<h1>Base rate requirement: banks must price education loans at or above base rates, with specified borrower concessions.</h1> Banks must price education loans at or above their board approved base rates, with each bank deciding rates under its approved policy. The Model Education Loan Scheme provides borrower relief: simple interest during study and moratorium, a 1% concession if interest is serviced during study and moratorium, a 0.5% concession for girl students, and a full moratorium interest subsidy for economically weaker students under the designated subsidy scheme.