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Home >Education >News >West Bengal's Student Credit Card scheme launched: Check loan amount, interest rate, other details

The West Bengal government launched Student Credit Card today. With the help of the credit card, a student can get a soft loan of up to 10 lakh to pursue higher studies.

About the student credit card, West Bengal chief minister Mamata Banerjee said, I am delighted to announce that Govt of West Bengal has launched the Student Credit Card today. To make the youth of Bengal self-reliant, the Scheme shall provide a loan of up to 10 Lakh with an annual simple interest.

The scheme was approved by the West Bengal Cabinet last week, which the Trinamool Congress had promised in its election manifesto.

Banerjee had told reporters on Thursday, "Today, the Cabinet gave its nod to the Student Credit Card scheme. Anyone who has spent 10 years in West Bengal can avail the benefits of it. Loan will be available for undergraduate, postgraduate, doctoral and post-doctoral study in India or abroad."

All that you need to know about the scheme

  • According to the credit card scheme, it will have a credit limit of 10 lakh with an interest rate of only 4 per cent and easy repayment options so that students do not have to depend on their parents to pursue higher studies.
  • Anyone who has spent 10 years in West Bengal can avail the benefits of it.
  • Loan will be available for undergraduate, postgraduate, doctoral and post-doctoral study in India or abroad
  • Anyone is eligible for the scheme till 40 years of age.
  • Fifteen years will be given to a student to repay the loan after getting a job, the chief minister had said.

(With inputs from agencies)

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