Archive · 29 Nov 2025
West Bengal's Student Credit Card Scheme Hits 1 Lakh Milestone
West Bengal's Student Credit Card Scheme has reached a big goal with over 1 lakh loans given to students.
This scheme helps students get loans up to ₹10 lakh at a low interest rate to study in schools, colleges, and universities in India and abroad.
The state government pays the interest, making it easier for students to focus on their studies.
The loans can be paid back over 15 years.
The scheme was started in 2021 to help students achieve their academic dreams without worrying too much about money.
West Bengal's Student Credit Card Scheme has sanctioned over 1 lakh loans.
The scheme provides loans up to ₹10 lakh at a 4% interest rate for higher education.
The state government bears the entire interest subsidy.
Loans can be repaid over 15 years, with a 1% interest concession if serviced during the study period.
The scheme supports studies in India and abroad, including professional degrees and competitive exam coaching.
- Who
- West Bengal students pursuing secondary, higher secondary, undergraduate, postgraduate, and professional studies
- What
- Student Credit Card Scheme providing loans for education
- When
- Launched in 2021, milestone achieved recently
- Where
- West Bengal, India, and affiliated institutes outside India
- Why
- To support higher education by reducing financial burden on students
- Maximum Loan Amount
- ₹10 lakh
- Interest Rate
- 4% per annum (simple interest)
- Interest Concession
- 1% if interest is fully serviced during study period
- Repayment Period
- 15 years
- Launch Year
- 2021
- Sanctioned Loans
- Over 1 lakh
