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MNSSBY (Mukhyamantri Nischay Swayam Sahayata Bhatta Yojana) Bihar Student Credit Card is a scheme introduced by the Government of Bihar in India. It aims to provide financial assistance to students pursuing higher education in recognized institutions. The program seeks to enable students to pursue their education without facing financial constraints.
The MNSSBY (Mukhyamantri Nischay Swayam Sahayata Bhatta Yojana) Bihar Student Credit Card scheme has several highlights that make it an important initiative for students in Bihar. Here are the key highlights of the scheme:
The scheme provides financial assistance to students pursuing higher education in recognised institutions. It aims to support students in meeting their educational expenses, including tuition fees, examination fees, books, study materials, and other related costs.
Under the scheme, eligible students are issued a credit card that serves as a financial instrument to access funds for educational purposes. The credit card functions as a revolving credit facility, allowing students to use the funds as and when required.
The MNSSBY Bihar Student Credit Card scheme covers a wide range of courses, including undergraduate, postgraduate, diploma, and vocational programs. Students pursuing courses in government and private institutions can apply for a credit card.
The credit card provides a loan amount based on the course duration and fee structure. The loan amount can vary depending on the course and institution. This enables students to have access to the necessary funds to pursue their education without financial constraints.
The Bihar government offers an interest subsidy on credit card loans. This subsidy helps reduce the interest burden on students and makes education financing more affordable. The government determines the specific details of the interest subsidy, which may be subject to change.
Students have the flexibility to repay the credit card loan after completing their course. The repayment period typically begins after a moratorium period, allowing students to focus on their studies before starting the loan repayment process.
The scheme aims to simplify the application process for students. The application can be submitted online, and the required documents can be uploaded digitally.
The MNSSBY Bihar Student Credit Card scheme empowers students by providing them with the means to pursue higher education without financial constraints.
The following describes the step-by-step process for applying online for the MNSSBY Student Credit Card:
Step 1: Open the MNSSBY’s official website
Step 2: Click on the ‘New Application Registration’ option on the home page.
Step 3: Now, enter all your details like name, email ID, mobile number, and aadhaar number.
Step 4: Select the option of ‘Send OTP’
Step 5: Fill in the OTP you received on your registered mobile number.
Step 6: Once you have applied all the steps given above, your registration process will be completed, and you will get your ID and password on your personal email ID or registered phone number.
Step 7: Now, you need to log in to your account with the received login ID and Password.
Step 8: Once logged in, you need to change your password.
Step 9: You will now be redirected to a new page wherein you need to fill in all of your personal information. After filling in all the information, select the ‘Submit’ option.
Step 10: You will now see a tab of ‘Select Scheme’; hover your mouse over that, and you will see the option of ‘Crediit Cared’, Select that option.
Step 11: Now you need to fill in the details of applicant’s and the co-applicant’s.
Step 12: After filling in all of the financial details, you need to select the option of ‘Submit’.
Step 13: You will now receive the acknowledgment and confirmation on your registered email ID.
The following is a list of the requirements for eligibility for the Bihar Student Credit Card:
The MNSSBY Bihar Student Credit Card Yojana’s primary advantages and characteristics are listed below:
The following is a list of the documents that must be provided to apply for the Bihar Student Credit Card:
Given below is the list of top student credit cards in India in 2023:
|Credit Cards||Type of the Card||Fee (Annually) (INR)||Major Features|
|SBI Student Plus Advantage Credit Card||Credit Card Against Education Loan||Rs. 500||Utilise points to settle an outstanding credit card payment; 1 reward point = Rs. 100|
|ICICI Bank Student Forex Prepaid Card*||Prepaid Card||Rs. 199||20% off of DHL courier service and 40% off of excess baggage
|Paisabazaar Step UP Credit Card||Secured Credit Card||Nil||100% of the fixed deposit amount may be borrowed.|
|Kotak 811 #DreamDifferent Credit Card||Secured Credit Card||Nil||Credit limit up to 90% of the amount of your fixed deposit|
|ICICI Coral Contactless Credit Card||Secured Credit Card||Rs. 500||2 reward points = Rs. 100 spent|
|Top 10 Best Student Credit Cards in India 2023|
|How To Use Your Credit Card Like a Pro|
|Best Travel Credit Card India in 2023|
|Top 10 Fuel Credit Cards in India|
|Kisan Credit Card Scheme|
One needs to register and apply for a student credit card on the MNSSBBY’s official website.
The MNSSBY Bihar student credit card provides a credit of up to Rs. 4 Lakhs.
Yes, you can apply for a Bihar student credit card online.
The limit on student credit cards is up to INR 10 Lakhs.
Yes, one can buy a laptop with a student credit card.
The minimum age limit for acquiring a student credit card is 18 years.
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