passbook of the last 6 months.

Things That A Student Loan In Germany Covers

At the time of enrollment, the university will supply you with documents that clearly state the cost as well as the total amount necessary to complete the selected course. Please keep in mind that, while institutions in Germany do not charge a tuition price, there are additional expenditures that students incur during their stay in the country, most of which are usually covered by the loan amount. An institution's loan, on the other hand, would be strictly for educational purposes and would not cover personal costs. The loan amount sanctioned would cover the following expenses:

- Tuition costs (if any)
- Student housing expenses
- Caution deposit funds (security)
- Travel & Transport expenditures
- Study tours, Project Works, Fieldwork during the course of your academic year
- Books, Laptop, Stationary
- Miscellaneous expenses associated with completing the course

Types Of Loans Available For Studying Abroad In Germany

For studying in Germany, there are two types of education loans available: -

Secured Education Loans: These are student loans that have collateral attached to them. You would be asked to pledge an asset as evidence to the lender in order to secure an education loan. There are 2 types of collateral available:

Tangible assets like properties, land, shops, and more.
Intangible assets in terms of Fixed deposits,  government bonds, & insurance

Unsecured Education Loans: Unsecured education loans do not entail the use of collateral. As the name indicates, you do not need to provide any collateral to the lender in order to acquire an unsecured loan in Germany. However, a co-applicant is required, and his or her income will be a critical element in the loan acceptance.

Tips For Choosing The Best Education Loan

Because you are an international student, there are a few tips you should know before applying for a student loan in Germany  -

- Make sure to double-check your loan's processing fees.
- Compare your loans based on income tax exemptions
- Before applying, check the loan margin amount.
- Take note of the loan processing time.
- Check the repayment terms.
- Choose a longer tenure so that you may plan your repayments in advance.
- Apply for the loan at least three months in advance of your visa interview.

Why Choose UniCreds?

UniCreds, unlike any other platform, makes securing student loans easy. Here are some of the reasons why receiving a student loan in Germany with UniCreds is the best choice for you:

- Full financing (up to 100 %) for tuition and living expenses
- No margin money.
- Immediate sanctions in the event of an emergency 
- Options for customised financing
- Comparing education loans
- Tracking of loan applications
- Loans with no collateral
- Doorstep delivery of services
- Paperless approval of loans