Credit formation: which are the most competitive in the market?

A few days after the release of the results of the first phase of access to higher education, where almost 43,000 students were placed in public universities or polytechnics, we decided to analyze what is the offer of credit training that exists in the market.

Conditions that those who request must meet, interest rates, payment methods, and other specificities are some of the characteristics of these products, sold by seven financial institutions in Portugal.

Credit training: what is it and how to apply?

Credit training: what is it and how to apply?

Specialized training credit, as the name implies, is intended for anyone who wants to study, and is a loan used to finance academic training, whether in Portugal or abroad (banks usually provide double the amount for those who want to study). want to study abroad).

Courses covered by this product are generally technology certification, undergraduate, postgraduate, masters, doctoral, MBA (Master of Business Administration) or Erasmus + and other international exchange programs.

These products can also be used for entrepreneurship projects or subsistence allowances, tuition fees, educational materials, renting out of residence, travel, stays abroad, among others.

Just like any other loan, you should pay attention to some aspects if you want to contract such a product, such as repayment terms and grace periods. In addition, given the importance of sound financial management as a student, you should take into account all opening fees and initial credit grace periods.

Compare Credit Training

The cost of credit (total amount imputed), conditions for getting the loan and maintaining the interest rate or whether or not there are other associated benefits are also important. Find out about other student credit tips in this article.

As for the advantages associated with specialized training credits, there are several, such as financing up to 100%, the possibility of paying interest only for 6 months and terms up to 192 months, such as Caixa Crediformação, Caixa Geral de Depósitos.

Products with financing up to 100%

At the moment there are several lending institutions offering this product, offering values ​​between 1,000 and 75,000 dollars and interest rates around 5%, which is, compared to other credit products, manifestly low.

With regard to the Agricultural Credit product, the amounts made available are between 5 and 60 thousand dollars, and if the training is in Portugal or Erasmus, the ceiling is 50 thousand. If the training is abroad, it is 60.

The payment terms are between 36 and 168 months, with a maximum term of 84 months if the collateral is collateral or surety and 168 if the collateral is a pledge of investments or mortgage. Here are the grace periods of the Agricultural Credit product :

Finally, it should be noted that monthly capital repayments are made after the grace period, which helps the student to better manage finances and is otherwise common in this type of product. The monthly interest payment is made during the grace period.

The same is true of the Good Finance Credit


Where, in financing the undergraduate degree, you can benefit from a grace period of up to 48 months, paying only interest. For the remaining purposes, this grace period may be up to 24 months.

A good advantage of the product is the exemption from the formalization commission and the interest rate associated with the 12 month Euribor having a spread of 3.5% which may be reduced to 3% depending on the average of the previous school year.

As for terms and amounts, they are available between 25 (Portugal) to 50 thousand dollars (foreign) and 24 to 84 months, if it is a college degree, and up to 60 for the remaining.

Finally, Good Finance Totta’s product has a capital shortage for higher education courses up to 48 months (the maximum being the duration of the course plus 12 months), and the remaining up to 24 months.

With the same name follows the product sold by Montepio, which finances your training costs, or your children, up to 100%, and can start paying only when you finish the course. In addition, it also benefits from a grace period after finishing the course. The table below summarizes Montepio Formation Credit terms and amounts.

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