West Bengal Student Credit Card Scheme

Introduction

• There is a dream of every student to pursue higher education or to prepare for competitive examination to make a better future for themselves.
• But due to poor financial conditions they are not able to complete their education as well as not able to prepare for competitive examination.
• Keeping these things in mind, West Bengal Government started Student Credit Card Scheme for the students of West Bengal.
• It was launched on 30th June 2021.
• The main objective behind starting Student Credit Card Scheme is to support the poor students and encourage them to pursue their higher education or to prepare themselves better for competitive examination without thinking about the financial constraints.
• Loan will be provided to students on a very low interest rate and also without any collateral security to pursue higher education within or outside India or to prepare for competitive examination under West Bengal Student Credit Card Scheme.
• Collateral Free Loan up to Rs. 10,00,000/- will be provided to all eligible students under Student Credit Card Scheme of West Bengal Government.
• Student can avail the loan under Student Credit Card Scheme to pursue Class 10th, Class 12th, Graduate, Post Graduate or professional courses within and outside India.
• Also, those students who want to do a preparation for competitive examination like Medical, Law, IAS, IPS, WBSC etc can also take loan under West Bengal Student Credit Card Scheme.
• Students can utilise this loan amount to pay their college or coaching institute fees or to purchase the computer or laptop for better study.
• After completion of the course and securing well suited job, students will have to repay the loan taken under Student Credit Card Scheme.
• Interest Rate Applicable on Student Credit Card Scheme Loan is 4% which will be charged 4% per year simple interest.
• The maximum repayment time period of Student Credit Card Scheme Loan is 15 Years.
• The following Banks will issue the Credit Card and Loan to all eligible students under West Bengal Student Credit Card Scheme are :
  • State Cooperative Bank.
  • District Central Cooperative Bank.
  • And other Cooperative Banks Affialited to State Cooperative Banks.
  • PSU Bank.
  • Private Bank.
  • Regional Rural Bank.
• Apart from the Collateral Free Interest Loan, Life Insurance Cover will also provided to beneficiary students.
• Beneficiary Student can avail the benefit and apply for Collateral Free Loan under West Bengal Student Credit Card Scheme through Online Application Form.
• Online Application Form of Student Credit Card Scheme is available on the Official Website of the Scheme.

Benefits of Scheme

• Students of West Bengal will get the following benefits under Student Credit Card Scheme of Government of West Bengal :-
  • Collateral Free Education Loan up to Rs. 10,00,000/- will be Provided.
  • Loan can also be availed for Competitive Exam Coaching.
  • Nominal Simple Interest Rate of 4% per Year.
  • Loan Repayment Time is 15 Years.
  • Loan can also be availed to Study in Foreign Country.
  • Life Insurance Cover will also Provided.
  • Concession of 1% if Loan repaid during study period.

Eligibility Criteria

• Student should be a Permanent Resident of West Bengal, OR
• Student should be a Resident of West Bengal for the Last 10 Years.
• The Age of Student should not be more than 40 years.
• Education Loan can be avail by Student if he/ she :-
  • Pursuing Higher Education.
  • Preparing for Competitive Exam.
  • Studying in Education Course.

Documents Required

• The below mentioned documents is required to be uploaded at the time of applying for the benefit of collateral free education loan under Student Credit Card Scheme of Government of West Bengal :-
  • Photo of the Applicant and Co-Applicant.
  • Scanned Signature.
  • Signature of the Guardian.
  • Aadhar Card.
  • 10th Certificate.
  • Address Proof.
  • Admission Receipt.
  • PAN Card.
  • Income Certificate.
  • Guardian's PAN Card.
  • Marksheet/ Certificate of Last Qualification Exam.
  • Bank Account Details.
  • Email ID.
  • Mobile Number.

How to Apply

• Eligible Students can apply for education loan under West Bengal Student Credit Card Scheme through Online Application Form.
• Online Application Form of Student Credit Card Scheme is available on the Official Website of Scheme.
• Student has to Register themselves first on the website.
• Choose Institution in India or Institution Outside India First.
• Then fill the following details in the Registration Form of West Bengal Student Credit Card Scheme :-
  • Basic Details like Name, Date of Birth, Gender and Aadhar Number.
  • Course Details.
  • Contact Details.
  • Choose Password.
• Check the details and then Click on Register.
• Now Log In again with the received Applicant ID and chosen Password.
• Fill the details in the Online Application Form of Student Credit Card Scheme of West Bengal Government.
• Upload all the required documents.
• Preview the Application Form and then Click on Submit Button to Submit it.
• Student Credit Card Scheme Application Form and Documents will be scrutinised by the concerned officials.
• After initial approval, the application form will be forwarded to bank for the sanction of loan.
• Student will be notified through SMS or Email about the approval status.
• Student can also check the Application Status of West Bengal Student Credit Card Scheme by Login on the Official Wesbite of Student Credit Card Scheme.
• Selected Student List of Student Credit Card Scheme of Government of West Bengal will be available on Official Portal.
• Student Credit Card will be provided to selected students for better identification.
• Loan Amount will be directly credited in the bank account of institution for fees.
• And to Purchase Computer, Laptop, Books and Other Expenses, the loan amount will be credited in the bank account of student.
• West Bengal Student Credit Card Scheme Interest Rate is 4% simple interest.
• Application Status of West Bengal Student Credit Card Scheme can be check on the Mobile App of Student Credit Card Scheme.

Features of the Scheme

• Student can avail the Educational Loan up to Rs. 10 Lakh without any collateral security through Student Credit Card Scheme.
• Interest Rate of West Bengal Student Credit Card Scheme is 4% Simple Interest.
• Time Duration Of Repayment of Loan is 15 Years.
• Loan under Student Credit Card Scheme is also available for those who wants to Study Abroad.
• Students can also apply for the Loan in the Middle of the Course.

Student Credit Card

Important Links

• West Bengal Student Credit Card Scheme Online Application Form. (For Institutes in India)
• West Bengal Student Credit Card Scheme Online Application Form. (For Institutes Outside India)
• West Bengal Student Credit Card Scheme Registration.
• West Bengal Student Credit Card Student Log In.
• West Bengal Student Credit Card Application Status.
• West Bengal Student Credit Card Scheme Mobile App.
• West Bengal Student Credit Card Scheme Bank Application Forms.
• West Bengal Student Credit Card Scheme Guidelines.
• West Bengal Student Credit Card Scheme FAQs.

Contact details

• West Bengal Student Credit Card Scheme Helpline Number :-18001028014
• West Bengal Student Credit Card Scheme Helpdesk Email :-
  • support-wbscc@bangla.gov.in.
  • contactwbscc@gmail.com.
• Department of Higher Education Heldesk Email :- highereducationwb@gmail.com.
• Department of Higher Education, Government of West Bengal,
  Bikash Bhavan, Salt Lake City,
  (5th,6th,8th,10th Floor) Kolkata - 700 091.