New Student Credit Card Scheme for all student in West Bengal

Do you need a financial assistant for higher study? then here is the right place to apply for a credit card for west Bengal students. All students are equally important in west Bengal.

Applicability:- Student credit card scheme applicable from 30th June'2021 onwards

1. All the students of Secondary, Higher secondary, madrasah, undergraduate, and postgraduate courses from all recognized school, board university

2. Students of professional degree and other equivalent courses in any College, University, and other affiliated institutes within and outside India

3. Students studying in various coaching institutions for appearing in different competitive examinations like Engineering, Medical, Law, IAS, IPS, WBCS, etc.

Amount of Loan and interest:

A student from West Bengal residing at least 10 years in West Bengal can obtain a maximum loan up to Rs.10 lakhs @ 4% per annum simple interest. The amount can be utilized for payment of Course fees, accommodation/hostel charges, paying the guest costs, purchase of books, computers, equipment, etc. Various deposits with the educational institutes, study tours, project works, thesis, etc.

Non-institutional expenses should be within 30% of the total loan and living expenses within 20% of the total loan.

From where the loan will be available:

The scheme is introduced by the higher education department, govt. of West Bengal, Salt Lake, Kolkata.

Email: contactwbscc@gmail.com Toll-free phone number: 1800-102-8014
the website address for govt. portal: https://wbscc.wb.gov.in/
weblink for online application for loan: https://wbscc.wb.gov.in/Applicant_Login

After sanction of loan, the amount disbursed through the following Banks as per your recommendation given in the application form:

State Cooperative Bank and its affiliated Central Cooperative Banks and District Central Cooperative Banks

All Public/ Private Sector Banks.

(1% interest concession will be provided to the borrower if the interest is fully serviced during the study period) .

Maximum age limit of the students:

The upper age limit for the interested students has been kept as 40(forty) years at the time of applying for a loan.

The repayment schedule of the loan:

The repayment period shall be fifteen (15) years for the loan availed under this Credit Card scheme after getting a Job.

Loan Guarantor:

West Bengal govt is the guarantor, hence need not required any guarantor for applying for a loan.

Procedure to be followed:

To avail of the benefit, you have to register yourself with the website online and after completion of the registration process, a unique ID will be generated which will be sent to your mobile number, which will be used as a User ID for submission of the Application and also for all other future purposes.

After registration, you have to complete the application and others forms online and upload the required documents and submit them.

After successful submission, you will be able to see the status of the application.

Please keep the following documents ready with you before registration:-

Color Photograph of the applicant (should be in jpeg/jpg between 50 KB and 20 KB)
Color Photograph of the co-applicant / co-borrower (should be in jpeg/jpg format, between 50 KB and 20 KB)
Signature of the student (should be in jpeg/jpg format, between 50 KB and 10 KB)
Co-borrower / Guardian's signature (should be in jpeg/jpg, format, between 50 KB and 10 KB)
Student's AADHAR Card (should be in pdf format, between 400 KB and 50 KB)
Student's Class 10th Board registration certificate (if no AADHAR card) (should be in pdf format between 400 KB and 50 KB)
Guardian's Address Proof (should be in pdf format between 400 KB and 50 KB)
Admission Receipt (should be in pdf between 400 KB and 50 KB)
Student's PAN Card/undertaking if there is no PAN Card (should be in pdf format between 400 KB and 50 KB)
Guardian's PAN Card/undertaking if there is no PAN Card (should be in pdf format between 400 KB and 50 KB)
The relevant page of the brochure/document detailing course fee/tuition fee (should be in pdf format between 400 KB and 50 KB).

Important points to be noted:

Admission receipt is to be uploaded while applying. Suppose you are studying in Class XII and propose to study management in the future, you cannot apply for a loan of management courses, you can apply for a loan considering the present course fee of Class XII only.

For future courses, you have to apply for a fresh credit card after admission to that particular course.

Similarly, the students cannot apply for credit card loans considering their course fee of the regular institute as well as the coaching institute fee clubbed.

The loan cannot be applied for the course fees or admission fees etc. which have already been paid to the institution.

Fees to be paid in the future for the running course only are to be mentioned. There is no reimbursement system under this scheme.

Conclusion

Under the scheme, all the students can avail the facility for their study without any financial constraint. The initiative is highly appreciable. So every student residing in West Bengal can avail of this facility without any bar for the purpose of their higher study.

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