Students Credit Card Scheme : The cost of education has increased in the past few years and it has become difficult for parents to afford their child’s higher education. The government of West Bengal has issued a student credit card in which a student can avail of a loan of up to RS 10 lakh for their higher education. The West Bengal Student Credit Card Scheme is for the students of West Bengal only and they get the time to pay off loan in 15 years. This loans for the course fee, tuition fee, study fee, material fee, books,computers etc.
Features of the Scheme :
- The Credit Card has a maximum limit up to RS 10 Lakh
- The rate of interest on this loan will be 4 % per annum on a SI basis
- The tenure of this loan is up to 15 years
- There is no need for any guarantor for this loan
- The State Government will act as a guarantor for this loan
- You can take this card to continue higher educations.
- Applicants can use the limit for higher studies in India & Abroad.
- This laon will be available for Under Graduates, Post Graduates, Doctoral & Non-Doctoral study in India or Abroad.
- This loan is also available for the students studying in coaching classes for the competitive exams.
- This loan is available at any bank government or private or any corporative organization.
Eligibility Criteria for the Students Credit Card Scheme : :
Some eligible criteria for the scheme are as follows :-
- The maximum limit of the loan is RS 10 lakhs.
- The age of the student must not be above 40 years.
- 10 years is the minimum period required for the student to live in West Bengal.
- The maximum repayment period for this loan is 15 years.
How to Apply for the Student Credit Card :
- You can apply for this loan from State Government Banks & Central Banks operating in West Bengal.
- The application will be from the respective educational institution to which you have got admission.
- Student can apply online to the web portal and the higher education department maintain it.
- Student will have to link his/her Aadhaar Card or the class X registration Card with the concerned portal.
- Student will make a self-declaration which will be attached to the application form.
- Students applying for this loan needs to upload their progress report card.
Documents required for the Students Credit Card Scheme : :
- Aadhaar Card
- Class X Registration Card
- Application Form
- Self-Declaration
- Progress Report Card
Conclusion
So, the West Bengal Student Credit Card Scheme can help you to get the best higher education. An amount of RS 10 Lakhs is enough to get admission at the best colleges and afford their fees. The tenure of this loan is also long and you have enough time to clear the loan. On the other hand, the interest rate is charged on the SI basis that is just 4% per annum.
Also Read : SABALA SCHEME FOR ADOLESCENT GIRL