Best Student Loans in Portugal

Compare the best options on the market and choose the one which best adapts to your day-to-day needs.

Further Below: Our Guide To Student Loans in Portugal, Everything you need to know.

Our Rating: 9.5/10

  • Loans available for any purpose
  • Friendly interest rates including a 12.1% annual interest rate
  • Flexible loan limits of up to €50,000
  • Convenient repayment periods of up to 120 months
  • Few additional loan fees
  • Fast concessions
  • Fewer eligibility criteria

Banco BPI Portgual

Our Rating: 9.2/10

  • Flexible loan amounts of up to €30,000
  • Long repayment terms of up to 72 months
  • Available for a variety of purposes
  • Attractive interest rates and 11% APR
  • Fast approval within 24 hours
  • Insurance is optional
  • Top loan conditions


Our Rating: 8.9/10

  • Flexible loan size of up to €30,000
  • Fast approval process within 48 hours
  • Hassle-free application through an online platform
  • Customizable repayment period of up to 120 months
  • Less stringent eligibility criteria
  • Prefers funding applicants with an income
  • Fixed interest rates on long term loans

Banco Santander Totta S.A.

Student Loans in Portugal, All You Need To Know:

Are you thinking of pursuing your undergraduate, graduate, and postgraduate courses, or going for Erasmus in Portugal? Financing your education in Portugal just got better and many students are achieving their goals every year because of these credits. However, there are several factors affecting student loans, which we’ve discussed below. Take a 360-degree tour into this form of financing to be fully equipped as you take out the loan.

Quick Summary

What you should know about student credits:

  • Different lenders provide different student credits designed to address different economic situations
  • Student loans have better loan conditions than many other forms of credits
  • Student loan providers often require the borrower to provide a guarantor during the application
  • While many student loan applicants are students, some entities allow parents to make the application
  • Student credits have a grace period of between 1 and 5 years
  • Student grants from the state are available to both EU and non-EU students who meet the marked out requirements

Types of student loans we can apply for

While student loans in Portugal are granted by both banks and the state, we have classified these loans in terms of their purpose. Which types of student loans are available?

  1. Financing an undergraduate (Bachelor’s) degree. The loans come in two ways:
    • Loans that cover the tuition fee in full or partly. Lenders will require you to show proof of tuition.
    • Loans that cover every cost that’s related to studies including tuition fees, hostel fees, transportation, educational trips, transportation, etc.
  2. Scholarship Advances: Students with scholarships apply for scholarship advances because the scholarship funds arrive later in the semester. Scholarship advances are reimbursed as soon as the student receives the scholarship funds.
  3. Postgraduate programs: These loans finance a doctorate, postgraduate diploma, or a master’s degree student. The loan will either cover their tuition fees only or every cost related to their studies.
  4. Studies abroad: Just as in scholarship advances, the loan will advance the scholarship funds to enroll the student at the beginning of the course. The loanee will then pay the loan once they receive the scholarship funds.
  5. Specialized courses: Mostly short courses like computer classes, middle grade training cycle, etc.
  6. Financing of laptops: Purchase of laptops through student loans has proved more affordable as many lenders have come up with loans specifically designed for that.

In the face of the different forms of financing, it’s now possible to land a student loan that perfectly suits you. In case of any doubts or questions, be sure to consult with the lender.

Financing linked to the educational center

This is one of the best ways to get financing for your studies. Many institutions of higher learning in Portugal have agreements with student loan lenders who provide curated student loans rather than generic ones. In this way, the student gets financing for their specific course, and all the expenses related to the particular course are catered for. This makes it more preferable to other student loans which may require the student to meet some studies-related expenses. 

Hence, before taking out a student loan elsewhere, be sure to consult your school to know whether they have such loans and establish whether or not they are the best offer for you.

Are student loans cheaper?

Generally, student loans have better conditions compared to other loan types. They are mostly associated with attractive interest rates, long repayment periods, and the grace period that allows a student to fully prepare themselves before they start repaying the loan. 

Student loans are referred to as good debts because they help in making the applicant a better person in the economy. Most students reimburse the loans after becoming professionals in different sectors of the economy and after having secured some form of employment.

Characteristics of student credits

While student loans have low interest rates and long repayment terms, getting an overall view of the loans will help you make a well-informed decision as you take them out.

  • Student loans have low interest rates of between 3% and 6%. Some lenders place a 0% interest rate. 
  • Some lenders tend to charge commissions later after taking out the loan. Hence, it’s advisable to pay keen attention to the contractual details to be prepared for these costs.
  • Student loans tend to have opening fees which are up to 2% of the loan. The fee is always paid in the first month of the loan repayment.
  • If a loanee decides to repay the loan in advance, they may have to pay an early repayment fee, which is mostly between 0.5% and 1%.
  • Student loans tend to have some form of tying which generally are free tied products adapted to the student’s profile such as a current account and a card that the student will have to use.
  • Most student loans require guarantees. This is because many applicants are minors. Guarantors with a stable income are used to act as collateral.

Requirements to be able to apply for a loan as a student

  1. Be of legal age. A loan is only provided to an applicant of the right age (above 21 years). If the applicant is a minor, the parent will be required to make the application on their behalf. Note: Some lenders will only approve applications made by the parents.
  2. The applicant should maintain a good credit history, from which the bank will draw confidence in their loyalty to repay the loan.
  3. Have a stable form of income. The lender will evaluate your income as well as your monthly expenses to determine whether you qualify for the loan.
    • In the case of an unemployed applicant, the entity will require a guarantor with a stable income (who is mostly the parent).
    • In many cases, student loans are granted to applicants without a source of income, requiring them to repay them after completion of studies.
    • Scholarship advances do not require applicants with income or collateral because the loan will be repaid as soon as the scholarship funds are released.
  4. Be a Portuguese resident. This covers natives, EU, and non-EU students. Some lenders provide loans to non-EU students as long as they have a residence permit in Portugal.

Documentation for applying for a Student Credit in Portugal

  • National identity card
  • Taxpayer identification card (NIF)
  • No. Social Security (NISS)
  • Permanent or temporary Portuguese residence permit

Can I get a student loan if I don’t work?

This greatly depends on the lender’s terms and conditions. Some lenders will grant the loan to students who do not work provided they present guarantors who guarantee the loan repayment. In this case, the guarantor will be required to have a stable source of income.

However, some entities will not allow guarantors to come in for students without income. Hence, they only provide loans to students who present their pay slips.

Since scholarship advances don’t have this requirement, the applicant will have to show proof of the scholarship.

There are study credits that can be paid later

Student loans offer different grace periods. While some offer a full grace period (of up to 5 years), others offer 1 or 2 years. With a full grace period, the student will start repaying the loan after they complete their studies, whereas the partial grace period allows the applicant to start paying the interest charges, leaving out the principal amount.

About this page, our methodology

About this page: we are out to help you to get the best financial product that’s consistent with your financial situation. We, therefore, marshal the best available information about consumer credits and what factors to consider as you compare the options so you may end up with the most attractive product at the moment.

Source: the information regarding the main characteristics of loans in Portugal and their current regulation comes from the Banco de Portugal, the Portuguese Consumer Credit Act, among other reference portals.

Methodology: The data relating to the conditions of these products (amount, term, interest, etc.) have been obtained through online research and consultation of the official statistics of the aforementioned reference sources.

About Us: FUNDGECKO is an online comparator website that helps borrowers who are indecisive about consumer loans and what option to hire. We help our users compare the options like pros by providing all the information they need about consumer credits and how to end up with an option that best addresses their situation.

Note: the services we offer are totally free for the user, as FUNDGECKO obtains its income from advertising and its featured products.

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