Education Loan

Education Loans & Schemes for Girl Students in India

Education Loans & Schemes for Girl Students in India

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Read GyanDhan’s guide on education loans and Indian government schemes for women's education. Discover education loans and schemes designed specially for girls.

GyanDhan
Aman
Updated on:  19 Feb 2024  | Reviewed By: 
Ankit Mehra 
| 17.6K | 4  min read

Education is a pivotal stepping stone towards empowerment, and ensuring that girls have access to quality education is crucial for societal advancement. In India, a variety of education loans and schemes have been specifically tailored to encourage more girl students to pursue higher education without financial constraints. Education loan for girl students in India by the government are specially tailored for female applicants to fulfill their specific needs.

Several public and private banks come forward with handpicked schemes for girls' higher education. Despite their goal being the same, the education loan for girl students available in the market differs slightly from one another. 

 

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Top Education Loan Schemes for Girl Students in India:

Did you know that several public banks provide a 0.5% concession on interest rates on education loan for girl students in India? Yes, you read that right. Having a comparative understanding of the education loan for girl students in India would help aspirants like you in choosing the best-suited option. 

Overview of Education Loan for Girls

Bank Interest Rate for Female Applicants

State Bank of India

10.15%

Union Bank of India

9.25%

Bank of Baroda

8.60%

Punjab National Bank

10.25%

Central Bank of India

8.10%


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Indian Government Schemes for Women's Education

To promote gender equality and empower women through education, the Indian government has initiated various schemes specifically targeting women's education. These Indian government schemes for women's education aim to alleviate the financial burdens that often prevent girls from accessing higher education.

  1. list items Beti Bachao, Beti Padhao Yojana

Beti Bachao, Beti Padhao Yojana is a flagship initiative introduced by the Government of India aimed at promoting the welfare of girl children. The scheme focuses on raising awareness and improving the efficiency of welfare services intended for girls in India. 

Eligibility criteria:

  • list items The scheme is generally targeted at the district level, focusing on districts with low Child Sex Ratio (CSR).
  • list items It encompasses all the girl children born in these districts.
  • list items Parents and guardians of girl children in these districts are encouraged to participate in the scheme to avail of the various benefits that are geared towards improving the girl child's welfare and education.
  1. list items Pragati Scholarship Scheme

Offered by the All India Council for Technical Education (AICTE), the Pragati Scholarship Scheme is specifically designed for girl students who aspire to pursue technical education. It aims to empower young women by providing them with financial assistance to continue their technical education.

 

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Eligibility criteria:

  • list items The scholarship is available to girl students who are admitted to the first year of their diploma/degree course or the second year of their diploma/degree course through lateral entry in any of the AICTE-approved institutions.
  • list items Candidates should be of Indian nationality.
  • list items The family income of the applicant should not exceed Rs. 8 lakh per annum during the preceding financial year. In the case of married girls, the income of the parents/in-laws, whichever is higher, will be considered.
  1. list items Sukanya Samriddhi Yojana (SSY)

SSY is a government-backed savings scheme that encourages parents to invest in a bright future for their daughters. It offers attractive interest rates and tax benefits, making it a lucrative option for parents to save for their daughter’s future educational needs and marriage expenses.

 

Eligibility criteria:

 

  • list items The account can be opened by the parents or legal guardian of a girl child until she reaches the age of ten.
  • list items Only one account can be opened per girl child and a maximum of two accounts in the name of two different girl children can be opened in a family (a third is allowed in cases of twins/triplets).
  • list items The account can be opened with a minimum deposit of Rs. 250 and a maximum of Rs. 1.5 lakh can be deposited in a financial year.
  • list items These schemes are part of broader efforts to enhance the educational and social status of girls in India, providing them with the tools they need to succeed and excel in their chosen fields.

Securing an education loan can significantly ease the financial burden associated with higher education. Education loan for girls are often more accessible and come with benefits such as lower interest rates. These advantages make it feasible for many girls to pursue their dream educational courses, both in India and abroad.

If you are someone who wants to study abroad but finances are holding you back then GyanDhan is here to help you navigate through the education loan process. Check your loan eligibility now and our expert education loan counselors will take it forward.

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Frequently Asked Questions

How to get an education loan for girl students in India without collateral?

To get an education loan for girl students in India without collateral, applicants can check the official websites of banks and NBFCs or directly apply from here

Which banks offer the lowest interest rates on education loans for girls?

Several public banks including the State Bank of India, Bank of Baroda, and Punjab National Bank, along with private banks like IDBI Bank and ICICI Bank, offer a 0.5% interest concession on education loans for girl students

Are there any special repayment options available for education loans for girls?

Yes, some banks offer flexible repayment options such as extended moratorium periods, which allow students to start repaying the loan after completion of their studies, and graduated repayment options that can adjust according to the earning level post-graduation

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