Education Loan to Study in Germany
*T&C Apply. Subject to restrictions under the Income Tax Act,
1961 and Budget 2025.
*T&C Apply. Subject to restrictions under the Income Tax Act,
1961 and Budget 2025.
Get an Education Loan for Higher Studies in Germany
Get a customised education loan for Germany with extended repayment terms up to 15 years to suit your needs. Get financial support for tuition, accommodation, and other study-related expenses with competitive interest rates and tax benefits under Section 80E*.
Eligibility Criteria for an Education Loan to Study in Germany
To qualify for a study loan in Germany, here’s the eligibility criteria:
- Applicant Age: 16 years or above
- Co-Applicant: Generally required can be a parent, spouse, or guardian
- Eligible Students: Those enrolling in bachelor’s or master’s programmes
- Approved Courses*: Academic or professional programmes (MBA, MS, MBBS, etc.)
- Recognised Institutions*: Universities and colleges accredited in New Zealand
Documents Required for Education Loan to Study in Germany
Paperless Documents
Documents required for an education loan application vary based on the borrower’s profile and the type of education loan the borrower applies for.
| Particulars | Photo ID | Residence Proof | Signature Verification |
|---|---|---|---|
| PAN Card |  | | |
| Valid Passport | | | |
| Voter Identity Card | | | |
| Driving License | | ||
Aadhaar Card  | | ||
| ID Card | | ||
| Bank Statement / Passbook | | ||
| Telephone Bill | | ||
| Utility Bill | |
- Marksheet or Certificate for Grade 12 or equivalent.
- Marksheet or Certificate for the last semester/year/degree (e.g. B.E., B.Com., B.Sc. etc.).
- Scholarship Documents (if applicable).
- You must submit the college/university admission/acceptance letter when received.
- Submit the fee structure from the college or university, mentioning the course fee and the estimated living expenses.
- Salaried
- Latest 3 Salary Slips or Salary Certificate on employer’s letterhead.
- Latest one year’s Form 16 from the employer along with one year’s Income Tax Returns.
- Any other income proof not reflected in the above documents (e.g., Rent Agreement etc.).
- Self-Employed Professional
- Latest two years’ Income Tax Returns with I.T. acknowledgement.
- Latest two years’ Audited Financials of the Company including Computation of Income, Balance Sheet, P&L along with all the Schedules.
- 3CB & 3CD for Professionals with a turnover of more than INR 15 lakh and for others whose turnover is more than INR 60 lakh.
Additional DocumentsIn addition to the above, the following documents are to be submitted- Proof of Establishment of the Firm (Shop Act, TIN No, Service Tax registration copy, SSI Certificate etc.).
- Copy of qualification or degree certificate.
- Self-Employed Non-Professional
- Latest two years’ Income Tax Returns with I.T. acknowledgement.
- Latest two years’ Audited Financials of the Company including Computation of Income, Balance Sheet, P&L along with all the Schedules.
- 3CB & 3CD for Professionals with a turnover of more than INR 15 lakh and for others whose turnover is more than INR 60 lakh .
Additional DocumentsIn addition to the above, the following documents are to be submitted- For Proprietors: Proof of Establishment of the Firm (Shop Act, TIN No, Service Tax Registration Copy, SSI Certificate etc.)
- Partnership: Copy of Partnership deed.
- Private Company: Articles of Association (AoA), Memorandum of Association (MoA) and Shareholding Pattern Certified by the C.A.
- Salaried
- Latest six months Bank Statements are required where your salary is credited every month.
- Self-Employed Professional / Proprietorship/ Partnership / Private Limited Company
- Latest 8-month Current Account Bank Statement of the Bank Account where business receipts are credited every month.
- Latest eight months Saving Account Bank Statements.
- Any document to establish the relationship between the student and co-applicant, e.g, Ration card, Marriage Certificate, Birth Certificate, School Leaving Certificate, etc
- Account Statement for loans or credit cards that had delays in payment (as proof of clarification).
- For students with past work experience, the last drawn salary slip.
- Proof of balance funds.
- Notes
- The audit report, duly signed and verified by the Chartered Accountant, must be given in such form, setting forth such particulars as prescribed by the Board. Rule 6G of the I.T. Act provides that such audit reports and particulars should be given in Forms No. 3CA/3CB as applicable, and the statement of particulars should be given in Form No. 3CD.
- For Salaried/SEP/SENP Co-applicant: Saving Bank statement should be up to 15 days before the login date.
- For Self Employed Professional/Non-Processional Co-applicant: Current/O.D. bank statement should be up to 30 days before the login date.
- Copy of PAN Card or Passport is compulsory for all Income Earning/Retired Co-applicants.
we will be happy to assist you further
We recommend that students secure their education financing as early as possible. Doing so not only helps avoid cramming and surprises at the last minute but also helps you focus on your college applications.
Interest Rates on Education Loan to Study in Germany
Access affordable financing with zero penalty on prepayment.
| Feature | Details |
|---|---|
| Interest Rate (Floating) | 9.95%* p.a. onwards |
| Origination Fee | 1.25%* + GST |
| Prepayment & Foreclosure Charges | None |
*T&C apply. Credila Financial Services Limited (Formerly known as HDFC Credila Financial Services Limited). The education loan facility provided by Credila Financial Services Limited will be at the sole discretion of the Company and within the Company's prescribed credit and underwriting norms/guidelines prevailing at the time of processing and disbursing the education loan. The Company maintains the right to change the interest rate at any time and at its sole discretion, without prior notice
How to Apply for an Education Loan to Study in Germany
Follow this 3-step process
1- Apply Online
Fill out the application form and upload documents.
2- Application Review
Get your sanction letter after our credit appraisal.
3- Funds Disbursed
You are all set to get started.
Why Avail a Credila Education Loan?
- Save time. Go online.
- We cover it all
- Start early. Apply before admission.
- Friendly rates. All the way.
- Dream big. Achieve bigger.
- Pan-India network of branches
- The benefit of tax saving
- Flexible payment plans
- No hidden charges
Customer-centric processes with just 3 steps to disbursement.
Up to 100% financing of tuition and living expenses.
Benefit from seamless loan sanctions.
Student loans with customised interest rates.
Exploring funding for larger education costs? Not a problem.
Enjoy multi-city co-borrower(s) and collateral flexibility.
Added tax deductions* that bring down your cost of financing
Repayment tenure of up to 15 years.
What you see is what you pay.
Save time. Go online.
Customer-centric processes with just 3 steps to disbursement.
We cover it all
Up to 100% financing of tuition and living expenses.
Start early. Apply before admission.
Benefit from seamless loan sanctions.
Friendly rates. All the way.
Student loans with customised interest rates.
Dream big. Achieve bigger.
Exploring funding for larger education costs? Not a problem.
Pan-India network of branches
Enjoy multi-city co-borrower(s) and collateral flexibility.
The benefit of tax saving
Added tax deductions* that bring down your cost of financing
Flexible payment plans
Repayment tenure of up to 15 years.
No hidden charges
What you see is what you pay.
*This is subject to restrictions imposed under the Income Tax Act, 1961 and Budget 2025.
#Under the old tax regime. Please consult your Chartered Accountant or Tax Advisor for information specific to you.
Disclaimer: *T&C apply. The education loan facility provided by Credila Financial Services Limited ('The Company/Credila') will be at the sole discretion of the Company and within the Company's prescribed credit and underwriting norms/ guidelines prevailing at the time of processing and disbursing the education loan. Credila maintains the right to change the interest rate at any time and at its sole discretion, without prior notice.
No claims, guarantees, representations, or warranties, whether express or implied, are made by Credila with respect to any communication, reliability, merchantability, quality, fitness, durability, performance and usefulness of any of the products/service and/ or information mentioned therein. Furthermore, Credila accepts no liability whatsoever for the safety, reliability, durability and performance of any of the products/ service and/ or information mentioned therein. For detailed terms and conditions you can visit Credila's official website - www.credila.com.
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FAQs on Education Loan to Study in Germany
Our Students' Success Stories
I must also commend the relationship managers, who were an integral part of my positive experience. Their dedication is a testament to Credila's commitment to excellence in customer service. Their support played a crucial role in making my educational journey smooth and successful, and I'm immensely grateful for their exceptional service."
Ameya Shahu
Arizona State University
Arizona
Abhinav Kshitij
University of Oxford
Nupur Neelanjan Moti
Algonquin College, Canada
Canada
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