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.