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Bihar Student Credit Card Yojana: Eligibility, Benefits and Apply Online

  • Highlights

  • Bihar Student Credit Card Yojana helps pay college fees

  • Standard 12 pass-outs can get a loan of up to Rs.4 lakh

  • The loan is affordable as the interest rates are nominal

  • You can finance a range of higher education courses

Introduced on 2 October 2016, Bihar Student Credit Card Yojana is loan scheme that helps students who have passed the 12th standard to realise their higher education dreams. This government initiative aims to bridge the gap between the Gross Enrolment Ratio (GER) in Bihar and that in other parts of the country by ensuring that students do not stop studying due to lack of finances. As a student in Bihar, you can fund your higher education course by applying for a Bihar Student Credit Card online. To help you make the most of this unique financial initiative, here is a rundown on the Bihar Student Credit Card Scheme, it’s benefits, eligibility terms and application procedure.

What is Bihar Student Credit Card Yojana?

Introduced by the government in Bihar, the Bihar Student Credit Card Yojana is a scheme that provides funding to students who require financial assistance for their higher education. In August 2018, the state’s Gross Enrolment Ratio (GER) was pegged at 14.3% while the average across the country was 24%.

The scheme intends to boost this ratio to 30% in 5 years. Beneficiaries of the Student Credit Card Yojana in Bihar get financing of up to Rs.4 lakh at nominal interest rates. The money can be used to finance a B.A., B.Sc., M.B.B.S., or B.Tech course.

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What are the benefits of the Bihar Student Credit Card Yojana?

Here are some of the advantages you get as a beneficiary of the Bihar Student Credit Card Scheme.

  • Get an educational loan of up to Rs.4 lakh

  • The loan is available to those pursuing general and polytechnic courses, and not just technical courses

  • Financing is available at an interest rate as low as 1% for girls, transgender and divyang students

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

  • The loan is owned by the government and hence has lenient recovery procedures. In extreme cases, the government may waive off the balance entirely

  • Repayment begins once the course is complete and you secure a job


Additional Read: How to use credit card wisely?

Eligibility terms for Bihar Student Credit Card Yojana

To benefit from the Student Credit Card Yojana in Bihar, you must meet the following eligibility criteria.

  • Be a resident of Bihar

  • Complete your 12th standard education

  • Be under 25 years of age

  • Seek education at an authorised institute

  • Complete the higher education course in its entirety

In addition, to apply for the Bihar government Student Credit Card, you will need to prove your eligibility with documents like 10th and 12th standard marksheets, proof of admission to a higher education institute and applicant and co-applicant’s ID proof address proof, Aadhaar and PAN card. You will also have to submit bank account statements of the applicant’s parents as well as a family income certificate and Form 16.

Additional Read: How to apply for PAN Card Online on TIN-NSDL

How to apply for a Bihar Student Credit Card online

To benefit from the Bihar Student Credit Card, apply online and make your higher education dreams a reality. Here’s how.

  • Visit http://www.7nishchay-yuvaupmission.bihar.gov.in/

  • Click on ‘New Applicant Registration’

  • Fill in the details and click on ‘Send OTP’

  • Enter the OTP received on your mobile number/email ID and click on ‘Submit’

  • You have successfully registered yourself. Next, click ‘Go to Home Page’

  • Login using the credentials received via SMS/email

  • Set a new password and login once again with the new password

  • Enter your personal details in the fields and click on ‘Submit’

  • Pick ‘Bihar Student Credit Card’ from the ‘Select Scheme’ drop-down menu

  • Enter personal information of the applicant and co-applicant

  • After filling all general and financial information, click on ‘Submit’

  • Make note of the acknowledgement that you will receive via email

Additional Read: Things to know before applying for a credit card

While beneficial, the Bihar government student credit card is not like a conventional credit card you get from a financial institution. This is because its main purpose is to finance education and hence it doesn’t give you the other benefits that a credit card offers. As a result, it may be more beneficial for you to apply for a regular credit card that gives you access to revolving credit and other standout features, such as the Bajaj Finserv RBL Bank SuperCard. This 4-in-1 credit card lets you make 50-day, interest-free cash withdrawals from ATMs, obtain a 90-day, interest-free loan and split purchases over Rs.3,000 into manageable EMIs as well.

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