Bihar Government started the Bihar Student Credit Card Loan Scheme to provide educational loans up to 4 lakhs at a simple interest rate of 4% to students who want to pursue their higher studies. However, female applicants, Persons with Disabilities, and transgender candidates are eligible for this loan at the interest rate of 1%. This scheme helps the students to pursue their academic goals without any financial constraints.
Under the Bihar Student Credit Card Loan scheme, the Bihar State Education Finance Corporation will provide a guarantee against the education loan offered to students. It covers both living expenses associated with the education and tuition fees of the candidate. Additionally, if the hostel facilities are unavailable, the loan can also be used to cover the cost of rented accommodation.
Eligibility Criteria for Bihar Student Credit Card Loan Scheme
These are the eligibility criteria that applicants must have to meet to apply for the Bihar Student Credit Card Loan scheme:
- Residents of Bihar state are eligible to apply for this loan scheme.
- Students must be enrolled in general courses, such as BA/BSc, and professional/technical courses such as engineering/management/medical/law.
- They should have completed their Class XII or equivalent exam or Class X from a recognized institute in Bihar.
- The applicant’s age should not exceed 25 years at the time of applying. However, for the PG courses, the minimum qualification is graduation and the age limit is 30 years.
- They should be selected or admitted for admission to a recognized institute of higher education
- Neighbouring states as West Bengal, Uttar Pradesh, and Jharkhand are also eligible to apply for Bihar Student Credit Card
Bihar Student Credit Card Scheme Benefits
Selected candidates will be eligible for an education loan of up to INR 4 Lakh at a simple interest rate of 4% per annum. However, in the case of female candidates, persons with disabilities, and transgender candidates, the interest rate will be 1%.
Bihar Student Credit Card Loan Scheme – Required Documents
These are some of the important documents required for the Bihar Student Credit Card Loan Scheme:
- Photocopy of Aadhaar Card of the Candidate and Co-applicant
- Two passport-size photos of the application and co-applicant
- Marksheet & Passing Certificate of Class X & XII
- Certificate related to the scholarship and free education (if required)
- Institute Enrollment certificate, where the course duration is mentioned.
- Course brochure for the institute located outside Bihar state
- The bank passbook of the applicant
- Course details received from the institute
- Photocopy of residential certificate
- Bank statement for the last 6 months
- Tax return certificate
- Income certificate of the last year/ form 16
- Tax receipt
Bihar Student Credit Card Loan Scheme – Application Process
To apply for the Bihar Student Credit Card Loan scheme, follow these simple instructions as mentioned below:
- Visit the official website at 7nishchay-yuvaupmission.bihar.gov.in.
- There, you just need to select the “New Applicant Registration” option.
- Provide all the required details, such as name, email, Aadhaar number, mobile number, etc., and click on the “Send OTP” option.
- You will receive two OTP: one is on your mobile number and another one is on your email address.
- You have to enter the OTP, and a personal description and contact form will appear on your screen.
- Fill up the form with all the necessary details and application form will appear.
- Provide the desired information in the application form and submit it.
- After submitting the application form, you will receive a unique registration number.
- Upon completing the application, a PDF version of the form will be generated, containing details related to the necessary documents and the designated time to visit the District Registration and Counselling Center (DRCC) for further processing of the application.
- On the prescribed date of the visit, please be sure to bring all the important documents in the prescribed format.
- After submitting all the documents, take the receipt for the application from the designated counter.
FAQs: Bihar Student Credit Card Loan Scheme
Q: What is the interest rate offered under the Bihar Student Credit Card Loan Scheme?
A: The government of Bihar offers the Bihar Student Credit Card at a simple interest of 4%. However, in the case of female candidates, persons with disabilities, and transgender candidates will get the loan at a simple interest of 1%.
Q: What is DRCC?
A: The District Registration and Counselling Centre is the registered office of Bihar state where the people can apply for various government schemes.
Q: What are the schemes covering the “Aarthik Hal, Yuvaon Ko Bal” program?
A: It encompasses three distinct schemes: the Bihar Student Credit Card Scheme, the Chief Minister’s Self-Help Allowance, and the Skilled Youth Program.
Q: How to check the Bihar Student Credit Card Loan application status?
A: To check the application status of the Bihar Student Credit Card, follow these instructions below:
- Firstly, visit this link 7nishchay-yuvaupmission.bihar.gov.in.
- There, from the main menu, you have to select the “Application Status” option.
- You can search by either the Registration ID or using the Aadhaar Card Number.
- If you select the “Registration ID”, then provide the Registration ID, Date of Birth, and Captcha Code.
- Then, simply select the “Submit” button to check the status of your application.