Grants and scholarships for higher education is a struggle that every student with financial constraints has faced in their lives. Not only are they restrictive due to the overall money factor, but they are also restrictive because many students don’t want to move ahead and ask banks for loans because of their economic condition.
To address this issue, the West Bengal government has issued the WB Student credit card scheme wherein the sanctioned and approved students will get up to 10 lakhs credit limit on the card to spend on their higher education.
This article will discuss all the information there is to know about the WB Student Credit Card scheme and how you can apply for the same.
What is the WB Student Credit Card Scheme?
The West Bengal Student Credit Card scheme was introduced by the West Bengal government in June 2021 to help finance students’ higher education. With this credit card, the students get access to up to 10 lakhs credit limit per annum with a nominal 4% annual interest. The scheme was introduced by Chief Minister, Mamata Banerjee.
The scheme allows the students to avail themselves of the benefits for their higher education in West Bengal, other Indian states or even abroad.
The students won’t need any guarantor for this loan or credit amount and can return the loan amount within 15 years after getting the job. However, only the residents of West Bengal can avail of this loan.
What are the eligibility criteria for the WB Student Credit Card?
Since the WB Student credit offers a large sum of load with no guarantor, there are some strict eligibility criteria that the applicants have to meet up to get the benefits. Some of the most important ones for the same include:
- Only students can apply for the scheme and it can be used for educational purposes only
- The loan amount will be sanctioned for students who have passed their 10th standard and the maximum upper age limit is 40 years.
- The applicant must be a domicile of West Bengal
- The applicant must have lived in West Bengal for at least 10 years
- The loan amount can be used for the preparation of competitive examinations.
- The loan amount has to be returned with interest within 15 years term after getting a job.
- The loan is only usable for higher education purposes.
What is the documentation required for WB Student Credit Card?
Besides the eligibility criteria, the applicants also have to follow through with some of the important documentation involved in the process for verification. Some of them include:
- Color photograph of the applicant
- Color photograph or the co-applicant
- Student signature
- Guardian or co-borrowers signature
- Aadhar card
- Class 10 registration certificate
- Residence proof
- Student PAN card or undertaking
- Guardian’s PAN card or undertaking
- The relevant page of the college or university brochure
How to Apply for the WB Student Credit Card Scheme?
If you tick off all the important eligibility criteria and you have all the documents sorted out for the process of online application, let us, deep-dive, into the application process itself.
Following are the steps involved in the online application procedure:
- Start by opening your browser and then navigate to https://wbscc.wb.gov.in./Once you are on the home page, click on the Student Registration tab. You will find the online application option under that.
- In the application, the students have to mention their details and fill in all the information that is asked. Pair this will the documentation that the website asks for as well.
- Once done, you can check all the details again and then click on Register.
- Once the registration is done, you need to use the login ID and password and then fill out the application for the scheme with all the details and documentation asked.
- Once you are done with the application process, you must take a printout for future reference.
If your application is approved and sanctioned by the West Bengal government, you will receive the required reminder or notification for the same on your email ID or your registered mobile number.
Is the WB Student Credit Card safe?
Yes, the scheme is completely legit and safe for the applicants; if that is something you are worried about. Keep in mind that the sanctioned maximum limit for the credit card is 10 lakh rupees. This means that the students won’t get to cross their credit limit.
Once the credit limit is maxed out, the students will then have to complete their studies and then after getting the job, they can pay everything within 15 years at a 4% interest rate.
If you are considering applying for the WB Student credit card scheme, we’d highly recommend that you follow along with the steps we have sorted out in this article. Also, if possible, have all the documentation sorted out before you sit down to fill in the online application.
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