The DKB Student Loan

College always means a heavy financial burden. That is why Deutsche Kreditbank AG regularly grants loans to students at a particularly favorable interest rate, the so-called DKB student loan. It is a perfectly normal loan, but one that is funded from an education fund. This fund pays you, as a student, a certain sum every month, just like with other private lenders. With the DKB student loan, it is precisely prescribed how high the interest to be paid is and when the loan has to be repaid. In that respect the DKB student loan is no different from normal loans. You can receive a maximum of €650.00 per month, and the maximum total for the DKB student loan is €39,000.00.

The DKB student loan The DKB Student Loan and Its Terms

- With the DKB student loan, a one-time grant of €5,000.00 is possible for special expenses that are relevant to your studies. - Special repayments or even full payoff of the DKB student loan are possible at any time at no cost. - The effective annual interest rate on this loan is 6.49 percent and is fixed. - Interest is charged only on the money that is actually drawn. In plain terms: whoever spends less also pays correspondingly less interest. - There are no processing fees with the DKB student loan. - In addition, no collateral whatsoever is required from the borrower. - The maximum grace period is 12 months.

However, there are also a few things to keep in mind with this student loan: KfW Bank already pays out a monthly sum from the first semester on presentation of a proof of enrollment. Depending on which subject you study, Deutsche Kreditbank AG only begins its payouts once you have successfully completed the intermediate exam or the third semester. You should factor that in when planning your studies. In addition, the borrower has to submit proof of academic performance. There are fields of study in which the average must not drop below 3.0, sometimes not below 2.5 either (on the German grading scale). So you should keep a good overview of your longer-term performance and always submit the corresponding proof on time. The final requirements for receiving this student loan from DKB are a letter of recommendation and a motivation letter from the borrower.