WB Student Credit Card Scheme 2021: The Chief Minister of West Bengal Mamata Banerjee has launched a new scheme named West Bengal Students Credit Card Scheme. West Bengal chief minister has already launched a lot of schemes for the benefit of students, so that they can continue their studies without any barrier. One of the latest ones is Students Credit Card Scheme 2021.
In this scheme, a student of class 10 and higher classes can get a loan amounting upto 10 lakh. Thus a student can continue his higher education in West Bengal or in other states or abroad.
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On the acceptance of the application made by you for the scheme, you will be given a credit card by the government. In this WB Student Credit Card, you will be provided an education loan up to Rs 10 lakh at an interest rate of 4%. WB Student Credit Card Amount can be increased by more than 10 lakhs. Some eligibility conditions have been made to extend this loan of Rs 10 lakh. This loan can be extended for undergraduate, postgraduate, doctoral, and post-doctoral studies in India or abroad.
Objective of Student Credit Card Scheme:
The objective of this project is to encourage the students to continue their higher studies. Due to financial crisis many students are compelled to leave or stop their higher studies. Financial lack forces the students to stop their studies. But due to this great project no student have to stop their studies due to financial crisis. A student can get a loan upto 10 lakh at a minimum annual interest with a repayment period of 15 years. As declared by the chief minister of West Bengal Mamata Banerjee, no guarantee is required to get loan. The government will stand guarantee.
Who can apply for this students credit card scheme?
Undergraduate students, postgraduate students, students of professional degree, diploma courses and research at doctoral and postdoctoral level or other similar courses in schools, Madrasahs, colleges universities and other institutions like IITs, IIMs, IIESTs ISIs, NLUs, AIIMSs, NITs, XLRI, BITS, SPA, NID, IISc, IIFTs, ICFAI Business School etc., within or outside the country can apply for this students credit card scheme.
Eligibility Criteria for WB Students Credit Card:
1. The student who want loan under students credit card scheme must be a resident of West Bengal for last 10 years.
2. The student must get enrolled for higher studies in various courses in Schools, Madrasahs colleges, universities and other institutions like IITs, IIMs, IISc, IIESTs, ISIs, NLUs, AIIMSs, NITs, XLRI, BITS, SPA, NID, IIFTs, ICFAI Business School etc, or studying in various coaching centres for appearing in different competitive exams like Engineering/Medical/Law, IAS IPS WBCS SSC etc.
3. The age of the applicant must be within 40 years at the time of applying for loan.
Required Documents:
You need to keep the following documents while applying online for Students Credit Card scheme:
1. Colour photograph of the applicant in JPEG or JPG format between 50 KB and 20 KB.
2. A colour photograph of the co-applicant for co-borrower in JPEG or JPG format between 50 KB and 20 KB.
3. Signature of the student in JPEG or JPG format between 50 and 10 KB.
4. Signature of the co-borrower or guardian in JPEG or JPG format between 50 and 10 KB.
5. Students Aadhar Card in PDF format between 400 KB and 50 KB.
6. Registration certificate of class 10th Board (in case the applicant does not have Aadhaar card) in PDF format between 400 KB and 50 KB.
7. Address proof of the guardian in PDF format between 400kv and 50 KB.
8. Admission receipt in PDF format between 400 KB and 50 KB.
9. Student’s PAN card or undertaking if there is no PAN card in PDF format between 400 KB and 50 KB.
10. Guardian’s PAN card or undertaking if there is no PAN card in PDF format between 400 KB and 50 KB.
11. Relevant page of the brochure/document detaining course fee/tuition fee in PDF format between 400 KB and 50 KB.
Also Read:
How to apply for student credit card scheme:
- Visit the official website https://wbscc.wb.gov.in
- Then click on student registration button.
Then fill up the basic details providing the following information such as:
- First name
- Middle name
- Last name
- Date of Birth
- Gender
- Aadhaar Number
- Now fill up the Present Course of Study providing the following information such as:
- Program Type
- Program Name
- State of Institution
- District of Institution
- Name of Institution.
- Then fill up Contact Details providing such information as
- Mobile Number
- Email ID.
- Then create password and confirm the password.
- Then click on register button.
- Then you will receive an OTP to your mobile number. You have to enter the OTP in the prescribed box and then click on verify button.
- You will receive an applicant ID which will be sent to your registered mobile number. Keep the application ID and password carefully for future usage.
Now click on Student Login button.
Now enter the registration number or user ID. Enter the password which you created during registration. Then put the captcha as shown. Now click on login button.
Then “Applicant Dashboard” will be appeared on the screen. Here click on “Apply Now” button to apply for the loan.
Now carefully fill up the applicant format:
- Fill up the DCF of Student Application such as personal details, co-borrower details, present and permanent address details, course and income details, Bank Details of the Student, Bank Details of the Co-borrower etc. Carefully fill up this application with correct and authentic information.
- Then carefully fill up the declaration and put your signature.
- Then upload the required scan copies of your documents.
- When the uploading procedure is done correctly, click on “Save and Continue” button. Then the applicant can see the applicants profile. The applicant must check his or her profile very carefully. If necessary he or she can edit the profile from edit button. When the applicant is fully satisfied with the given information, he or she must click on “Submit Application” button.
- Then you will be directed to confirm submission. If you are sure you have to press on “Yes” button.
Loan Amount & Interest in Students Credit Card Scheme:
The maximum amount of loan in this scheme is Rs.10 lakh and the interest is 4% per annum.
Disbursement Process:
The loan amount will be credited directly to the designated account of the institution concerned in case of payment of course fees and other fees related to the Institution. In case of buying computer or laptop or books or stationeries or living expenses etc. the loan amount will be credited to the students bank account.
Repayment Process:
Under this Student Credit Card Scheme, the repayment period will be 15 years, that is, the borrower can repay his or her loan at any time within 15 years. The loan amount can be repaid at any time before the stipulated period. If the borrower repay the loan amount early, there will be no penalty or processing cost charged by the bank.
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