The goalkeeper has been persistently linked with a move to Barcelona and he insists that a choice will be made imminently over whether he will stay or go
The goalkeeper, 21, has been strongly linked with a move to Camp Nou as Gerardo Martino's No.1 Victor Valdes prepares to part ways with the Spanish giants when his contract expires in the summer.
Barca have gone as far as to confirm that they are in advanced talks to sign a replacement shot-stopper, hinting that Ter Stegen is a prime candidate.
But the Germany international was coy about whether there had been contact with the Catalans as he set himself a deadline for a choice on whether he could leave the Bundesliga in January or the summer.
"I did not say I knew if there had been communication with Barca," he told Bild. "I will talk soon with [Gladbach sporting director] Max Eberl and CEO Stephan Schippers over my contract and everything else.
"There will be a decision in the next few days. All those responsible know what I am going to choose!"
However, the German club's chief of transfers insisted that he is in the dark over what Ter Stegen will decide to do but hopes he lets Gladbach know as soon as possible if he has made up his mind.
"Gladbach do not know what he will choose to do," Eberl said. "But I'd appreciate it if he told us immediately if a decision has been made."