Education and Career Forum

Hello Sir, I am studying in 12th standard and preparing for Medical entrance exams. I want to do MBBS after my 12th. I am a female student and I want to apply for an education loan from IDBI Bank. Can I know that is it possible to get concession if I apply an education loan in this Bank?

Originally Posted by Unregistered

Hello Sir, I am studying in 12th standard and preparing for Medical entrance exams. I want to do MBBS after my 12th. I am a female student and I want to apply for an education loan from IDBI Bank. Can I know that is it possible to get concession if I apply an education loan in this Bank?

In general, most of the nationalized banks offer 0.50% (50 bps) concession in interest rate for girl students. The female MBBS aspirant has to contact the IDBI Bank branch for exact details of concessions available.

The IDBI Bank offers education loans for deserving / meritorious students for pursuing higher education in India and abroad. There are no processing charges for studies in India under IDBI Bank education loan scheme. There is no margin required for education loans up to Rs 4 Lakhs under the IDBI education loan scheme. Aspirants can find the details in the website link given Click Here

Being a female MBBS aspirant, you can get 50 basis points reduction on interest rates under IDBI Bank Education Loan. Physically challenged applicants (subject to submission of certificate from a medical practitioner) can also get 50 basis points reduction on interest rates under IDBI Bank Education Loan.
Simple interest is charged during repayment holiday and moratorium period. After the moratorium period the actual interest mentioned is charged.

For details, you can visit:
https://www.idbi.com/education-loan.asp

For female students, most of the banks offer a concession of 0.50% n interest rate charged. There, you will surely get such concession of the banks to have provision for female students. No need to worry about it.

You can also avail subsidy if you belong to a weaker section of the socie. Central government offers the subsidy on interest charged on education loan.