Student Credit Card Scheme West Bengal PDF Summary
Hello Students! here we have uploaded Student Credit Card Scheme West Bengal PDF for you. This scheme has been launched by Chief Minister, Mamata Banerjee to improve the education rate in the state. Under this scheme government will provide loan to students for higher education at a very low interest rate. The eligible students can get up to Rs.10 lakh loan for their higher education. The government has also confirmed various online meetings with colleges to explain this new scheme. Below you can download Student Credit Card Scheme West Bengal PDF directly using the link or visit at official website https://wb.gov.in/.
West Bengal Student Credit Card Scheme PDF – Highlights
|Name Of The Scheme||West Bengal Student Credit Card|
|Launched By||Government Of West Bengal|
|Beneficiary||Students Of West Bengal|
|Objective||To Provide Loans For Higher Education|
|Amount Of Loan||Up to Rs 10 Lakh|
|Repayment Period||15 Years After Getting Job|
Features of Student Credit Card Scheme West Bengal PDF
- The chief minister of West Bengal Mamata Banerjee has launched West Bengal Student Credit Card Scheme
- Through this Scheme, students will be provided educational loans up to Rs 10 lakh for higher studies
- The decision to launch this scheme was taken in a state cabinet meeting which was held on 24 June 2021
- Students studying in class 10th or above will be able to take benefit of this scheme
- The loan provided through this scheme will be available at a very low rate of interest
- In order to get the number of loans students will be provided a credit card
- Through this credit card, students can withdraw the amount of loan
- All those students who are living in West Bengal for the last 10 years can take benefit of this scheme
- West Bengal Student Credit Card can also be availed for undergraduate, postgraduate, doctoral, and postdoctoral studies in India or abroad
- This scene was a part of the election manifesto of Trinamool Congress
- The benefit of this scheme can avail till 40 years of age
- After getting job students to have to repay the amount of the loan within a period of 15 years
Purpose of Scheme
Under this scheme the Credit Card may be used to avail loan to meet up the following expenses: –
- Course fees payable to the School/ Madrasah/ College/ University / Professional Institutes like IITs,
IIMs, IIESTs, ISIs, NLUs, AIIMSs, NITs, XLRI, IISCs, BITS, SPA, NID, IIFTs, ICFAI Business
School etc. various competitive coaching institutes meant for different competitive examinations like
Engineering/Medical/Law, IAS, IPS, WBCS, SSC etc.
- Fees required for accommodation in School/ Madrasah/ College/ University/ Institution hostel or rent/
license fees payable for living outside the hostel or fees required for living as a Paying Guest.
- Fees payable for caution deposit/ building fund / refundable deposit/ examination/ library/ laboratory
fees to be supported by Institution’s bills/ receipts.
- Cost of purchasing of books/ Computer/ Lap-top/ Tablet/ equipments etc.
- Any other expense required to complete the course such as study tours, project works, thesis, etc.
- The student can incur expenditure up to 30% of the total loan sanctioned for non-institutional expenses
for the whole course of study.
- Up to 20% of the total loan sanctioned can be used as living expenses for the duration of the course.
Eligibility Criteria for Student Credit Card Scheme West Bengal
- The applicant must be a permanent resident of West Bengal
- Applicant must be living in West Bengal for a period of at least 10 years
- The upper age limit to apply for this scheme is 40 years
Required Documents for West Bengal Students Credit Card Application Form
- Aadhar card
- Residence certificate
- Age proof
- Ration card
- Income certificate
- Bank account details
- Mobile number
- Passport size photograph
Quantum of Loan and Documentation
- The maximum amount of loan available under the Scheme is Rs. 10.00 lakhs at 4% simple rate of interest per
annum, after interest subvention.
- For the entire amount of loan sanctioned up to Rs.10.00 Lakh, rate of interest to be charged at prevalent 3-
year MCLR of State Bank of India Plus 1%. The Rate of Interest so fixed on the date of sanction will
remain fixed and calculated at a simple rate for the entire duration of the loan.
- A student can avail loan under this scheme at any time during the course of study.
- The bank concerned shall upload the details of the loan to the Department’s portal immediately after disbursement of the loan and such detail shall be updated by the Bank from time to time.
- The loan application should be submitted by the student and the parent/ legal guardian as co-borrower.
- Students and Parents/ Legal Guardians will enter into an agreement with the bank.
Margin Money Under Student Credit Card Scheme West Bengal PDF
(a) Up to Rs. 4.00 Lakhs: NIL
(b) Above Rs. 4.00 Lakhs: 5%
(c) Scholarship/ Assistance ship to be included in Margin.
(d) Margin will be brought in one year to year basis as and when disbursements are made on a pro-rata basis in
(a) While sanctioning the loan, the Bank should not put any unnecessary restrictions or conditions regarding
collateral security etc.
(b) The Banks will not insist on any security /collateral security in tangible/ intangible form other than coobligation of the parents/ Legal guardians. The State Government will enter into an agreement with the banks
separately in this regard.
West Bengal Student Credit Card Scheme Apply/Registration Online
Below we have provided West Bengal Student Credit Card Scheme Registration/Apply Online procedure step by step.
- Visit the West Bengal government’s official website https://wb.gov.in/
- On the homepage, you will see a Student’s Registration link as the image is shown below.
- Now you have to mention basic details, Present Course of study, contact details of the student, and also mention the password for this site then click on the “Registration” button to register for Student Credit Card Scheme West Bengal as image shown below.
- Submit and your registration details will be shown below
- Next, apply for Student Credit Card Scheme and complete the procedure and download a copy for future reference
Here you can download the Student Credit Card Scheme West Bengal PDF in English by click on the link given below.