Bihar Student Credit Card Yojana – How to Apply Online?

improve your credit score

improve your credit score

The Bihar Student Credit Card Yojana was introduced in 2016 by the Bihar government. The initiative was aimed to reduce the disparity in Gross Enrolment Ratio (GER) of Bihar and other states.

Bihar’s GER was last evaluated at 14.3%, the lowest in the country. The national average of 24% significantly dwarfs it. The Bihar government targets a 30% GER within five years through this scheme.

The MNSSBY – BSCC Yojana was initiated to provide financial assistance to students who have graduated from the 12th standard and are aiming to pursue higher studies. With this scheme, students are enabled to pay their educational expenses in any recognised university in India.

How to apply for Bihar Student Credit Card Yojana online?

You can apply for a Bihar Student Credit Card online. You will need to register with the official website initially.

The steps involved in such process are discussed below –

Step 1. Visit the official website of Bihar Student Credit Card Yojana.
Step 2. On the homepage, above the “Log in here” option, click on “New Applicant Registration”.
Step 3. Furnish the following details – your first name, middle name, last name, email ID, Aadhaar number, and your mobile number.
Step 4. Generate a one-time password by clicking on the “Send OTP” option.
Step 5. Provide the OTP, which you have received on your mobile number.

Once the OTP is verified, you are registered. You will receive introductory credentials of your new account via SMS or email

To complete your registration follow the steps mentioned below –

Step 1. Login with your credentials.
Step 2. Provide the necessary details and submit.
Step 3. Navigate to the “Select Scheme” drop-down menu and click on “Bihar Student Credit Card”.
Step 4. Furnish yours and your co-applicants information as asked for in the application form.
Step 5. Verify your details and submit.

After you have successfully concluded the application process, you will receive an acknowledgement email. You can also decide to change the introductory password, which you received after registration.

You can avail a loan up to Rs.4 lakh to facilitate your higher studies. You can access the loan amount through a card. Repayment of such loan shall take place after you have secured a suitable job. There are several ways how you can repay your credit card debt, such as through net banking.

Eligibility criteria and documents

In order to apply for a MNSSBY – BSCC, you need to satisfy the following eligibility criteria –

  • Applicant must be a resident of Bihar.
  • He/she should be under 25 years of age.
  • He/she must pass class 12.
  • Should pursue higher education in an AICTE/UGC recognised university in India.

To continue enjoying the benefits of this credit card, you should also complete your higher studies.

The documents which you need to produce are –

  • Class 10 and 12 mark sheets.
  • Proof of admission to a recognised educational institution in India.
  • Applicant and co-applicants ID and address proof – Aadhaar and PAN card.
  • Family income certificate and Form 16.
  • Bank account statements of the applicant’s parents.
  • Two photographs of the applicant, his/her parents, and the guarantor.

You can conclude your application for a loan under the Bihar Student Credit Card Yojana after submitting the documents mentioned above. These are the few important things to know before applying for a credit card.

The scheme does not resemble the facilities of a general credit card. For instance, it does not offer the facility of revolving credit.

Additionally, using a MNSSBY Bihar Student Credit Card does not improve your credit score. Other credit cards enable you to improve your credit score.

You can leverage your credit score to apply for high-value loans, which will allow you to enrol into reputed educational institutions in India and abroad as well.

Reputed credit cards such as the Bajaj Finserv RBL Bank SuperCard come with premium features and high credit limit that enable students to meet associated expenses while availing higher education adequately.

Bajaj Finserv also provide pre-approved offers on credit facilities to simplify and fasten the application process. These offers apply to an array of financial products such as home loans, personal loans, business loans etc. You can check your pre-approved offer by providing your name and phone number.

Regardless, the Bihar Student Credit Card Yojana offers a convenient financial solution to provide students with the backing they need to pursue higher education after class 12.

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