West Bengal Student Credit Card Scheme | WBSCCS Scheme | WB Student Credit Card Scheme | West Bengal Student Credit Card Application process
On 30th June 2021, the WBSCC or West Bengal Student Credit Card Scheme was launched. Through this scheme, students of class 10th or Higher can get the benefit of the “Student Credit Card Scheme” and avail of loans up to Rs.10 lakh for Higher Studies within the State, Other States, or Abroad. The most interesting point is that students do not need to provide any guarantor to avail of this loan and interest is only 4% simple interest per annum.
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Interested and eligible aspirants can get the benefit of this scheme up to the age of 40 Years only and loan repayment time is 15 years after getting the job. The Student Credit Card Scheme is designed to support students pursuing secondary, higher secondary, undergraduate, and postgraduate studies. These include any school, madrasa, college, university, or other affiliated institutes in and outside India.
Also, students, who are, studying in various coaching institutions can avail themselves of a loan to appear in competitive examinations such as engineering, medical, law, and civil services examinations.
West Bengal Student Credit Card Scheme
Under this scheme nationalized and cooperative banks will provide loans for higher studies and diploma courses at an interest rate of 4% per annum. This interest rate will reduce if repayment is made within the study period. The Government is going to spend Rs 1355 crores to provide loans to these 25847 students.
Overview of the scheme
|Name Of The Scheme
|West Bengal Student Credit Card
|Announced and Launched
|Government Of West Bengal
|24th June 2021
|Beneficiary of Scheme
|A resident of West Bengal (All those students who have been living in West Bengal for the last 10 years are eligible for this scheme)
|18 to 40 years.
|To Provide Loans For Higher Education
|30th June 2021
|Amount Of Loan
|Up to Rs 10 Lakh
|Maximum Amount in Margin
|Up to Rs. 4.00 Lakhs: NILL
Above Rs. 4.00 Lakhs: 5%Scholarship to be included in Margin.
|The repayment period shall be 15 years for any loan availed under this Credit Card including the Moratorium/ repayment. You can pay the loan amount before the completion of time, there will be a penalty for that amount 1% interest concession will be provided to the borrower if the interest is fully serviced during the study period. The student or the co-borrower shall be liable to repay the loan on time as 1st charge.
|4% simple rate of interest per annum, after interest subvention.
|Mode of Disbursement
|The amount of the loan will deposit directly to the account of the Institution concerned in case of payment of course fees and other fees related to the Institution. The amount of the loan will send the student’s Bank account for purchasing of Computer/ Laptop or any other expenses.
|The amount of the loan will deposit directly to the account of the Institution concerned in case of payment of course fees and other fees related to the Institution. The amount of the loan will send to the student’s Bank account for purchasing of Computer/ Laptop or any other expenses.
Objectives of the scheme
The main objective of the West Bengal Student Credit Card is to provide loans to needy students for their higher education. This scheme will also reduce the unemployment rate among the citizens of West Bengal as now more students will be able to get an education and employment.
Eligibility Criteria for West Bengal Student Credit Card
- The “Student Credit Card Yojana,” which West Bengal State launched, is only available to students.
- Students enrolled in courses above the tenth grade are eligible to apply for loans.
- For this scheme, the upper Age Limit is 40 Years.
- The applicant must be a permanent resident of West Bengal State.
- To prepare for national-level competitive exams like IPS, WBPSC, IAS, IITs, IIMs, etc., loans will given.
- A student can repay their loan amount, 15 Years after getting a job.
- The only uses for this loan are for higher education, not other commercial uses.
Benefits of the Student Credit Card Scheme
- The chief minister of West Bengal Mamata Banerjee has launched the West Bengal Student Credit Card Scheme
- According to the reports, students will receive up to Rs 10 lakh in educational loans for further study.
- To get the number of loans students will be provided a credit card, through this card they can withdraw the loan amount
- The provided loan will be available at a very low rate of interest
- For undergraduate, graduate, doctoral, and postdoctoral studies in India or elsewhere, this credit card is also available.
Document required applying for Student Credit card
- Color Photograph of Application
- Color Photograph of the Co-applicant / Co-borrower
- Signature of Student
- Co-borrower / Guardian’s Signature
- Student Aadhar Card
- Student Class 10th Registration Certificate
- Guardian’s Address Proof
- Admission Receipt
- Student Pan Card/undertaking without Pan card
- Guardians Pan Card/undertaking without pan card
- Relevant Page of the Brochure/document detaining course fee/tuition fee
How to Apply Online for a Student Credit Card
- Visit https://wbscc.wb.gov.in/
- Click on the Student Credit Card Tab on the page to generate the user ID and password then click the Register button.
- Fill out the application form completely with the correct credentials, Following that, you must establish a password for the same. Passwords should be difficult to guess and involve at least one upper case alphabet, one lower case alphabet, one numerical character, and one unique character.
- After completing the registration process, a unique ID will built and sent to your e-mail address. DON’T FORGET to keep the UNIQUE ID for future reference.
- Click the Login Button and enter the User ID and password and validation of the USER ID Application form will be available.
- Fill in the application form with all of the essential information
- Upload all scanned documents following the instructions provided above bank information, applicant photo, etc… 10th Standard Document and Admission Receipt.
- After completing dual verification, click the Submit button.
- Data is sent to the HOI upon the submission of the form, the HOI will transmit the application data to the HED.
- Your application dashboard will reflect that HED has forwarded your application to the bank if HED approves the application.
How to track student credit card application
- Visit the official website of the scheme- https://wbscc.wb.gov.in/
- The home page will open before you, click on Student Login
- Now you have to enter your applicant ID, and password in the captcha code
- After that, you have to click on Login
- Now you have to click on the Track application
- After that, you have to enter your applicant ID and click on Search
- Required information will be on your computer screen
West Bengal Student Credit Card Loan Sansation Process
- Visit the official website of the West Bengal student credit card scheme- https://wbscc.wb.gov.in/
- On the homepage, click on administration login (Only for official users).
- After selecting your user type, enter your user ID, password, and captcha code and click on login
- A dashboard will appear before you
- Now you have to click on the application pending option
- A new page will open containing all the pending applications on the MS Excel sheet.
- To download, click on the download Excel button
- To view this application, you have to click on the view icon
- A new page will appear and you can download the following documents from this page:-
- Pan and Aadhar of the applicant
- Pan address proof of the co-borrower
- Course fee details
- Proof of admission of the applicant
- Click on the application pending menu, after that click on sanction loan
- By applying on loan sanction or loan reject button respectively, you can either sanction a loan or reject the loan
If the loan is sanctioned
- If the loan is sanctioned then a new page will appear and you need to enter the sanctioned amount in numeric and words
- Next, upload a copy of the sanction letter and click on submit
If the loan is rejected
- If the loan is rejected click on the reject loan option
- Now we have to select the rejection cause from the drop-down menu
- After that give a benchmark for parameters in birds as per your bank norms
- After that you have to click on submit
- Helpline Number- 18001028014
- Email Id- email@example.com, firstname.lastname@example.org
The student must arrange the necessary documents such as Birth Certificate, Residence Proof, Student ID Card, Pan Card, Aadhar Card, Photograph, etc.
WBSCC’s Official website is https://wbscc.wb.gov.in
Students who are residents of West Bengal State and passed 10th or above class. And willing to study for Higher Education can avail of the Student Credit Card Yojana offered by West Bengal Government.
Student Credit Card Scheme West Bengal: Students can avail of a loan of up to Rs.10 Lakh for Higher Studies within West Bengal State, Other States, or Abroad.
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