MicroBank (Ir a Inicio)
Erasmus+ Master Loan gives a significant boost to your studies. It is the fastest way to access credit to complete your university education. It is time to choose a master's degree and prepare your professional career at European level.
You can request the Erasmus+ Master Loan without guarantee and start paying one year after finishing your studies. It is always good to face new challenges and the MicroBank Erasmus+ Master Loan makes it easy for you.
Apply now for an Erasmus+ Master Loan from MicroBank. A customised financial product of the best European mobility programme. No matter your age or your income level. If you have any questions or need more information, check the frequently asked questions.
What are the advantages that make the Erasmus+ Master Loan your best option?
(1) Annual over the life of the loan.
(2) You will have a grace period of up to one year after completing your studies and you will also have a period of 12 months during the life of the loan, during which you will be able to stop paying the instalments. The grace period can be for the total amount or capital during the studies. Once the studies have been completed, there is an additional 12-month grace period for the capital. The maximum grace period is 30 months for master's degrees of up to 1 year and 42 months for master's degrees longer than 1 year.
At the end of the total grace period, the instalment and interest for the outstanding amounts payable will be recalculated.
Yes, providing that:
You can request it:
A receipt for the enrolment fees or documentary proof of admission and of the cost of the master's course.
The certificate of completion of the bachelor's degree or equivalent studies that lead to a master's degree.
* If you apply for the loan and are not a Spanish resident, you must submit a certificate of your credit status in your country of residence. A list of the institutions and entities where this information can be obtained can be found through this link.
No. The Erasmus+ Master loan supports mobility in training, so it cannot be used to finance studies in your country of origin. To apply for it, you must complete the master's course in a country other than your country of residence and in a country other than that in which you obtained your previous degree.
You must complete your master's course at one of the institutions belonging to the programme in order to access the Erasmus+ Master Loan. A list of eligible institutions can be found at the following link.
Yes. In doing so, you should meet the requirements. In addition, you must have obtained at least 50% of the credits in a European institution that belongs to the programme.
* In these cases, the maximum amount of the loan will be equivalent to the period in which you are studying outside your country of residence. For example, a student pursuing a two-year master's degree who studies one year in Spain and one year in France can apply for a maximum of €12,000.
You have to apply for it through a CaixaBank branch. Take the following documents with you:
Yes. The figures set are maximum amounts, but you can apply for the amount that best suits your needs.
Both the enrollment fees for the master's degree and other related expenses (living or travel, for example).
Yes. No problem at all.
You cannot obtain an Erasmus grant and an Erasmus+ Master Loan for going to the same place. However, you can study for a full degree abroad if part of the course is done in another of the 33 countries in the Erasmus+ programme (providing this is not your country of origin, or a country where you have studied previously).
Yes, as long as you live in Spain.
The following are representative examples:
For a loan of €12,000 over 84 months, the APR is 5.64% and the amount repayable (instalments plus interest) is €15,072.60; the resulting instalment for the grace period in the first 24 months is €55 (interest only) and €229.21 for the remaining 60 months (capital and interest). For a loan of €12,000 over 90 months, the APR is 5.64% and the amount repayable (instalments plus interest) is €15,402.60; the resulting instalment for the grace period in the first 30 months is €55 and €229.21 for the remaining 60 months.
For a loan of €18,000 over 108 months, the APR is 5.64% and the amount repayable (instalments plus interest) is €24,143.76; the resulting instalment for the grace period in the first 36 months is €82.50 (interest only) and €294.08 for the remaining 72 months (capital and interest). For a loan of €18,000 over 114 months, the APR is 5.64% and the amount repayable (instalments, fees and interest) is €24,638.76; the resulting instalment for the grace period in the first 42 months is €82.50 and €294.08 for the remaining 72 months.
Only a grace period for the capital at the beginning of the loan has been taken into account in order to calculate the APR.
Granting this transaction is subject to an analysis of the applicant’s solvency and repayment ability based on the institution’s risk policies.
This financing is supported by the European Union by means of the Loan Guarantee Facility set up according to Regulation (EU) 1288/2013 of the European Parliament and of the Council, establishing Erasmus+: The Union programme for education, training, youth and sport. This loan is granted with financing from the European Investment Bank. Granting this transaction is subject to an analysis of the applicant’s solvency and ability to repay the loan in accordance with the institution’s risk policy. The agreement is in force until the 15th June 2022 or until an amount of €10,000,000 has been reached.
CaixaBank, S.A., agent entity of Nuevo Micro Bank S.A.U., assigned TIN A65619421, and recorded in the Companies Registry of Madrid in Volume 31008, Folio 46, Section 8, Sheet M-558139, with registered office in Madrid at Calle Aduana 18.
Information valid until 2020.12.9.NRI: 3194-2019/07809.