On June 30 2021, West Bengal CM Mamta Banerjee announced a new scheme for the benefit of students of the state. The scheme has been named the WB Student Credit Card Scheme, and it is exclusively designed to provide financial assistance to students living in the state of West Bengal.
The scheme has been available since its announcement and will be implemented by the Department of Higher Education, WB Government. Under the scheme, the government has announced financial support through loans up to Rs.10 lakhs at an interest rate of 4% per annum to students who cannot pursue higher education or coaching for the competitive exams due to financial constraints. The assistance is provided to students residing in WB for the last ten years so that they can pursue higher education.
WB Student Credit Card Scheme
Loan to candidates under this scheme is provided by the DCCB (District Central Cooperative Banks), SCB (State Cooperative Banks) & its CCBs (Central Cooperative Banks), and Public Sector/ Private Sector Banks operating in the State of West Bengal. Financial support to beneficiaries is provided by the State Cooperative Banks and affiliated Central Cooperative Banks (CCB), Public Sector or Private Sector Banks, and District Central Cooperative Banks operating in West Bengal.
As the scheme is new, most candidates are unaware of it. To get details of this scheme, West Bengal students can check this article, as here we have provided all the information, such as the scheme’s objective, registration process, eligibility details, documents required, benefits, etc.
WB Student Credit Card Scheme: Quick Overview
|Name of the scheme||Student Credit Card Scheme|
|Concerned Authority||Department of Higher Education, Government of West Bengal|
|Date of launch||30th June 2021|
|Benefit||Loan of upto ten lakhs at a low interest rate|
|Beneficiary||Students of West Bengal|
|Mode of disbursement||Direct Bank Transfer (DBT)|
|Repayment Period||15 years|
Features and Key Points of the WB Student Credit Card Scheme
- WB Student Credit Card Scheme is only applicable to West Bengal students.
- Beneficiary students are allotted a maximum loan of 10 lakhs at 4% annual interest. The rate of interest fixed at the time of loan sanction will remain the same throughout the loan duration.
- The students can utilize the loan amount to pay fees, living expenses, accommodation at the institute, buying study material/laptop/tablet, etc., project works, and study tours.
- This scheme is implemented in both Government and private education and coaching institutes.
- To avail of the benefit of the loan under this scheme, students must fulfil the eligibility requirements and fill out an application form.
- The student can avail the loan at any time during the course.
- The State Department of Higher Education carries out the implementation and application work for this scheme.
- The applications received by the department are forwarded to the banks for loan sanction.
- The bank issues students a credit card for availing of the benefit of the loan.
- Students must submit statements or progress reports on completing each annual/ semester exam.
- Disbursement of loans will be done through direct bank transfer to the student’s bank account.
Eligibility Criteria for WB Student Credit Card Scheme
WB SCCS benefits will be provided only to eligible candidates. Before application, students must check the eligibility requirements. The eligibility details are as follows:-
- Applicants must be residing in West Bengal for the last ten years.
- Students must have enrolled themselves in any of the specified higher studies programs. Students enrolled in any of the following coaching programs- IITs, NITs, NLUs, AIIMS, IIFTs, etc, are also enrolled.
- The maximum age of the applicant at the time of application should not be more than 40 years.
Documents Required for Registration
WB Student Credit Card applicants are required to upload the following documents-
- Applicant’s photograph
- Photograph of the Co-borrower/ Co-applicant
- Signature of the student
- The aadhaar card of the student
- Student’s class 10th registration certificate (If no Aadhaar card is there)
- The PAN card of the Student
- Address proof of the Co-borrower
- PAN card of Co-Borrower
- Admission receipt of the institute where the candidate is enrolled
How to Register for the WB Student Credit Card Scheme?
- Visit the official portal of WBSCC.
- Click on the “Student Registration link” given on the Menu bar.
- The registration form will open. Fill in all the registration details and click the “register” button.
- After successful registration, a unique registration ID and password will be generated. Keep this ID safe for further processing.
- Now, click on the “Student Login” tab.
- Enter the application ID and password generated at the time of registration.
- The application form will open. Fill in applicant details and co-borrower details carefully.
- Upload the required documents in the prescribed format.
- Submit the application.
- The application details and status will be shown on the candidate’s dashboard.
Public Grievance Redressal System
Students having any grievances or complaints regarding the WB Student Credit Card scheme can contact:-
Toll-Free No.- 1800 102 8014
What is the repayment period of the loan?
Beneficiaries repay the loan amount along with the interest within 15 years.
Can a student enrolled in a private coaching institute apply for the WB Student Credit Card scheme?
Yes, as the scheme is for both government and private students, a student enrolled in a private institute is eligible to apply.
Do students have to provide any security to the bank when sanctioning a loan?
No, banks will not put such restrictions on students.
If a student cannot repay the loan amount within the stipulated time, will there be any penalty charged by the bank?
No, the bank will not charge any penalty in such a case.
What if a student does not have an Aadhaar card?
If a student does not have an Aadhaar card, then he/she can upload their class 10th registration certificate instead.