West Bengal Student Credit Card Review

By | June 3, 2021
West Bengal Student Credit Card

West Bengal Cabinet​ have approved the West Bengal Student Credit Card promised in the TMC poll manifesto. This credit card will be given to all eligible students to pursue higher education.

According to the Credit card scheme, West Bengal Student Credit Card will have a limit of  Rs 10 lakh with an interest rate of only 4 % with easy repayment options so that students can easily re-pay the Loan on the credit card. Here is everything you should know about student credit card west Bengal government

What is the need for West Bengal Student Credit Card?

The gross enrolment ratio in higher education in West Bengal was 18.71% in 2017-18 as against the national average of 25.8%, with the ratio among women in the state even lower, at 17.6%. The main reason for not pursuing higher in West Bengal not having financial resources along with other restrictions.

Through the West Bengal Student Credit Card scheme, the government intends to boost the gross enrolment ratio to 25.8% or more in the coming 5 years.

On 25th May 2021, West Bengal Cabinet​ has approved the West Bengal Student Credit Card and have directed concerned ministries to formulate the Rules and implementation guidelines for the same. I have estimated the Rule and regulations after getting some information and with my experience. Below will be the Rules and regulations as per my experience.


Below Eligibility should be fine if we compared to the other State student credit card. You have at least below mention Eligibility.

Residential Eligibility

  • You should be an Indian national to be eligible for the scheme.
  • Your residential status should be in West Bengal.
  • Your age should be above 18 years or more.
  • You must have passed 12th or equivalent from Institutions recognized by the West Bengal Exam Committee, i.e., West Bengal Board of Secondary Education or Equivalent boards.
  • All the above Educational Institutes need to be situated in West Bengal.

Education Eligibility

  • If you are a degree holder of one level, you will not be covered for the same group’s degree under this scheme.
  • For Example, If you are currently studying science graduate, you are not eligible for graduate-level courses for studying again in any other Faculty of Arts, Science, and Commerce.
  • However, you are eligible for pursuing higher education under courses like MBA, CA, or other courses.
  • You already have enrolled or selected for enrolment for pursuing higher education in the educational institutions recognized by agencies of Bihar Govt. or another state Govts. Or the Central Govt.

Financial Eligibility

  • Your CIBIL Score will decide the fate of the West Bengal Student Credit Card.
  • IF your CIBIL Score is 700 or more, then the Bank Branch manager will sanction the card and limit; otherwise, the next higher authority will approve the same.

Documents Required

Here is the list of all the document required for West Bengal Student Credit Card.

  • Filed Application from.
  • Approved Course Structures
  • Fees Schedules
  • 2 passport Size Photo
  • Mark sheets of 10th and 12th standard
  • The Document for enrolled or selected for enrolment for pursuing higher education
  • Documents for proof of Address
  • Identity proof such as an Aadhaar card and PAN card, a copy of a Passport.
  • Bank account statements for Six months.
  • Other documents like family income certificate along with Form 16.

Features & benefits of West Bengal Student Credit Card.

  • You can get a loan amount of up to Rs.10 lakh.
  • Interest rate as low as 4% for all eligible students.
  • The government, in extreme cases, may entirely waive off the outstanding balance.
  • Credit card repayment begins once the course is complete and you secure a job.

What expenses will be covered in the Student Credit card Loan?

Below are the Fees and Expenses that may be covered with a Student Credit Card loan.
(1)Fee payable to the college, and hostel
(2) Examination, Library and Laboratory fee
(3)Caution deposit, Building fund refundable deposit supported by Institution bills/receipts.
(4)Purchase of books/ equipment / instruments / uniforms
(5)Purchase of computer at a reasonable cost, if required for completion of the course
(6)Any other expense required to complete the course – like study tours, project work, thesis, etc.
While computing the loan required, scholarships, fee waivers, etc., if any available to the student borrower may be taken into account. If the scholarship component is included in the loan assessment, it may be ensured that the scholarship amount gets credited to the loan account when received from the Government.

How to Apply for student credit card west Bengal

Wait for the Rules and Regulation and application procedures from State Government. Concerned department shall issues detailed guidelines form application and approval process.

What do you think about West Bengal Student Credit Card ??, share your take on it in the comment box below.

West Bengal Student Credit Card Review

Dhiraj Jha

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Author: Dhiraj Jha

I love to acquire, review, and earn reward points/cashback from Credit Cards for free traveling and enjoying luxury hotels. Helping people about the benefits and optimal utilization of credit cards.

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