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Student credit card scheme launched – West Bengal

Under the scheme, a student of Class X or higher can avail a soft loan of up to Rs 10 lakh to pursue higher studies in schools, colleges, institutes in Bengal, other states or abroad.
  • According to the credit card scheme, it will have a credit limit of 10 lakh with an interest rate of only 4%
  • Fifteen years will be given to a student to repay the loan after getting a job
  • 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.
  • To make the youth of Bengal self-reliant, the Scheme shall provide a loan of up to 10 Lakh with an annual simple interest.
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.
Tags: Current Affairs, Education

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