Education and Career Forum

Hi,
I am Rukshar Jahan doing B.E. in CSE. I want to apply an Education Loan for doing MBA after completing my B.E. I came under OBC category. Kindly tell me which Bank will offer me concession in interest rate? Please tell me as soon as possible.

There are some banks which offer 0.50% concession on Interest rate of Education loan. List of Banks which offer concession on interest rate for girls are mentioned below :-

--> HSBC Bank

-->Central Bank of India

-->Corporation Bank

-->Indian Overseas Bank

-->State Bank of India

-->Allahabad Bank

Reserve Bank of India has clearly advised banks to charge interest rate less to girls as compared to boys on education loan. So, almost all banks gives concession in interest rate on education loan.

The concession on interest rate is 0.5%. For example if State Bank of India charges 13.5% on education loan to boys then only 13% rate of interest is charged to girls. This is same with all banks which sanction education loan to candidates.

All public sector and private sector banks give concession on interest rate to OBC girls. In fact, all female candidates from different category get concession in interest rate from top banks of India on amount of education loan.

As per latest data, 0.5% less interest rate is charged for female candidates in case of education loan for any professional course. After that interest subsidy scheme is also given by Central government.

List of Banks that offer concession on interest rate for OBC girls are:

State Bank of India and its associates.

Central Bank of India.

Syndicate Bank of India.

UCO Bank.

Oriental Bank of Commerce.

Punjab and Sindh Bank and all other nationalized and private banks offer a concession of 0.5% on interest rates to all female candidates who apply for education loan.

List of Banks which offer concession on Education loan Interest rate for female (all category) candidates are listed below :-

=> Indian Overseas Bank
=> State Bank of India
=> Punjab and Sind Bank
=> Bank of Maharashtra
=> HSBC Bank
=> Central Bank of India
=> Corporation Bank
=> Allahabad Bank

All the above mentioned banks offer concession of 0.50% for female candidates on rate of interest of Education loan which is offered for pursuing your higher studies in India or Abroad.

All nationalized banks and private banks gives concession on interest rates to girls of all category either it is general category or OBC category or SC/ST category. Whatever is interest rate charged for education loan for male candidate, interest rate for female candidates is generally 0.5% less than male candidates.

Female candidates also get interest subsidy after completion of course. Central Bank and government of India has done and taken all these steps to ensure that girls do not lag in financial respect when it comes to study and fund for professional courses.

I am extremely sorry to state that there is no concession on rate of interest of education loan based on your caste. The rate of interest will be same. However, you can get concession if you are single girl child. Concession are given on different factors in different banks. Hence you need to check this out with the concerned bank in which you will apply for education. The list of banks which offer education loan is attached below for your kind reference.