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Educational Loan for Germany blocked account

Hello, I want to study in Germany, but my family cannot pay my expenses. Please tell me that international students can get an educational loan. If yes, then How?

1 Answers Reply
  • Anjali Murthy
  • 1 year ago

A student who wants to go to Germany for educational purposes can apply for an educational loan in India. However, public universities are free for international students in Germany. Still, a student must pay the blocked account amount of €11,208, the program fee, the buffer amount, & monthly fee for opening a blocked account. Educational loans are available in two categories (a) Secured loan and (b) Unsecured loan. If you select a secure loan, you must provide collateral to the bank, but if you choose an unsecured loan, there is no need for any collateral. The amount of €11,208, almost around INR 10 lakhs, and you get an educational loan of up to INR 12 lakhs. To get an educational loan, follow the following steps;

  1. Open Education Loan for Germany page
  2. Complete the online application and upload a valid copy of your documents. The documents required are as follows;          
  3.  Scanned copy of your passport, adhaar card, and pan card, plus your co-applicant documents like pan card and aadhar card.
  4. Admission letter from German University and valid TRF (IELTS, PTE or TOEFL).
  5. Co-applicant's income proofs, such as GST certificates, Salary slips, etc. In addition, the bank statement of you and your co-applicants.  
  6. (Optional)Collateral documents if you have selected a secure method for an educational loan.    
  7. After documentation, the bank will continue the procedure and grant you the loan within a week. The bank will directly transfer the amount you got for an educational loan to your blocked account in Germany.  

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