What You Need to Know Before Taking an Education Loan for Study in Germany

Edugo Abroad

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Aug 5, 2024

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What You Need to Know Before Taking an Education Loan for Studying in Germany

Here are two types of education loans you should know.

First: Secured Loan

This requires collateral like property papers, insurance policies, fixed deposits, etc.
By taking this loan, you can expect a lower interest rate and lower risk.

Second: Unsecured Loan

This loan does not require collateral, but it is given based on credit history, income, and the submission of documents such as KYC documents, 10th, 12th, and Bachelor’s degree proof, admission letter, fee structure, co-applicant KYC and income proof, blocked account fund proof, registration and ownership documents, and more.
This loan has a higher interest rate and higher risk.

If you want to know which bank offers the lowest interest rate, consult us today.

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