According to example embodiments, a substrate for a power module includes first to third parts spaced apart from each other, where the third part surrounds the first and second parts, and a conductive layer on the first to third parts. A terminal of a first polarity is connected to the first part, and a terminal of a second polarity is connected to the second part. The first and second terminals may be spaced apart from each other and each have a coupling part, a body, and a contact part. The bodies of the first and second terminals may overlap each other. A power module may include the substrate.