West Bengal Student Credit Card Scheme

Description
This scheme is designed to support the students to pursue secondary, higher secondary, madrasah, undergraduate and post graduate studies including professional degree and other equivalent courses in any School, Madrasah, College, University and other affiliated institutes within and outside India. Students studying in various coaching institutions for appearing in different competitive examinations like Engineering, Medical, Law, IAS, IPS, WBCS etc, can also avail the loan under this scheme.

Benefits
• Points
• The Scheme provides a maximum loan of ₹10,00,000/- at a 4% simple annual interest rate after interest subvention.
• 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.
• Students can access the loan at any point during their course of study.
• Both the student and the parent/legal guardian must co-submit the loan application.
• An agreement between the student, parents/legal guardians, and the bank will formalize the loan terms.
• Margin money:
• Up to ₹4,00,000/-: Nil
• Above ₹4,00,000/-: 5%
• Scholarships/assistance ships included
• Paid pro-rata as disbursements are made
• Security:
• No unnecessary restrictions or collateral security
• No security/collateral other than co-obligation of parents/legal guardians
• State government to enter separate agreement with banks
• Insurance:
• Life cover for student up to loan amount
• Premium paid by student and debited from loan account
• Time limits:
• 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 Criteria
1. Indian citizen & resident of West Bengal for 10 years (self-declaration).
2. Applicant should not be aged more than 40 years at application time.
3. 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.
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5. **Note:** Students upload progress reports after each semester/year.

Application Process
Step 1: 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
Provide the require details for online registration process and click on “Submi…
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
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.”
Submit.

Required Documents
• 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).

Frequently Asked Questions
Q: What is the key benefit of this scheme?
A: A maximum amount of [?]10,000,00/- loan can be availed at 4% simple rate of interest per annum, after interest subvention.

Q: Where will the fund meant for Institutional payment be received?
A: Amount of loan to meet the expenses for course fee including tution fee and any other amount payable to the Institution will be remitted directly to the bank account of the concerned institution.

Q: Where will the fund meant for non-institutional expenses including living cost for pursuing the course be received?
A: Amount of loan to meet the expenses for meeting the non-institutional expenses including living cost will be remitted to the registered bank account of the student.

Q: Is there any age limit to apply for Student’s Credit Card Scheme?
A: Yes, the applying student should not be aged more than 40 (forty)years at the time of applying for loan.

Q: Are students enrolled in integrated courses of recognized institutions eligible to apply?
A: Yes, students enrolled in integrated UG/PG courses are eligible to apply under Student Credit Card(SCC) scheme.

Q: Are the Research Scholars/Research Associates/Post doctoral research students eligible to apply for Student Credit Card(SCC) scheme?
A: Yes, research scholars or research associates or a student pursuing post-doctoral research studies are eligible to apply for Student Credit Card(SCC) scheme.

Q: Can the student apply anytime during the tenure of the course?
A: Yes, students can apply anytime during the tenure of the course

Q: How to apply for this scheme?
A: Visit www.wb.gov.in or https://banglaruchchashiksha.wb.gov.in and click on "STUDENT CREDIT CARD" tab or Log in to https://wbscc.wb.gov.in

Q: Whether the Photograph in Black & White is acceptable for applying online under the Scheme?
A: Only color photograph is required to be uploaded.

Q: Can student get the loan only for the Indian Institutes ?
A: No, Student can get the loan also for Institutions Outside India.