Student Credit Card is a special credit card for college going students, offered by selected banks. Students credit card is also known as SCC, It has a set credit limit of 15,000 INR for students with a validity of 5 Years. Students who are college-going and 18+ age can avail this card with particular conditions. Naturally, this card provides financial support to those students who have not any income source.

All they need to do is, they need to present all the required documents and fulfil the eligibility asked by the BanksAll they need to do is, they need to present all the required documents and fulfil the eligibility asked by the Banks
 

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Bihar state offers a Student Credit Card with a fixed limit of 4 lakhs rupees to its native students so that they can pursue higher studies. It is the only state in India that provides financial support in the form of Student Credit Card to students for higher studies. The card is offered to students under the scheme introduced by the Bihar State Government on 2 October 2016. This scheme is known as Bihar Student Credit Card Scheme (BSCCS).

 

Bihar Student Credit Card

Students who got Student Credit Card under the scheme introduced by the Bihar Government can pursue Finance, B.tech, MBBS, B.Sc courses. They can pay the tuition fee up to 4 lakh INR with its help.

Condition or Eligibility to Apply for Bihar Student Credit Card    

  1. Must be a resident of Bihar state
  2. Applicant’s age should be 18+ years and not more than 24 Years. (Students who are 24 can apply for it)
  3. Must be 12th passed from the valid board (CBSE, BSEB, ICSE)
  4. Must be applied for admission in any institute which is recognized by the official organization

Mandatory Documents to Apply For Bihar Student Credit Card

  1. Marks sheet of 10th and 12th Board exam
  2. Birth Certificate
  3. Residence Certificate (Bihar)
  4. Admission invitation letter from the college where student applied
  5. The Fee structure of the course applied for admission
  6. Recent Passport size photo
  7. Self Attested application for Student Credit Card
  8. Any photo ID Card issued by the government (Aadhar Card or any other)
  9. Birth Certificate of the Candidate
  10. Bank statement of parents (At least 6 Months)
  11. Certificate of Family income along with FORM-16
  12. PAN card of Candidate and parents

How to Apply for Bihar students Credit Card

  1. Students need to visit the official website of Bihar student Credit Card that is https://www.7nishchay-yuvaupmission.bihar.gov.in
  2. On the webpage Click on the option of “New Applicant Registration”
  3. Fill the personal details of the candidate like name, mobile number, Email ID etc.
  4. Click on Submit, you will get the OTP and login ID and Password on the email ID or SMS
  5. Again visit the home page of the official website
  6. Log in with credential you have got on SMS and Email ID
  7. Enter academics details of the candidate and other mandatory details asked on the website.
  8. Click on the drop-down menu and select the Bihar Student Credit Card Scheme
  9. In the last step, complete all the formalities asked on the page and click on submit

Keep in mind: Before submitting the documents on the website make sure that all the documents are correct and legal. Once submitted then those documents will be considered as final documents.

After submitting the documents, a representative of the State Government will contact you for the further Process

Benefits of Students Credit Card scheme

  1. 4 lakh Limit-On the basic of this card students can have a credit up to 4 lakhs rupees to study
  2. Low-interest Rates-Different category students have different interest rates. For Girls, physically handicapped (Divyang) students and transgender students, interest rates are only 1%. Also, for normal students interest rates are low.
  3. No guarantee will be asked by the bank- Banks will never ask you for any guarantee on the behalf of loan. The state government will be your guarantor.  
  4. Get a job then pay the loan- Banks will never ask you to pay the loan until you have got the job
  5. The government will pay your loan- In case, students who are not able to pay the loan that he/she took from bank, then the state government will pay the loan on the behalf of students

The process is simple and there is no worry about the loan and its interest. Just apply with valid documents and get a loan to pay the fee of the course of your choice. Get a job and pay the bank.

Student Credit Card

Students Credit Card is a special type of Credit Card offered by selected banks of India. These cards have a set limit of 15,000 INR with fixed validity of 5 Years. Students who have this card can shop online, and withdraw cash from ATMs and much more. The advantages of students Credit Card are similar to Normal credit Card. The key point of the student credit card is, this card can be avail by the college-going students who have completed 18 years.

Students Credit Card Banks

  1. HDFC Bank
  2. State Bank of India
  3. Axis Bank
  4. ICICI Bank

Apart from these banks, some other banks and some financial institution offers student credit card but there are some strict conditions for it.

Student Credit Card Eligibility Criteria   

  1. Admission Proof- Students need to apply for admission in any institution who recognized by the government organization
  2. Age Limit-  Students must have completed 18 years at the time of application for Student credit Card
  3. Loan Holders- As mentioned above some other banks offers student credit card but the conditions are strict. These banks offer student credit card only to those students who have taken a loan from this bank (also education loan). This helps for Banks to trust students and their parents who took a loan from them
  4. Fixed Deposit Holder- Parents who have fixed deposit in any bank in India, those banks can offer student credit card based on that fixed deposit. However, it depends on the banks that what limit they set for you.
  5. Old account holder (with well-maintained balance)- Old Costumers get respect from banks. If your father has an account with good average balance then the bank may offer you a student credit card with a set limit and validity.
  6. Add on Credit Card with your parent’s credit Card- Students who do not fit on above-mentioned criteria then they can get an add on the credit card. If your father/mother/guardians have a credit card of a particular bank with a limit of 1,00,000 INR then they can apply for an add on the credit card. In this case, the limit of the second card will be set by your guardian and that limit will be deducted to your parent’s card. If you got an add on card with a limit 20,000 INR then your father’s card limit will reduce (1,00,000 INR -20,000 INR).

Required Documents for Student Credit Card

To get students credit cards from banks, students need to present the following mentioned documents.

  1. Photo ID Card approved by the government (Adhar Card/ Pan Card or any valid ID proof)
  2. Birth Certificate of the candidate
  3. Residence proof of the candidate or their Parents
  4. PAN Card of Students or their parent’s PAN Card
  5. Most Recent Coloured Photographs (passport size)
  6. Admission invitation letter or ID card of students issued by the college

Key Factors of Student Credit Card

  1. Credit Limit- The Students Credit Card issued by the banks has a set credit limit of 15,000 INR. Students Can spend up to this credit limit by withdrawing process or in Online shopping.  As a guardian, you don’t need to worry if you provide a student credit card to your Son/Daughter who is in college.
  2. A long validity- Normal credit cards offered by the banks have less validity than student credit cards. Normal credit cards have 3 years validity whereas student credit card has a 5-year validity
  3. Annual Charges like Normal Credit Cards- Students who have student credit cards must have to pay the annual charges of the card, just like other credit cards. The annual charges include the maintenance fee, joining fee etc.
  4. Zero Charges to reissue the Card- Students do not need to pay any charges in case they lost the student credit card. All they need to block the card by asking the related banks   

Advantages of Student Credit Card

The student’s credit card has various benefits that can help students when they need.

  1. No need to submit any income proof – Students can credit card and they don’t need to submit so many documents as proof to get it. Also, they don’t need to show any income proof to get a credit card.
  2. Importance of Money- Students who have a credit card with a set limit can understand the importance of money in the early age. With a small amount of money, they will learn savings and know where to spend it. This positive habit will help them in future
  3. Cashback and Discounts on Online shopping- If students use this card on online shopping then just like other credit cards, they will get cashback, discount offers and much more.
  4. Money when they need- It’s genuine that sometimes their parents are unable to send money when they need. At that time they can use a credit card. Its like financial support at the time for them.

Process to Apply for student Credit card

Students who have all the documents can apply for a credit card in the banks. They have to follow the process and agree on the conditions of the banks.  Just take all the important documents mentioned above and complete all the formalities at the bank. Now the banks will verify the documents given by you. If they find al things are right then, very soon you will get a student credit card. The card has a fixed limit of 15,000 INR and validity of 5 years. Banks won’t ask you for your income proof, credit score, and credit history. A college-going student can get a student credit card with valid documents.