Under the Bihar Student Credit Card Scheme (BSCCY), students will be given interest-free education loan. General students will get a maximum loan of ₹4 lakh and women, Divyang and transgender students will get loan on very easy terms.
New Credit Card: The Bihar government has approved the third installment of Rs 300 crore to provide higher education to the youth. With this, the total budget of Bihar Student Credit Card Scheme (BSCCY) has now become Rs 900 crore. This amount has been given to Bihar State Education Finance Corporation Limited (BSEFC), Patna so that students who want to take loan for studies can get education loan on time and easily. The government wants that the studies of any student should not stop due to lack of money, so a large fund has been released for the Student Credit Card Scheme.
Key features of Bihar Student Credit Card Scheme (BSCCY) Scheme:
- If you are eligible for this scheme, then you can take an education loan of up to ₹ 4 lakh at a low interest rate of 4% per annum.
- The interest rate for female, disabled and transgender students is just 1%.
- The repayment of the loan starts one year after the completion of the course or six months after getting a job – whichever is earlier.
- Loans up to Rs 2 lakh can be repaid in a maximum of 60 installments, while loans above Rs 2 lakh have to be repaid in 84 installments.
- An additional interest discount of 0.25% is provided on early payment.
Nitish Kumar tweeted and gave information
Nitish Kumar tweeted that under the 07 Nischay Yojana in Bihar, Bihar Student Credit Card Scheme is applicable from 02 October 2016 for the students who have passed 12th class and want to pursue higher education. Under the Bihar Student Credit Card Scheme, a maximum education loan of Rs 04 lakh for pursuing higher education is given to the general applicant at 04 percent interest rate and to women, disabled and transgender applicants at only 01 percent interest rate. I am very happy to inform that now the amount of education loan given under the Student Credit Card Scheme will be interest free for all applicants.
Along with this, there was a provision to repay the education loan up to Rs 02 lakh in 60 monthly installments (05 years), which has now been increased to a maximum of 84 monthly installments (07 years) and the loan amount above 02 lakh has been increased from 84 monthly (07 years) installments to a maximum of 120 monthly (10 years) installments. Our aim is that more and more students of the state can get higher education. These facilities given in the education loan provided for higher education will increase the morale of the students and they will be able to get higher education with more enthusiasm and dedication and will be able to shape their future as well as the future of the state and the country.
Features of the scheme
- Education loan up to a maximum of ₹ 4 lakh
- Interest rate for general students is 4%, while for women, Divyang and transgender students it is only 1%.
- Now all applicants will get interest-free loan.
Repayment period extended:
- Up to ₹2 lakh – 60 to 84 installments (7 years)
- Above ₹2 lakh – 84 to 120 installments (10 years)
- Loan repayment period will start 1 year after completion of course or 6 months after getting a job.
- An additional 0.25% discount will be given on timely repayment.
Check here who can apply
- The applicant must be a permanent resident of Bihar and must have passed 12th class or equivalent.
- The age of the applicant should not be more than 25 years (exemptions are available in special cases).
- The scheme covers several courses including engineering, medicine, management, nursing, polytechnic, BA, BSc, BCom etc.
- The loan can be used for course fees, purchase of laptop or other necessary study-related expenses.
- Only students admitted in government recognized institutions are eligible.
How to apply
- First of all go to the website 7nishchay-yuvaupmission.bihar.gov.in.
- Click on “New Applicant Registration”.
- Enter your name, email ID, mobile number, Aadhaar number, verify with OTP and click “Submit”.
- Username and password will be sent to your mobile and email.
- Then login to the same website and fill in your personal details.
- Select the BSCC option from the home page and click on “Apply”.
- Fill the form and submit it. You will receive a confirmation message and a number on your mobile.
- After this, you will get an appointment date from the District Registration and Counselling Centre (DRCC) via email/SMS.
- Go to DRCC on the scheduled date with all the required documents and submit them.
- After the verification by the officials and the bank is complete, DRCC will give you the student credit card and bank sanction letter.
- Then go to the bank and complete the formalities and your loan will be released.
- You can also check the status of your application online.
These documents will be required
- Aadhar Card
- PAN Card
- 10th and 12th mark sheets and certificates
- Copies of scholarship award letter (if available)
- Approved course structure
- Admission certificate
- Fee schedule
- Photograph
- Income certificate of last year
- Income tax return of last two years
- Bank statement of last six months
- Residence proof (passport, identity card, driving license, voter ID card)
- Tax receipt
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