A full insight into the loan options available for higher study in Germany.Useful information regarding secured and unsecured loans available, rate of interest, expenses covered, repayment, loan amount, fee, processing time, decline reasons , documents required and much more relevant information.

1. 1GyanDhan
Education Loan
Options for study in
Germany

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Approximate Cost of study in Germany
❏ Education in Germany is subsidized by the state. Therefore, most
state-funded institutions charge no tuition fees or very low
tuition fees.
❏ Every student studying in Germany gets a scholarship,students
studying a particular specialized course or at a private
university might have to pay higher tuition fees. Depending on
their university and services provided, students also have to pay
a semester fee of €300.
❏ Let us take a look at the tuition fee of the top 4 German
universities for different programs.

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Universities of Germany
Features
Ludwig
Maximilia
n
University
of Munich
(LMU)
The
Technical
University
of Munich
Heidelber
g
University
Humboldt
University
of Berlin
Fees
Students
have to
pay a
nominal
semester
fee of
€67,40.
Students
have to
pay €129,40
for
student
services.
Students
have to
pay a
semester
tuition fee
of €1500
per
semester
Students
have to
pay a
semester
fee of €300

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Education Loan for study in Germany
(Unsecured Loan)
Features
Public Banks
(SBI, BOB)
Private Bank
(Axis Bank)
NBFCs
(Avanse,Incre
d)
Loan Amount
(INR)
Upto 7.5 lacs
INR 40 lakhs
(For Few
Selected
Universities,
for others
only up to INR
7.5 Lakhs)
INR 20 lakhs
(Easier for
Master’s
courses as
compared to
others,
amount based
on the co-
applicant
income)

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Education Loan for study in Germany
(Unsecured Loan)
Features
Public Banks
(SBI, BOB)
Private Bank
(Axis Bank)
NBFCs
(Avanse,Incre
d)
Interest Rate 10%-11% 11.25%-12% 12%-16%
Payment
during Study
Period
No
Simple
Interest
Simple
Interest

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Education Loan for study in Germany
(Unsecured Loan)
Features
Public Banks
(SBI, BOB)
Private Bank
(Axis Bank)
NBFCs
(Avanse,Incred
)
Processing Fee
(INR)
No
INR 15000+GST
INR 750 per
lakh for
amount > 20 L,
rest 0
1-2% of the
loan amount

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Education Loan for study in Germany
(Secured Loan)
Features
Public Bank
(SBI,BOB)
Private Bank
(Axis Bank)
NBFCs
(Avanse,Incre
d)
Loan Amount
(INR)
up to INR 1.5
Cr
up to INR 60
lacs
up to INR 50
lacs
Interest Rate 8.85%-10.25% 11%-13.5% 12%-14%

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Education Loan for study in Germany
(Secured Loan)
Features Public Bank
(SBI,BOB)
Private Bank
(Axis Bank)
NBFCs
(Avanse,Incre
d)
Processing
Fee (INR)
INR 11800 +
Property
Evaluation
Charges
INR 15000+GST
INR 750 per
lakh for
amount > 20 L,
rest 0
+ Property
Evaluation
Charges
1%-2 % of loan
amount

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Education Loan for study in Germany
(Secured Loan)
Features Public Bank
(SBI,BOB)
Private Bank
(Axis Bank)
NBFCs
(Avanse,
Incred)
Payment
during study
Period
No
Simple
Interest
Simple Interest

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Education Loan for study in Germany
Features Public Bank
(SBI,BOB)
Private Bank
(Axis Bank)
NBFCs
(Avanse,Incred)
Expenses
Covered
They cover 90%-
100% of the
study-related
expenses
They cover
90% of the
expenses
They cover 100%
of the overall
expenses

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Education Loan for study in Germany
Features Public Bank
(SBI,BOB)
Private Bank
(Axis Bank)
NBFCs
(Avanse,
Incred)
Repayment
Period
Within 10-15
years; the EMIs
and interests
begin 6 months
after
completion of
the course.
Payment of
interest
immediately
after, but the
EMIs begin 1
year after
completion of
the course.
Payment of
interest
instantly after
and even
while
studying.

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Education Loan for study in Germany
Features Public Bank
(SBI,BOB)
Private Bank
(Axis Bank)
NBFCs
(Avanse,
Incred)
Processing
Time
12-15 working
days
7-10 working
days
4-5 working
days

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Education Loan for study in Germany
❏ Requirement for Co-applicant Income - Co-applicant’s
income is not mandatory for a secured loan. However,
for an unsecured education loan, the co-applicant’s
income is mandatory, but it varies from lender to lender.
You should check your loan eligibility to know the exact
details.
❏ Common Decline Reasons - Some of them are
incomplete documentation, poor CIBIL score, low co-
applicant income, etc. Students who wish to avoid
rejection of their education loan option can take the
help of GyanDhan. Students who apply through us have
a 50% higher chance of loan application acceptance.

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Documents Required for Secured Loan
Although the list varies from lender to lender, some
common documents which are required by all lenders are
as follows:
❏ Know Your Customer document of the applicant and the
co-applicant
❏ Citizenship proof and proof of residence of the applicant
and co-applicant
❏ Mark sheets of the student
❏ Letter of admission from the German university
❏ If applying for a secured loan, documents related to
collateral
❏ If applying for an unsecured loan, co-applicant’s bank
statement and income tax returns
❏ Fees structure

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Ways to get an Education loan for
study in Germany
Some of the ways in which GyanDhan helps students
get a education loan for Germany are as follows:
❏ GyanDhan assigns a dedicated loan counsellor to each
student. The loan counsellor studies their case and then
discusses the best loan options for them. Interested
students can request a callback.
❏ The student, with the guidance from the loan counsellor,
finalizes the lender. Post this, we will give a customized
list of documents that need to be submitted with the
loan application. Students who apply to SBI or BOB and
stay in a Metro city will have their documents picked up
from their homes. For those living in Tier 2 and Tier 3
cities, we will arrange a meeting with the branch head.

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Ways to get an Education loan for study in Germany
❏ Private banks send their Relationship Manager to the
student's home for document pick-up. Those students
who choose an NBFC for their loan will need to simply
upload all their documents on our website.
❏ Once the application is completed and relevant
documents are attached, it is submitted; the lender will
review the application and accept the request if it meets
the criteria.
❏ The bank will then send the loan sanction letter that
needs to be signed by both the applicant as well as the
co-applicant. Post the signature, the applicant can
request for loan disbursement.
Ways to get an Education loan for
study in Germany

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Ways to get an Education loan for study in Germany
GyanDhan has various blogs and tools dedicated to avail
the education loan for higher studies in Germany such as:-
❏ Germany Student Visa Process : What You Need To
Know
❏ How to Get Germany Permanent Residency?
❏ How to Write a Letter of Motivaton (SOP) for German
Universities?
❏ Admission Counselling
Other Useful Resources

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Get in touch with
GyanDhan to avail the
best education loan
options and make your
study abroad dreams
come true!