Education Loan for Netherlands

✓ Unbeatable interest rate starting at 8% p.a.

✓ Maximum loan amount of 1.5 Cr

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Table of content

  1. Unsecured or without Collateral Education loan for Netherlands
  2. Banks that Offer Unsecured loan for Netherlands
  3. How to get an Unsecured Loan for Netherlands
  4. Disadvantages of going Directly through Banks for an Unsecured Education Loan
  5. Why Choose WeMakeScholars for an Unsecured Education Loan?
  6. Documents Required for Education loan without Collateral for Netherlands
  7. Repayment Plan for Unsecured Loans in Netherlands
  8. Secured or with Collateral Education Loan for the Netherlands
  9. Banks that offer Secured Loan for Netherlands
  10. How to Get Secured loan for Netherlands
  11. Disadvantages of going Directly through Banks for a Secured Education Loan
  12. Why Choose WeMakeScholars for a Secured Education Loan?
  13. Documents Required for Education loan without Collateral for the Netherlands
  14. Repayment Plan for Secured Loans in Netherlands
  15. Expenses Covered for Education Loans in Netherlands
  16. Scholarships for Studying in the Netherlands
  17. Universities Recognized for Education Loan in Netherlands
  18. FAQ's
  19. Need Help? Ask Here!

Education loans for the Netherlands can be availed up to 1.5 Cr secured loan and up to 75 lacs unsecured loan from public and private banks respectively. Education loan covers both tuition fees and living expenses along with travel and insurance expenses.

Unsecured or without Collateral Education loan for Netherlands

Loan Parameters

Details

Loan Limit

Upto 75 lacs

Expenses covered

Tuition fees

Living expenses / Blocked account

Travel card, Insurance Miscellaneous expenses 

Eligible courses

Bachelor's and master's degrees in STEM and management courses 

Certification courses of PG and UG

Interest rate

10.5% to 12.5% per annum

Moratorium Period

Course duration plus 6 months 

Repayment Duration

10 years 

Repayment policies

Simple interest or partial simple interest  is charged during the moratorium period

Eligibility Criteria

Admission to the Netherlands institute

Valid passport 

Co-applicant Salary

The salary of the co-applicant should start from 4.5 lacs to 6 lacs per annum, But this can be negotiated according to your profile.

Banks that Offer Unsecured loan for Netherlands

Unsecured loans can be availed from multiple lenders which include both private banks and NBFCs. 

  • ICICI Bank
  • Axis Bank
  • IDFC Bank
  • Avanse 
  • Incred
  • Auxilo
  • HDFC Credila

How to get an Unsecured Loan for Netherlands

Unsecured loans for the Netherlands can be availed by simply following these steps:

Step 1 - Visit the WeMakeScholars website to request for a callback or fill out a common application form which takes a few minutes.

Step 2 - An assigned financial officer for your profile will be calling you to initiate your education loan application.

Step 3 - The financial officer assigned to your loan profile will be checking your eligibility and will be informing you regarding the eligible lenders for an unsecured loan to your profile.

Step 4 -  Once you submit the required documents in the WeMakeScholars secured documents portal that are custom-made for your profile that will be provided to you by the assigned financial officer, all the lenders will be able to download the documents from the portal.

Step 5 - That’s it, your loan application will be sanctioned within 2- 6 days once the lenders have your documents.

Step 6 - The respective lender will give you the sanction letter after which you can initiate the disbursement process.

Get the support you need for your education loan. Request a callback for a seamless loan experience

Disadvantages of going Directly through Banks for an Unsecured Education Loan

Your application for a student loan may be rejected or delayed for a variety of reasons.

  • No proper document checklist is provided
  • Your application can be ignored if you don’t follow up         
  • Lack of transparency 
  • Delayed sanction 
  • No pre-visa disbursement will be given to pay the Blocked account deposit

The main problem is that you may not know which product is best for your profile. As a result, lenders may take advantage of you by charging you higher interest rates since you are unaware of superior products available on the market that are much more inexpensive for your profile.

Why Choose WeMakeScholars for an Unsecured Education Loan?

Rate of interest Negotiation: Based on the student's profile, lenders frequently demand higher interest rates for unsecured loans. WeMakeScholars, on the other hand, bargains the interest rate down on your behalf by at least 1% to 2%.

Experience in typical cases: We deal with thousands of complex situations involving several parties every day that need to be resolved right away. No matter how hard the case is, we are always able to complete the sanction.

No service charge: WeMakeScholars is completely free for students to use, and we continue to provide our services until you have repaid the lender for the loan.

Transparency: One of the main reasons to use WeMakeScholars is the information we give students about the entire loan application procedure. Our financial officers fully explain each step of this procedure. Before we begin processing the students' loans, we make sure they are completely informed of and comprehend the entire procedure.

Cashback provided: For using WeMakeScholars to apply for your study abroad loan, you will receive a cashback on your first disbursement, up to a maximum of INR 3000.

Your education abroad journey starts with a single call. Request a callback for education loan options today

Documents Required for Education loan without Collateral for Netherlands

These are the fundamental documents needed for unsecured/without collateral student loans in the Netherlands.

Application form

A straightforward loan application form with two photos, your signature, and the information given by your financial officer.

Student Documents

  • Identification proof - Aadhar card, PAN card, and Passport of the applicant
  • Admission letter from the university of the Netherlands
  • Utility bills - Electricity bill, house tax
  • Academic documents - 10th, 12th, Degree/Diploma
  • Competitive exams - IELTS, TOFEL GRE, GMAT scorecards 
  • Gap certificate in case there’s any gap between your degree
  • Experience letter, if there’s any work experience 

Co-applicant Documents

Along with identification documents financial documents are a must.

If Salaried

  • Latest 3 month's salary slips 
  • 6 month's bank statement
  • Company ID
  • Latest 2 years form 16
  • Last 2 years ITRs

If Self Employed

  • Last 3 years ITRs 
  • 6 month's bank statement
  • Balance sheet, Profit and loss account for the last 3 years
  • Proof of Business address

Other Documents 

  • A letter stating that the co-applicant would be responsible for any remaining costs not covered by the loan (The assigned financial officer will be sending you the format of the letter)
  • A manifested standard bank statement with both student and co-applicant
  • An invoice for expenses such as travel, laptop, etc has to be brought if a loan is being asked for it. 
  • Receipt for any transactions made in advance.
  • Any remaining loan statements from the preceding year.
  • Letter explaining the gap. Sample- on Rs. 100 stamp paper. 
  • If relevant, a letter explaining the lack of a co-applicants Income tax return

Repayment Plan for Unsecured Loans in Netherlands

After the moratorium period, you must begin making monthly installments on an unsecured school loan, which has a 10-year repayment duration.

If, for example, a student borrows Rs. 35 lacs at 11.25% over a period of 10 years, the student will be required to return the loan in accordance with the following repayment schedule:

Repayment schedule

EMI

Interest portion

Loan Outstanding

Principal portion

End of 1st year

58684

37462

21222

3974695

End of 2nd year

58684

34947

23737

3703962

End of 3rd year

58684

32135

26549

3401152

End of 4th year

58684

28989

29695

3062462

End of 5th year

58684

25471

33214

2683643

End of 6th year

58684

21535

37149

2259938

End of 7th year

58684

17134

41550

1786031

End of 8th year

58684

12210

46474

1255972

End of 9th year

58684

6704

51980

663109

End of 10th year

58684

545

58139

0

 

Secured or with Collateral Education Loan for the Netherlands

Secured Lenders can offer up to 1.5 Cr for students to pursue higher education in the Netherlands.

Loan Parameters

Details

Loan Limit

Upto 1.5 cr

Expenses covered

Tuition fees

Living expenses / Blocked account

Travel card, Insurance, and Miscellaneous expenses 

  Eligible courses

Bachelor's and master's degrees in STEM and management courses 

Certification courses of PG and UG

  Interest rate

Starts from 8% 

Moratorium Period

Course duration plus one year

Repayment Duration

15 years

Repayment policies

No need to pay any interest during the moratorium period

Eligibility Criteria

Admission to the Netherlands  university 

Valid passport 

  Types of Collateral

Immovable properties -House, Flat, Non Agricultural land

Liquid securities -LIC policies, FD, Govt. bonds

Value of collateral (In case of a collateralized loan)

For top-ranking universities - half the value of the required amount

Other universities - the equal value of the required amount.

 

Banks that offer Secured Loan for Netherlands

Secured education loans are provided by NBFCs, commercial banks, and public banks for the Netherlands.

  • State bank of India
  • Bank of Baroda 
  • Karur Vysya bank
  • ICICI Bank
  • Axis Bank
  • IDFC Bank
  • Avanse 
  • Incred
  • Auxilo
  • HDFC Credila

How to Get Secured loan for Netherlands

Here are some tips to help you complete the multi-layered process of obtaining a secured loan more quickly.

Step 1 Contact your finance officer at WeMakeScholars by filling out the standard application form or requesting a callback.

Step 2 Give your financial officer the information about your loan on the call so that they may examine your loan profile.

Your financial officer will put you in touch with the lender who is providing you with the finest education loan package after reviewing the loan profile.

Step 3 According to the documents checklist that your finance officer has given you, upload your papers to the WeMakeScholars documents site.

Step 4 From here, your financial officer will continue the process and keep you informed.

Step 5 After submitting your paperwork, obtain your lender's letter of sanction for your student loan within 15 to 20 days

Let us help you get the best education loan for studying abroad, tailored to your needs

Disadvantages of going Directly through Banks for a Secured Education Loan

Your application for a student loan may be refused or delayed for a variety of reasons.

  • No proper document checklist is provided
  • Your application can be ignored if you don’t follow up 
  • Lack of transparency 
  • No chance for negotiating the rate of interest
  • Delayed Sanction 
  • No pre-visa disbursement will be given to pay the Blocked account deposit

The primary issue is that you could not know which product is best for your circumstance, and lenders might take advantage of you by charging you a greater rate of interest since you are ignorant of the superior, more affordable items that are accessible for your circumstance.

Why Choose WeMakeScholars for a Secured Education Loan?

Government-funded: WeMakeScholars is a government-funded organization that receives funding from the Indian government's ministry of IT, under the Digital India campaign.

Experience in typical cases: Every day, we handle hundreds of complicated cases involving several parties that must be resolved urgently. Regardless of how complicated the case is, we always manage to issue the sanction.

No service charge: WeMakeScholars is completely free for students to use, and we continue to provide our services until you have repaid the lender for the loan.

Transparency: When a student contacts WeMakeScholars, they are always fully informed of the procedure that has been followed, provided a variety of lender alternatives, and given first-hand information about the loan procedure. The student will be informed of any decisions taken in line with the profile as soon as possible.

Cashback provided: You will be given a rebate on the first payout up to a maximum of INR 3000 as a thank you for choosing WeMakeScholars to apply for your study abroad school loan.

Documents Required for Education loan without Collateral for the Netherlands

A secured loan also requires all the documents that are needed for an unsecured loan. For secured loans, the co-applicant does not need to have ITRs; a basic income certificate is sufficient, and the following papers serve as further proof of the collateral you are pledging.

Additional Documents for Secured Loans

  • Property Title Deed
  • Registered Sale Agreement / Gift Deed / Will
  • Original registration receipt for the above agreement
  • Allotment Letter By Municipal Corporation / Authorized Govt. Authorities like MHADA, CIDCO, HUDA, DDA, JDA, GIDC, etc. (if applicable)
  • 30 years link document or Previous chain of sale deed establishing title or EC is required. It is a 30 years track record of who sold the property to whom in the last 30 yrs. If you own the property for more than 30 years, then the previous sale deed is enough.
  • Latest property tax bill and Latest electricity bill bearing the same address
  • Copy of municipality-approved building plan or plot layout.

Note: A callback request or filling out the common application form at WeMakeScholars will let you know what further papers are needed based on the collateral's location.

Our education loan service is designed to make the education loan process simple and easy for you.

Repayment Plan for Secured Loans in Netherlands

The Netherlands has a 15-year secured loan repayment period with a moratorium period of course duration plus one year.

This would be your payback schedule, for instance, if you took out a loan for 24 lacs with an interest rate of 8.5% and a 10-year repayment period.

Repayment schedule

EMI

Interest portion

Loan Outstanding

Principal portion

End of 1st year

34317

18418

15899

2584254

End of 2nd year

34317

17012

17305

2384444

End of 3rd year

34317

15483

18834

2166972

End of 4th year

34317

13818

20499

1930278

End of 5th year

34317

12006

22311

1672662

End of 6th year

34317

10034

24283

1392275

End of 7th year

34317

7888

26430

1087105

End of 8th year

34317

5551

28766

754960

End of 9th year

34317

3009

31308

393457

End of 10th year

34317

241

34076

0

 

Expenses Covered for Education Loans in Netherlands

The Netherlands consists of more public universities where the government of Netherlands provides subsidies that cover most of the tuition fees, whereas in private universities that option is not available. 

Certain universities in the Netherlands require students to pay their entire year’s tuition fees before their visa process has even started, for e.g, the TU-Delft, one of the premier technical universities in the Netherlands requires students to deposit a year’s tuition fees before they can be accepted for any program. If you are going through an education loan then the sanction letter is enough to convince the embassy. 

Also if the embassy asks for Pre-Visa disbursement then you can make that happen by talking to your WeMakeScholars financial officer who will talk to the bank on your behalf.

Expenses Covered

  • Tuition fees
  • Living expenses 
  • Accommodation deposit and rent
  • Travel + Insurance 
  • Miscellaneous

Scholarships for Studying in the Netherlands

In comparison to other colleges in Europe, universities in the Netherlands charge lower tuition costs. Although there are also more scholarships available, the amount of each scholarship depends on the student's profile. The following is a list of numerous scholarships offered to most overseas students.

Take control of your education abroad finances with our help.

Universities Recognized for Education Loan in Netherlands

Each bank, whether public or private, maintains a list of universities for every nation, with a ranking for each university. And according to their rating, all colleges are included in the banks' list. To find out if your university is included or not, just get in touch with WeMakeScholars' financial officer by requesting for a callback or filling out the common application form.

Education Loan FAQs

  • Can I get education loan in Netherlands?

    Students can get upto 1.5 cr secured education loan and upto 75 lacs unsecured education loan for the Netherlands. And all you have to do is visit WeMakeScholars

  • How to afford to study in the Netherlands?

    Education in the Netherlands is affordable if you stick to the economy level as the Netherlands can be very costly in terms of cost of living, but you can still afford it by simply taking an education loan by requesting a callback from WeMakeScholars to initiate your loan application.

  • How to get a student loan to study in the Netherlands?

    Student loans to study in the Netherlands can be availed from multiple lenders including both public and private along with NBFCs but the challenge lies in choosing the right product for your profile, WeMakeScholars can choose the right product for you free of cost.

  • Who qualifies for student finance Netherlands?

    Any student with an admission from Netherlands university is eligible for student finance, and to initiate your loan application process, visit WeMakeScholars and request for a callback.

  • How much bank balance is required for Netherlands student visa?

    To study in the Netherlands, students should possess the living expenses for the first year, which is € 10,732, approximately ₹10 lacs.

  • Is Netherlands costly for Indian students?

    The Netherlands is 75% more costly than India, so it’s recommended to students that taking an education loan will help them carry out their expenses more evenly throughout their education. WeMakeScholars helps students to get an education loan free of cost.

  • Is IELTS compulsory for Netherlands?

    Most of the universities in the Netherlands require IELTS scores as they are taught in English, hence a good IELTS score is required to study in the Netherlands.

  • Which education loan is best for studying in Netherlands?

    Though knowing the best education loan product for all the profiles is pretty exciting, there’s no certain type of education loan product that is suitable for all profiles, because each profile has its own metrics and WeMakeScholars can help you find an education loan suitable for your profile.

  • What are the education loan options available for the Netherlands?

    There are two options for education loans for the Netherlands, Secured loans and unsecured loans and each has its own criteria of eligibility.

  • Can International students get student loans in the Netherlands?

    International students can also get student loans if they are holding an admission from a university in the Netherlands.

Our Education Loan team will help you with any questions

Naresh Kumar
WeMakeScholars- supported by IT Ministry, Govt. of India.
Published: | Updated: