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Educational Loan Rate of Interest & Benefit Girl Child

Education has become costly and one is required to take a loan to finance the education. However one must know the ways and means to finance the same and must understand the implications of the Rate of interest as it can make your life easy or gruesome after you acquire educational qualification.

Earlier Interest rates were linked to the BPLR of banks. However wef from 01 July 2010, the banking system has switched over to base rate linked product pricing for loans and advances. The new system is more transparent and expected to result in better risk based pricing of loans in the country.

We can hope that with number of agencies jumping to provide educational loans, one may be able to get a good deal and may also bring the interest rates down.

Proposals to give impetus to educational loans

  • Interest rates be decided by banks and they should try to keep it bare minimum.
  • 1% interest concession for servicing of interest during study/moratorium period.
  • Banks to charge relatively lower rates for loans up to ₹ 4 lakhs
  • Concessions on interest rate to be provided to girl students.
  • Banks to offer differential interest rates based on rating of courses/institutions or even students.


First of all one has to plan for child education now as it is going to be costlier in future and this factor needs to be factored now. Moreover you can get an approval for loan before your child goes for educational degree and it saves you a lot of running around at last minute. You must check out income tax rebate available under 80E as penny saved is penny earned.

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