Bihar Credit Card

Bihar Student Credit Card

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Bihar Student Credit Card Scheme

The Bihar Student Credit Card Scheme (BSCCS) of the Mukhyamantri Nischay Swayam Sahayata Bhatta Yojana (MNSSBY) aims to provide financial support to students with reasonable and affordable terms and conditions. This scheme provides financial assistance to students for their higher education. Students who have cleared their Intermediate/12th grade from state government-run institutions and are unable to pursue higher education due to financial constraints can apply for Bihar student credit card.

Key Highlights of the Bihar Student Credit Card Yojana

The key highlights of MNSSBY are mentioned below:

  • Avail higher education loans of up to ₹4 lakh.

  • Enjoy low-interest rates.

  • Use available funds to pay fees, buy books, etc.

  • Applicable for a range of higher education courses.

  • Repay comfortably post securing a job.

How to Apply for a Bihar Student Credit Card?

Make the most of the BSCC scheme and apply for a Bihar student credit card online. The scheme will make your higher education dreams a reality. Here’s how you can apply for a Bihar student credit card online:

Step 1: Visit the MNSSBY website at http://www.7nishchay-yuvaupmission.bihar.gov.in/.

Step 2: Select the ‘New Applicant Registration’ option.

Step 3: Fill in the required details and press on ‘Send OTP’.

Step 4: Now, enter the OTP received on your mobile number/email ID and click on ‘Submit’.

Step 5: Once you are successfully registered for a student credit card of Bihar, click on ‘Go to Home Page’.

Step 6: Log in to the Bihar student credit card yojana website using the credentials you received via SMS/email.

Step 7: Now, set a new password and login once again with the unique password.

Step 8: Enter your details in the fields and click on ‘Submit’.

Step 9: Select the ‘Bihar Student Credit Card’ option from the ‘Select Scheme’ drop-down menu.

Step 10: Enter your personal information and the co-applicants, if any.

Step 11: After filling in all the required information for the student credit card Bihar, click on ‘Submit’.

Step 12: Make a note of the acknowledgement that you receive via email.

Eligibility Criteria for Bihar Student Credit Card Yojana

To meet the BSCC eligibility criteria, you must follow these Bihar student credit card guidelines:

  • You must be an Indian national to be eligible for the scheme.

  • You should be a resident of Bihar.

  • You must be less than 25 years of age.

  • As a student to be eligible for a student credit card of Bihar, you must have:

  1. Cleared an intermediate exam from institutions recognised by the Bihar School Exam Committee

  2. Cleared 12th grade from institutions recognised by Central Board of Secondary Education (CBSE) or equivalent boards

  3. Sub-Shastri students from institutions recognised by Bihar State Sanskrit Education Board

  4. Passed Moulvi students from recognised institutes (Bihar State Madrasa Board) will also be facilitated under this scheme. These kinds of Educational Institutes need to be located /situated in Bihar.

  • If you are a degree holder of one level, you will not be covered for a degree of the same group under the MNSSBY scheme. This eligibility will not apply to technical and management courses. For instance, under this scheme, the loan shall not be provided to science graduate degree holders for pursuing graduate-level courses for studying again in any other Faculty of Arts, Science or Commerce. However, you will be eligible for pursuing higher education under courses like MBA or MCA

  • Your CIBIL score must be more than or equal to 700. In case the CIBIL score is lower than 700, the next higher authority will sanction it.

  • You should have been enrolled or selected for enrolment for pursuing higher education at educational institutions recognised by concerned regulatory boards/agencies of the Government of Bihar or other state or central governments.

  • You must have a Unique ID (UID) or Aadhaar card number.

  • You must have a valid Permanent Account Number (PAN)

Institutes Eligible for Studies:

Educational institutions recognized by concerned regulatory boards/ agencies of Bihar Govt. or other State Govts. Or the 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.

Documents Required For BSCC

Here’s a list of documents required for a Bihar Student credit card that will prove your eligibility for the MNSSBY scheme. The required Bihar Student Credit Card documents are as follows:

  • Mark sheets of the applicants of the 10th and 12th standards.

  • Documents for proof of admission to a higher education institute.

  • If the credit card is being applied with an applicant and co-applicant.

  • Documents for proof of address.

  • Identity proof such as the Aadhaar card and PAN card.

  • Bank account statements.

  • Other documents like family income certificate along with Form 16.

What are the Features and Benefits of BSCC?

Here are some of the Bihar student credit card features and Bihar student credit card benefits of applying for the Bihar Sarkar student credit card Scheme.

  • The applicant can avail a loan amount of up to ₹4 lakh.

  • The loan is eligible for students pursuing general and polytechnic courses, and not just technical courses.

  • Financing is available at a lower rate of interest of 1% for girls, transgender and students with disabilities.

  • Financial assistance can be used to pay fees, buy books, purchase laptops, etc.

  • The government owns the loan and hence in extreme cases; the government may entirely waive off the outstanding balance.

  • Credit card repayment begins once the course is complete and you secure a job.

What are the Bihar Student Credit Card Fees and Charges?

In the initial phase of the MNSSBY scheme, a student credit card was issued to the applicant, to avail a loan. Interests used to vary with banks as there was nothing mentioned about it. For instance, the interest rate of Canara Bank and Madhya Bihar Gramin Bank was 12 and 12.5% per annum a year ago. But according to the latest information, Bihar Student Credit Card offers educational loans. Under the Bihar Student Credit Card charges 4% simple interest (1% simple interest for women, disabled and transgender) through “Bihar Student Education Finance Corporation (BSEF)”.

With the Bihar Student Credit Card rewards no interest shall be charged for the duration, of course, say four years of B.Tech plus an additional year. So, the fact is you need to start paying back your loan after five years of your admission to the course, B. Tech here, in instalments. However, you can extend this deadline if you still can't afford to pay back by informing DRCC through a written application twice a year.

How to Contact the Bihar Student Credit Card Customer Care?

For any query related to the Bihar Student Credit Card Yojana, candidates can call on Bihar student credit card helpline number – 1800 3456 444.

You can contact the above Bihar credit card customer care number and furthermore, candidates can see the details of the Bihar govt. scheme and Bihar student credit card deals on the official website at http://www.7nishchay-yuvaupmission.bihar.gov.in/

Bihar student credit card helpline number

BSCC Email Address

1800 3456 444

spmubscc@bihar.gov.in

How to Use the Bihar Student Credit Card?

  • Fee payable to college/ school/ hostel

  • Examination/ Library/ Laboratory fee

  • Insurance premium for the student borrower

  • Caution deposit, building fund / refundable deposit supported by Institution bills/receipts.

  • Purchase of books/ equipment / instruments / uniforms

  • Purchase of computer at a 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 waivers, 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.

These expenses could be considered subject to the condition that the amount does not exceed 20% of the total tuition fees for the entire course.

In August 2018, the Bihar state’s Gross Enrolment Ratio (GER) fell to 14.3% while the average across the country was 24%. The Bihar credit card scheme is a government initiative that intends to boost this ratio to 30% in 5 years.

FAQs on Bihar Student Credit Card Scheme

  • ✔️What is a Bihar student credit card?

    The Bihar state student credit card does not work like a conventional credit card you get from a financial institution. This is because the primary purpose of the BSCC scheme is to finance education, and hence, it doesn’t give you the other benefits that a credit card offers. 

  • ✔️How can I get a Bihar student credit card?

    To apply for a Bihar Student Credit Card, you need to follow the steps mentioned below:

    Step 1: Visit the website at http://www.7nishchay-yuvaupmission.bihar.gov.in/.

    Step 2: Select the ‘New Applicant Registration’ option.

    Step 3: Fill in the required details and press on ‘Send OTP’.

    Step 4: Now, enter the OTP received on your mobile number/email ID and click on ‘Submit’.

    Step 5: Once you are successfully registered, click on ‘Go to Home Page’.

    Step 6: Log in to the website using the credentials you received via SMS/email.

    Step 7: Now, set a new password and login once again with the unique password.

    Step 8: Enter your details in the fields and click on ‘Submit’.

    Step 9: Select the ‘Bihar Student Credit Card’ option from the ‘Select Scheme’ drop-down menu.

    Step 10: Enter your personal information and the co-applicants, if any.

    Step 11: Click on ‘Submit’.

  • ✔️How can I check my student credit card status in Bihar?

    You can check your Bihar student credit card status online by visiting the site at http://www.7nishchay-yuvaupmission.bihar.gov.in. To view the BSCC status of the application, visit the above link and enter your registration number or Aadhaar number and date of birth. On submission, you will be provided with your Bihar student credit card application status information.

  • ✔️Who can apply for a Bihar student credit card?

    You need to be a resident of Bihar for a smooth Bihar student credit card application process. Additionally, you should have successfully cleared the 12th grade. This education scheme offers a substantial loan amount of up to ₹4 lakh. Students can use the funds to mitigate their education expenses towards B. Tech courses as well as polytechnic and general courses.

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