West Bengal Student Credit Card Scheme
State: West Bengal
Ministry: null
Department: Higher Education Department
Category: Education & Learning
Beneficiary Type: Individual

The Higher Education Department, Government of West Bengal has introduced the Student Credit Card Scheme for the students of West Bengal to enable them to pursue higher education without having any financial constraints.

Benefits:
**Points**

1. The Scheme provides a maximum loan of ₹10,00,000/- at a 4% simple annual interest rate after interest subvention.
1. The interest rate for loans up to ₹10,00,000/- is set at the prevailing 3-year MCLR of State Bank of India plus 1%, fixed at the time of sanction.
1. Students can access the loan at any point during their course of study.
1. Both the student and the parent/legal guardian must co-submit the loan application.
1. An agreement between the student, parents/legal guardians, and the bank will formalize the loan terms.

**Margin money:**

1. Up to ₹4,00,000/-: Nil
1. Above ₹4,00,000/-: 5%
1. Scholarships/assistance ships included
1. Paid pro-rata as disbursements are made

**Security**:

1. No unnecessary restrictions or collateral security
1. No security/collateral other than co-obligation of parents/legal guardians
1. State government to enter separate agreement with banks

**Insurance:**

1. Life cover for student up to loan amount
1. Premium paid by student and debited from loan account

**Time limits:**

1.  The Higher Education Department and the School Education Department will communicate on loan sanctioning and disbursement process timeline after receiving approval from the competent authority.

Eligibility:
1. Indian citizen &amp; resident of West Bengal for 10 years (self-declaration).
1. Applicant should not be aged more than 40 years at application time.
1. Applicant should enrolled in higher education programs within or outside the country in schools, madrasahs, colleges, universities, IITs, IIMs, IISc, IIESTs, ISIs, NLUs, AIIMSs, NITs, XLRI, BITS, SPA, NID, IIFTs, ICFAI Business School, etc. or studying in coaching institutes for various competitive exams such as Engineering, Medical, Law, IAS, IPS, WBCS, SSC, etc.

<br>

**Note:** Students upload progress reports after each semester/year.

Application Process:
[Online]
Applicant have to visit the official website and click on "STUDENT CREDIT CARD"
Now Click on “STUDENT REGISTRATION” option and select the one option from the following
For institutions in India.
For institutions outside India.
Provide the require details for online registration process and click on “Submit” button to generate user id and password. 
After completion of the registration process a unique id will be generated.
Now with the credentials need to log in through clicking on “Student Login” button from the home page
Here the candidate need to furnish their all details which can be accessed through the “Applicant Dashboard.”
Personal Details
Co-Borrower And Present Address Details
Permanent Address And Course & Income Details
Bank Details Of Students And Co-Borrower
Upload the required documents.
Submit.

Documents Required:
Colored Photograph of the applicant (should be in.jpeg / .jpg between 50 KB and 20 KB).
Colored Photograph of the co-applicant /coborrower (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).
Age Proof of the Applicant (should be in .pdf format between 400 KB and 50 KB).
Address Proof of Co-applicant / Co-borrower (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).
Prospectus/Certificate (from the competent authority of the institution) wherein charges like Admission Fee, Examination Fee, Hostel Charges etc. are mentioned (should be in .pdf format between 400 KB and 50 KB).
Marksheet/Certificate of Last Qualifying Exam of applicant (should be in .pdf format between 400 KB and 50 KB).