Student Credit Card
Objective
Bihar Student Credit Card Yojana 2021: Candidates can check their BSSC application status now. The Bihar Student Credit Card Yojana was launched on 2nd October 2016. This a loan scheme that helps the students to pursue higher studies. This Credit Card Scheme is also known as the “MNSSBY Bihar Student Credit Card Scheme“. The main aim of introducing this Credit Card yojana is to bridge the gap between the “Gross Enrollment Ratio” in Bihar and in other parts of India.
The Government has implemented this Yojana so that the students don’t stop studying due to their financial issues. The mode of applying for the Bihar Credit Card is online only on its official website. However, to apply for this Credit Card yojana, you need to fulfill certain eligibility conditions and other identification procedures. So, in this article, we have provided complete details regarding the MNSSBY Bihar Credit Card Scheme.
Courses Eligible for Studies:
| # | Class |
|---|---|
| 1. | B.A./ B.Sc./ B. Com. (All subject) |
| 2 | M.A./M.Sc./M.Com (All subject) |
| 3 | Aalim |
| 4 | Shashtri |
| 5 | B.C.A. |
| 6 | M.C.A. |
| 7 | B.Sc. (Information Technology/Computer Application/Computer Science) |
| 8 | B.Sc. (Agriculture) |
| 9 | B.Sc. (Library Science) |
| 10 | Bachelor of Hotel Management & Catering Technology (B.H.M.C.T.) |
| 11 | B.Tech/B.E. for laterally admitted candidates having degree of threeb years diploma courses approved by the State Technical Education Council |
| 12 | Hotel Management and Catering Technology |
| 13 | Hospital and Hotel Management |
| 14 | Diploma in Hotel Management (Three Year) (I.H.M. Course) |
| 15 | Bachelor in Yoga (Entry Level+2Pass) |
| 16 | B.Tech/B.E./B.Sc.(Engineering-all branches) |
| 17 | M.B.B.S. |
| 18 | B.Sc. (Nursing) |
| 19 | Bachelor of Pharmacy |
| 20 | Bachelor of Veterinary Medicine and Surgery (B.V.M.S.) |
| 21 | Bachelor of Ayurveda, Medicine and Surgery (B.A.M.S) |
| 22 | Bachelor of Unani Medicine & Surgery (B.U.M.S) |
| 23 | Bachelor of Homeopathic Medicine & Surgery (B.H.M.S.) |
| 24 | Bachelor of Dental Surgery (B.D.S.) |
| 25 | General Nursing Midwifery (G.N.M) |
| 26 | Bachelor of Physiotherapy |
| 27 | Bachelor of Occupational Therapy |
| 28 | Diploma in Food, Nutrition/ Dietetics |
| 29 | Bachelor of Mass Communication/Mass Media/Journalism |
| 30 | B.Sc. in Fashion Technology/Designing/Apparel Designing/Footwear Designing |
| 31 | Bachelor of Architecture |
| 32 | Bachelor of Physical Education (B. P. Ed.) |
| 33 | M.Sc/M.Tech Integrated course |
| 34 | M.A./M.Sc./M.Com (All subject) |
| 35 | Diploma in Food Processing/ Food Production |
| 36 | Diploma in Food & Beverage Services |
| 37 | B.A./B.Sc.-B.Ed. (Integrated Courses) |
| 38 | Bachelor of Business Administration (B.B.A.) |
| 39 | Master of Business Administration (M.B.A.) |
| 40 | Bachelor of Fine Arts (B.F.A.) |
| 41 | BL/LLB (5 Year integrated Course) |
| 42 | Degree/Diploma in Aeronautical, Pilot Training, Shipping |
| 42 | Polytechnic |
Bihar Student Credit Card Application Status
After submitting the form, you can check the status of your registration form. The Application Status will help you to track down your registration form. The process to check the status is available online only. Thus, the steps to check the application status of BSCC is available below.
How to Check Bihar Student Credit Card Form Status?
You can check the application form status of the BSCC Form in two ways – Registration ID and Aadhaar Card Number. Thus, the steps for each case are explained below –
Through Registration ID
- Visit the Official Website of MNSSBY Bihar.
- Click on the “Application Form Status” Link
- Select the “Registration ID” option
- Enter the following details –
- Registration ID
- Date of Birth
- Captcha Code
- After entering all the details, click on the submit.
- The status of the registration form will be displayed on the screen
Through Aadhaar Card Number
- Visit the Official Website of MNSSBY Bihar.
- Click on the “Application Form Status” Link
- Enter “Aadhaar Card Number”
- Date Of Birth and Captcha code and submit.
- Check the details and print if required.
Documents Required for the Bihar Student Credit Card Scheme
The following documents are required for the Bihar Student Credit Card Yojana 2021 –
- Mark Sheet of 10th and 12th Class
- Residential Certificate of the candidate
- Detailed Document of Fee for Higher Education, issued by the Institute.
- Selection Certificate from the recognized Institute for Higher Education
- PAN Card
- Self-Attested Copies of the application form with passport-size photographs
- Last 6 months bank statement of your parent’s
- Income Tax Return of the last two years
- Other Identification Documents such as Aadhaar Card/Voter ID Card/Passport/ Driving License etc.
Loan Approval Process for Bihar Student Credit Card Card
After submitting all the documents successfully, the Government then verifies all the documents. The BSCC Credit Card verification process takes around 10 to 15 days after receiving the documents from the student. Thereafter, the successful verification of the documents, the details are then transferred to the banks which then approve or disapprove the loan.
However, the approval and disapproval of the loan are shared by the banks through SMS on registered mobile number shared at the process of form filling. So, once, the loan is approved, the applicant has to visit the bank branch to complete the rest of the formalities.
Interest Rates of MNSSBY Bihar Student Credit Card
The Interest Rates for the Bihar Student Credit Card Yojana vary with the banks. Earlier, the Interest Rate of Canara Bank was 12% and Madhya Bihar Gramin Bank was 12.5% per year. But according to the latest information, the Bihar Government is providing loan at 4% simple interest. However, 1% is for the women, PWD, and transgender, through “Bihar Student Education Finance Corporation”.
Moreover, no interest is applicable for the course duration of 4 years (B.Tech) plus an additional year. Therefore, you need to pay your loan after 5 years of admission to the course in installments. However, you can also extend the deadline, by informing the DRCC. All you have to do is write an application form twice a year (July and December).
Highlights of Bihar Student Credit Card Yojana 2021
- The Bihar Credit Card Yojana Scheme is introduced by the Bihar Government.
- The Scheme offers Loans to the students who have passed 12th class and want to pursue higher education.
- Under this Bihar Student Credit Card Scheme, candidates can avail of loan up to 4 lakhs from the bank.
- The Online Registration Process for the MNSSBY Bihar Student Credit Card Card is available on App/Portal. Check Scholarships in India
Purpose
- Fee payable to college++/ school/ hostel*
- Examination/ Library/ Laboratory fee
- Insurance premium for student borrower
- Caution deposit, Building fund / refundable deposit supported by Institution bills/receipts. **
- Purchase of books/ equipment / instruments / uniforms**
- Purchase of computer at reasonable cost, if required for completion of the course**
- Any other expense required to complete the course – like study tours, project work, thesis, etc.**
- While computing the loan required, scholarships, fee waiver etc., if any available to the student borrower may be taken into account. If the scholarship component is included in the loan assessment, it may be ensured that the scholarship amount gets credited to the loan account when received from the Government.
Notes: ++ For courses under Management quota seats considered under the scheme, fees as approved by the State Government/Government approved regulatory body for payment seats will be taken, subject to viability of repayment.
* In case hostel facility is not available, on production of certificate to the effect by the institute, living expenses (expenses incurred by student borrower towards lodging and boarding) will be reimbursed as per category of the city provided in Annexure II and Standard rates for different category of cities provided in Annexure III.
Student eligibility:
- Should be an Indian national.
- Should be resident of Bihar with Maximum age of 25 Years.
- Intermediate exam passed student from Institutions recognized from Bihar School Exam Committee, 12th passed student from Institution recognised by Central Board of Secondary Education or Equivalent boards, Sub-Shastri passed students from Institutions recognized by Bihar State Sanskrit Education Board and Moulvi passed student from recognized Institute by Bihar State Madarsa Board will also be facilitated under this scheme. These Educational Institutes must compulsorily be located /situated in Bihar.
- If applicant is a degree holder of one level he will not be covered for degree of the same level under this scheme. This will not be applicable to technical and management courses. For instance, under this scheme, the loan shall not be provided to science graduate degree holder for pursuing graduate level courses for studying again in any other Faculty of Arts, Science or Commerce. But will be eligible for pursuing higher education under courses like MBA or MCA.
- CIBIL score of the student shall be more than or equal to 700. In case CIBIL score is lower than 700 it will be sanctioned by next higher authority.
- Student should have been enrolled or selected for enrolment for pursuing higher education in the educational institutions recognized by concerned regulatory boards/ agencies of Bihar Govt. or other state Govts. or Central Govt.
- Loan application will be received only if student have UID or Aadhar Card Number.
- Loan will be disbursed only for students having valid Permanent Account Number (PAN Card)Institutes Eligible for Studies:
- Educational institutions recognized by concerned regulatory boards/ agencies of Bihar Govt. or other State Govts. or Central Govt.
Courses Eligible for Studies:
General Courses (non-technical), Financial Courses and Technical Courses e.g. B.A., B.Sc., B.Com, Engineering, Management, Medical, Law etc.
Quantum Of Finance
Need based finance to meet the expenses mentioned above will be considered taking into account margin subject to the following ceiling: Maximum up to Rs. 4 lakhs #
Security
Parents/ legal guardians to be joint borrower(s). No collateral security. No third party guarantee.
The loan documents should be executed by the student and the parent/ guardian as joint-borrower.
All the loans will be covered under the financial assistance scheme of Bihar Government.
Repayment
Repayment of loan will be in Equated Monthly Installments of (EMI) for a period of 15 years.