Education Loan for Switzerland

✓ Secured and Unsecured Education Loans for Switzerland

✓ At interest rate as low as 8.50% P.A.

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Education loans up to 1.5 cr secured loan and up to 75 lacs unsecured loan are available for Switzerland from public and commercial banks, respectively. In addition to tuition costs, education loans also cover living, travel, and insurance costs.

Unsecured or without Collateral Education loan for Switzerland


Loan Parameters


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 a Switzerland university

Valid passport

Co-applicant Salary

The salary of the co-applicant should be at least 4.5 to 6 lacs per year, but this requirement may be negotiable based on the individual's profile.

Banks that Offer Unsecured loan for Switzerland

There are several lenders offering unsecured loans, including private banks and NBFCs.

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

How to get an Unsecured Loan for Switzerland

By simply following these procedures you can get an unsecured loan for Switzerland 

Step 1 - Visit our WeMakeScholars website to request a callback or to fill out a simple common application form.

Step 2 - Your application for a student loan will be started by a financial officer who has been assigned to your profile and will call you.

Step 3 - The financial officer assigned to your loan profile will evaluate your eligibility and advise you of the lenders who are qualified to provide you an unsecured loan.

Step 4 -  All lenders will be able to obtain the appropriate documents from the WeMakeScholars protected documents portal once you have uploaded the required documents, which will be delivered to you by the assigned financial officer and is specifically tailored for your profile.

Step 5 - Once the lenders receive your documentation, your loan application will be sanctioned within two to six days.

Step 6 - You can start the disbursement procedure after you receive the sanction letter from the respective lender.

Get the funding you need for your education abroad with just one call.

Disadvantages of going Directly through Banks for an Unsecured Education Loan

Several factors might cause your student loan application to be denied or delayed.

  • 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

You might not be aware of which product is ideal for your profile, which is the primary issue. Because you are uninformed of better options on the market that are much more affordable for your profile, lenders may take advantage of you by charging you higher interest rates.

Why Choose WeMakeScholars for an Unsecured Education Loan?

Rate of interest Negotiation: Lenders often charge higher interest rates for unsecured loans depending on the student's background. However, WeMakeScholars works to negotiate a lower interest rate for the loan, typically by at least 1% to 2%.

Experience in typical cases: We handle a large number of complex cases involving multiple parties on a daily basis, and are always able to successfully resolve them, regardless of their difficulty.

No service charge: Students can use WeMakeScholars for free, and we will continue to do so until the lender is paid back for the loan..

Transparency: One of the main advantages of using WeMakeScholars is that we provide students with a thorough understanding of the loan application process. Our financial officers will explain each step in detail, ensuring that students are fully informed and understand the process before we begin processing their loans.

Cashback provided: As a thank you for using WeMakeScholars to apply for a study abroad loan, you will receive a discount on the initial payout, up to a maximum of INR 3000

We understand the value of education and are here to help you make it happen. Request a callback now.

Documents Required for Education loan without Collateral for Switzerland

Here are the basic documents required for an unsecured student loan in Switzerland.

Application form

A simple application form including two photos with your signature as suggested by your assigned financial officer.

Student's Documents 

  • Identification proof - Aadhar card, PAN card, and Passport of the applicant
  • Admission letter from the university of Switzerland
  • 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

Financial documents are also included with the identification documents.

If Salaried

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

If Self Employed

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

Other Documents 

  • A letter pointing out that the co-applicant would be answerable for any last expenses now no longer blanketed by the loan ( Assigned economic officer might be sending you the layout of the letter)A verified regular bank statement that includes the co-applicant as well as the student
  • If a loan is requested, an invoice for the requested funds must be presented, including any related travel or laptop costs.
  • Any receipt for transactions that were done beforehand.
  • Loan statements from the prior year that are still outstanding.
  • A letter outlining the discrepancy Sample on stamp paper costing Rs. 100.
  • A letter describing the absence of co-applicants, if applicable filing a tax return

Repayment Plan for Unsecured Loans in Switzerland

After the moratorium period, you must start repaying an unsecured student loan with a 10-year payback term in monthly payments.

For instance, if a student loans Rs. 35 lacs at an interest rate of 11.25% over the course of ten years, they will be obliged to repay the loan using the following repayment schedule:

Repayment schedule


Interest portion

Loan Outstanding

Principal portion

End of 1st year





End of 2nd year





End of 3rd year





End of 4th year





End of 5th year





End of 6th year





End of 7th year





End of 8th year





End of 9th year





End of 10th year






Secured or with Collateral Education Loan for the Switzerland

Loan Parameters


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 in the Switzerland 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 - an equal value of the required amount.


Banks that offer Secured Loan for Switzerland

NBFCs, private banks, and state banks all offer secured student loans in Switzerland.

  • State bank of India
  • Bank of Baroda 
  • Karur Vysya bank
  • ICICI Bank
  • Axis Bank
  • IDFC Bank
  • Avanse 
  • Incred
  • Auxilo
  • HDFC Credila
Get ahead with our education loan options for studying abroad. Request a callback now!

How to Get Secured loan for Switzerland

Here are some suggestions to speed up the lengthy process of acquiring a secured loan.

Step 1 Fill out the common application form at WeMakeScholars to get in touch with your finance officer, or request for a callback.

Step 2 On the call, provide your financial officer the details of your loan so they may look through your loan profile.

After assessing the loan profile, your financial officer will put you in touch with the lender providing you the best education loan for your profile

Step 3 Upload your documents to the WeMakeScholars documents portal following the instructions provided by your finance officer.

Step 4 Your financial officer will keep you updated as the procedure moves along.

Step 5 Get your lender's letter of sanction for your student loan within 15 to 20 days after completing your documentation.

Disadvantages of going Directly through Banks for a Secured Education Loan

Several factors might cause your student loan application to be rejected or delayed.

  • Without a clear list of required documents, it may be difficult to know what to include in your application.
  • If you do not keep track of the progress of your application, it may be ignored.
  • If the process is not transparent, it can be confusing and make it harder to know what is expected of you.
  • If there are delays in the approval of your visa, it may be helpful to reach out for more information.
  • You may not receive funding in advance to cover the cost of a blocked account deposit. It is important to plan accordingly and have the necessary funds available.

The main problem is that you could not know which product is appropriate for your situation, and lenders might take advantage of you by charging you a higher rate of interest since you are unaware of the better, more reasonably priced things that are available for your situation.

Why Choose WeMakeScholars for a Secured Education Loan?

  • WeMakeScholars is a government-funded organization that receives financial support through the Digital India campaign from the Indian Ministry of IT.
  • We have experience handling a large number of complex cases involving multiple parties, and are able to successfully resolve them.
  • Students can use WeMakeScholars for free, and we will continue to do so until the lender is paid back for the loan.
  • We provide transparency by giving students complete information about the process, options for lenders, and details about the loan system. Any decisions made based on their profile will be promptly communicated to the student.
  • As a reward for using our service to apply for a study abroad school loan, students will receive a discount on the initial payout, up to INR 3000.
Worried about paperwork for education loan. Request a callback for a loan solution tailored for your profile.

Documents Required for Education loan without Collateral for the Switzerland

All the paperwork required for an unsecured loan is likewise required for a secured loan. A basic income certificate is sufficient for secured loans; ITRs are not required. The following documents serve as further evidence of the collateral you are pledging.

Additional Documents for Secured Loans

  • A property title deed will be needed.
  • A registered sale agreement, gift deed, or will may also be required.
  • You will need to provide the original receipt for the agreement.
  • If applicable, an allotment letter from a government authority such as MHADA, CIDCO, HUDA, DDA, JDA, or GIDC will also be necessary.
  • To establish ownership, a 30-year link document or a chain of sale deeds may be required. If you have owned the property for more than 30 years, a previous sale deed may be sufficient.
  • Recent property tax and electricity bills with the same address will also be necessary.
  • A copy of a municipality-approved building plan or plot layout may also be required.

Note: Based on the location of the collateral, a callback request or completing the common application form at WeMakeScholars will educate you of the additional documents required.

Repayment Plan for Secured Loans in Switzerland

Switzerland has a secured loan repayment period of 15 years, including a moratorium period of the duration of the course plus one year.

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

Repayment schedule


Interest portion

Loan Outstanding

Principal portion

End of 1st year





End of 2nd year





End of 3rd year





End of 4th year





End of 5th year





End of 6th year





End of 7th year





End of 8th year





End of 9th year





End of 10th year






Expenses Covered for Education Loans in Switzerland

The government of Switzerland offers subsidies that cover the majority of the tuition costs at more public institutions in Switzerland than at private universities, where that option is not accessible. Switzerland may also ask you to show proof of funds for living expenses which you can arrange by taking disbursement from banks if you are taking an education loan.

Expenses Covered

  • Tuition fees
  • Living expenses 
  • Accommodation deposit and rent
  • Travel + Insurance 
  • Miscellaneous
Empower your education goals with our education loan options.

Requirements for a Student Visa in Switzerland

To be able to study anywhere in the world, students from India must possess a student visa that allows them to study and work in that particular country. The Switzerland student visa process could take anywhere from 6 weeks to 12 weeks. Hence, it is recommended that students apply for the same, at least six months before they begin their course in Switzerland. Students who wish to attend their postgraduate studies are required to fulfill certain study in Switzerland requirements:

  1. They must apply for a ‘D’ category visa (long-stay visa) to be deemed eligible to study in Switzerland if their course lasts for more than three months.
  2. Student visa applications from those who are above the age of 30 are refused.
  3. Student visa applications from those who already have a degree in the desired field are also refused.
  4. Students must make an appointment with their consulate/embassy for their student visa at least six months before the course commencement.

List of documents required for a Schengen ‘D’ visa for Switzerland

  • Application for long-stay visa (visa D) – three forms, filled and signed
  • Four passport-size photographs
  • Passport – valid three months beyond the planned stay
  • Letter of acceptance issued by a Swiss university
  • Proof of payment of the registration and tuition fees – original and copy
  • Proof of sufficient financial coverage of living costs in Switzerland for the duration of schooling (21,000 CHF or 19,200 EUR at the beginning of each year of your studies)
  • Scholarship/Loan proof – A letter of an institution that all expenses for the study will be covered by the scholarship or loan
  • CV
  • Letter of motivation
  • Commitment to leave Switzerland on completion of studies

As mentioned above, students are required to show the presence of their yearly cost of living in Switzerland in a savings account opened with banks based in Switzerland or international banks which have branches in Switzerland. All applicants of a student visa have to fulfil this requirement in order to be eligible for a student visa to study in Switzerland. Students who are planning on borrowing an education loan to fund their higher studies will be required to avail of a pre-visa disbursement of their loan amounts from their respective government banks.

Scholarships for Studying in Switzerland

Students can save a lot if they choose to avail scholarships as the tuition fees in Switzerland can be quite expensive compared to other European countries. There are scholarships that are offered by the government of Switzerland which covers up to 100% of the tuition fees in selected domains. Here are some of the best scholarships offered to students in Switzerland.

Universities Recognized for Education Loan in Switzerland

Every bank, public or private, has an updated list of universities for every country, along with a ranking for each institution. Additionally, all colleges are listed by the banks based on their ranking. Simply request a callback from WeMakeScholars' finance officer or complete the standard application form to learn if your university is accepted or not.

Education Loan FAQs

  • Can I get a student loan in switzerland?

    Student loans for Switzerland can be availed up to 1.5 cr secured loan and up to 75 lacs unsecured loan and to choose which is better, request a callback in WeMakeScholars.

  • Who is eligible for a student loan?

    Any resident of India with an admission from any institute in Switzerland is eligible for an education loan, and to initiate your education loan process reach out to WeMakeScholars and request for a callback.

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

    The Switzerland embassy insists on having living expenses and accommodation, i.e, 2100 CHF(20 lacs) approx, for the duration of the course so that the students wouldn’t be affected by any means.

  • Can I work while studying in Switzerland?

    You can work a part time job while studying in Switzerland, but only for 15 hours when the college is running, whereas in spring break you can work all the time.

  • Which bank gives student loans easily?

    There are many NBFCs that can provide a loan easily but approaching the NBFCs directly can lead to a possibility of the lender exploiting you with a higher rate of interest, to avoid these circumstances, visit WeMakeScholars and start your loan process for free.

  • Is Switzerland affordable for international students?

    Students are advised to take out an education loan to spread their costs out over the course of their studies as Switzerland is 75% more expensive than India. WeMakeScholars assists students in obtaining a free student loan

  • Can I get an education loan without my parents income?

    There are multiple products available which don't involve the income of the parents, but location of that specific product might be tough, hence we suggest you to get in touch with WeMakeScholars and initiate your process.