MNSSBY – Bihar Student Credit Card Scheme (BSCCS)

Bihar Student Credit Card scheme was launched on 2nd October 2016 with the aim to provide financial support to the students who have passed their class 12th from any educational institution which is recognized by the Government of Bihar but are not capable of pursuing higher education due to lack of finance. The main aim of the scheme was to bridge the gap between the gross enrolment ratio in Bihar and other states. Students of Bihar can pursue an education in Bihar or outside in technical or non-technical fields. The main objective is to support the students who are not financially strong so that he/she can pursue higher education with affordable terms and conditions. The Government of Bihar sanctions a loan of up to Rs. 4 Lacs. For this purpose.

What is Bihar Student Credit Card Scheme (BSCCS)?

Bihar Student Credit Card Scheme was launched by Mr. Nitish Kumar (Chief minister of Bihar) in order to provide funds to the students who require financial support for pursuing their higher education. As per record, in August 2018, the gross enrolment ratio in Bihar was 14.3% while it was 24% across the nation. This scheme aimed at boosting the ratio to 30% by 2023. The loan money of 4 lacs is provided to the students as an education loan at minimal rates and it can be used for pursuing B.A, B.Sc, M.B.B.S, or B.Tech courses.

Overview of MNSSBY Bihar Student Credit Card Scheme

Eligibility Criteria for MNSSBY Bihar Student Credit Card Scheme

• The Candidate who wants to avail of the benefits of the scheme should be Indian and a Resident of Bihar. 
•  The candidate should be less than 25 years of age.
• The student should pass the 12th standard exams from an institution recognized by the government of Bihar.
• The student should seek a course from an authorized institute.
• Higher education courses should be completed in their entirety. 
• Students need to prove eligibility with 10th and 12th class mark sheets, Admission proves in higher education, Applicant’s ID proves, Address prove, Aadhar card and PAN card, Family income certificate, Bank statement of parents, and Form 16. 

Interest Rates of the MNSSBY Bihar Student Credit Card

At the initial phase, a credit card will be sanctioned in the name of the candidate to avail of the loan. The rate of interest charged is different in all the banks as there is no official statement about the interest rates. For example, the interest rates charged by Canara bank and Madhya Bihar Gramin bank were 12 and 12.5% per annum a year ago. But at the same time according to the latest information, Bihar student credit card charges 4% simple interest (1 % to women, disabled and transgender) through BSEF (Bihar student education finance corporation). 

How to apply for MNSSBY (Bihar Student Credit Card Online)?

Here is a step to step procedure you can follow to apply for Bihar Student Credit Card Scheme

• Go to website (https://www.7nishchay-yuvaupmission.bihar.gov.in/) 
• Click the ‘New Application Registration’ option.
• Fill in the details asked and click on the ‘Send OTP’ option.
• Now enter the OTP received on mobile number/email and click on the ‘Submit’ option.
• Now go to Home Page again.
• Login to your ID by following the guidelines you receive via SMS or Email.
• Set up a unique password.
• Enter the required details and click on ‘submit’.
• Select the ‘Bihar Credit card’ option.
• Enter your personal information
• After filling in all the required details click on ‘submit’.
• You will receive an acknowledgment via email. Note them for future use.

College/Course List of the MNSSBY Bihar Student Credit Card

The list of the colleges covered under the scheme can be checked by visiting the link- https://www.7nishchay-yuvaupmission.bihar.gov.in/listofcollegedetail.

You need to select the ‘Institute state’ and ‘District’ and then click on the ‘Search’ option. You will get the whole list of the colleges.  

Terms and Conditions for Bihar Student Credit Card

• A student should have mark sheets for the 10th and 12th classes.
• Only Bihar residents can get benefit from this scheme.
• An applying candidate should be at least 25 years old.
• Applicant should have UID or Aadhar card. 
• The student should have PAN (Permanent Account Number) card. 
• A family income certificate is compulsory and has to be attached with the documents.
• A detailed fee document issued by the institution through which you want to pursue higher education is also compulsory.

MNSSBY – Bihar Student Credit Card Status

The online status of the Bihar Credit card scheme Application can be checked after filling the application by visiting the link – https://www.7nishchay-yuvaupmission.bihar.gov.in/addapplicationStatus. After visiting these links, you need to enter your registration details or Aadhaar number and Date of Birth.

Benefits of Bihar Students Credit Card Scheme

• Students can avail of loan benefits up to Rs.4 lacs.
• Students should pursue the general and polytechnic courses to avail the benefits.
• The rate of interest is low as 1% for girls, transgender, and divyang students.  
• The loan can be used to buy books, laptops, pay fees, etc. 
• The loan recovery procedures are lenient and if conditions are extreme, the government can waive off the balance. 
• The recovery begins after you get the job.  

Nischay Swayam Sahayata Bhatta Yojana

Under this scheme, the unemployed youth is given some amount of money so that they can find jobs for themselves. Under this scheme the youth of the state searching for jobs receives Rs. 1000 for 2 consecutive years and after the time of two years the amount becomes Rs. 2400. The biggest objective of this scheme is that the unemployed youth should not ask anybody for them to cover their need.  An applicant should have an Aadhar card, residence certificate, bank account, 10th and 12th grade mark sheet to apply for this scheme. 

Helpline Number of Bihar Student Credit Card

For any queries related to the Bihar Student, credit card scheme, and applicant can call to toll-free number 1800 3456 444.

MNSSBY Student Credit Card FAQs

Q1. What are the age criteria I need to meet before applying for the Bihar Student Credit Card scheme?
Ans. You should be less than 25 years of age to be eligible for the Bihar Student Credit Card scheme.

Q2. How much loan amount can I get under the Bihar Student Credit Card scheme?
Ans. You can get a loan of up to Rs.4 lacs under the Bihar Student Credit Card scheme. 

Q3. What is the official website that one should visit for this scheme?
Ans. https://www.7nishchay-yuvaupmission.bihar.gov.in/ this is the official website.