Student Credit Card West Bengal On 30th June 2021, the Chief Minister of West Bengal launched a new Government scheme to help those students who can not afford higher studies due to financial constraints. This scheme helps those meritorious students to pursue various degrees from secondary level to professional degrees.
Not only that, even if the student wants to study for competitive exams, they can also be able to do that with the help of this student’s credit card.
So, if you are a student and want to study higher level with the help of this Student credit card, then first you need to know all the details about Students’ credit cards. Here in the following, all the details about Student credit card are briefly described, let’s check out
Required eligibility for Student Credit Card West Bengal
The first thing you need to know about Student Credit Card West Bengal is how you can be eligible to apply for this scheme. Let’s check out the criteria required to apply for this scheme
- The first criterion for the Student Credit Card West Bengal scheme is only students who are still studying can be eligible to apply for this card.
- The loan will be avail to students only after their 10th standard.
- There is no such minimum age limit mentioned, but the loan can be granted up to the age of 40 years of the applicants
- Applicant needs to be a permanent residual of West Bengal or at least living 10 years in West Bengal to apply for the Students’ credit card.
- Loans can be given for the preparation of National level Competitive examinations preparations, such as IPS, IAS, IITs and many more.
- The loan is only given for higher study purposes, not for any kind of personal or commercial purpose.
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Documents needed for West Bengal student credit card
Here following is the list of documents that the applicants need to keep ready when applying for the Student Credit Card West Bengal online registration process,
- Colour passport photograph of the applicant. (format should be .jpeg/.png and size should be within 20kb- 50kb)
- Colour passport-size photograph of the co-borrower. (format should be .jpeg/.png and size should be within 20kb- 50kb)
- A photograph of the applicant’s signature. (format should be .jpeg/.png and size should be within 10kb- 50kb)
- Aadhaar card of the student. (format should be PDF and the size of the document is between 50kb- 100kb)
- Signature of the co-borrower or the guardian. (format should be .jpeg/.png and size should be within 10kb- 50kb)
- Class 10th registration certificate of the student. (format should be PDF and the size of the document is between 50kb- 100kb)
- Address proof of the guardian. (format should be PDF and the size of the document is between 50kb- 100kb)
- Admission receipt.(format should be PDF and the size of the document is within 50kb- 100kb)
- PAN card of the student or undertaking in case of no PAN card. (format should be PDF and the size of the document is within 50kb- 100kb)
- The relevant page of the Brochure or document that mentioned the course fee or tuition fee. (format should be PDF and the size of the document is between 50kb- 100kb)
Please note, all the documents mentioned above are declarative and subject to change under the rules of the Government of West Bengal.
How to apply for a West Bengal student credit card
Students who want to apply for the Student Credit Card West Bengal , need to apply for it through online and follow the given instructions to register themselves for this scheme.
- First, go to the official Website of West Bengal’s higher Education Department site i.e. wbscc.wb.gov.in
- Then, after opening the home page, click on the “Students Registration” option.
- Here is the form of student registration display on your screen
- Now you need to fill all the details as per instruction very carefully. Such as name of the applicant, date of birth, address, Aadhaar no and so on.
- After fill all the boxes correctly click on the ‘Register’ button.
- Then a message with application ID and Password sent to your registered mobile number.
- Now you can log in with the application ID and password to complete the process. Here again you need to give more details about yourself and provide the supporting documents as per required.
- Now after completion of all the details and other things do the final submission and do a print-out for future reference purpose.
Features of Student Credit Card West Bengal
Here are the feature or benefits of the Students’ credit cards for future reference
- The maximum limit of the Students’ credit card is up to Rs. 10 lacs.
- The interest of Students’ credit card annually will be 4% on a Simple Interest Basis.
- The tenure of the loan is up to 15 years maximum.
- You can use the Student’s credit card to do higher studies.
- The students can use the card for studies in India and Abroad.
- One of the best feature of this Students’ credit card is there is no need of any guarantor for loan.
- One can take the loan for secondary, higher secondary, undergraduate, post graduate, doctoral. Non – doctoral studies in India or out of India.
- Also, the students’ credit card loan can take for coaching classes for the competitive exams.
- The Student credit card loan is available in any Government or private bank or any cooperative organization.
- One can apply for the Student credit card loan for the middle of any course.
- In case the interest fully serviced during the study period then you can get an additional 1% concession on interest rate in the Central Cooperative Banks, District Central Cooperative Banks and Private or Public Sector Banks.
Margin Money of Student Credit Card West Bengal
There is no such fees and charges are taken under this Government scheme but still there is a margin money need to bear by the student, just check out the rules,
- Below Rs. 4 lacs, there is no margin money deducted
- In case of above Rs. 4 lacs, there is a 5% margin money deducted.
- Margin money included all kinds of Scholarship Assistance.
- Margin money will be extended to one year to yearly basis and in case when disbursement are made on a pro rata basis in applicable cases.
Disbursement and Repayment rules
- The loan amount will directly credit to the designated institution account in case of coaching and other fess the rule is same.
- In case the student take the loan to purchase laptop, computer or any other study material than the amount will directly credit to the student’s account.
- Repayment period for this scheme is 15 years for any loan availed by this Student Credit card scheme
- The loan amount can pay by both the student or his/her parents at any time before the stipulated period of repayment.
Which bank give credit card to students?
How can I register my student credit card in west Bengal?
Which is the best credit card for students?
Paisabazaar Step UP Credit Card
ICICI Bank Student Forex Prepaid Card
These are the best credit card for students.
Which bank gives student credit card in WB?
This Student Credit Card West Bengal scheme by West Bengal Government mainly launched to help those who wants to study higher. There are many students out there who need to stop their study due to financial crisis.
But now it does not happen, as any student who wants to study higher can do this with the help of this credit card scheme. From secondary level to higher degree level every student can make their study complete, with this vision the Government of West Bengal made this scheme.
Hope this article will help you to know all the details about Student Credit Card West Bengal .