MNSSBY Bihar Student Credit Card: Login & Apply Online

[nikhilchauhan]

Mukhyamantri Nischay Swayam Sahayata Bhata Yojana is a commonly renowned MNSSBY. This MNSSBY Bihar credit card scheme is a drive started by the Bihar Government to promote higher education by offering financial assistance to students. This MNSSBY login portal plays a vital role in the implementation and management of the scheme. This scheme was started for the deprived students to pursue their higher education. The amount sanctioned for pursuing higher education is through a credit card.

This scheme was started in 2016 by the Bihar government and is part of the MNSSBY which aims to help students to pay their fees. This scheme provides a loan of up to INR 4 lakh at affordable rates.

Features of the MNSSSBY Bihar Student Credit Card Scheme are specified below:

• This MNSSBY scheme is relevant for students who have passed 12th grade from the Bihar Board or educational institutions.
• This scheme offers a loan up to INR 4 lakh and this amount can be utilized for pursuing higher education like polytechnic, B.Tech., M.B.B.S, B.Sc., and B.A. However, the above-mentioned loan can also be utilized for the purchase of study materials like books, laptops, and stationery, or for fees.
• The interest chargeable on this scheme is low at 4%. The interest in this scheme for females and transgender is reduced by 1%.
• This scheme offers flexible payment terms to the students after they complete the course and get of job. However, if the student opts for a B.Sc course for three years, then the student has to repay the loan during the three years of the course.

Eligibility Criteria for MNSSBY

• The student must be an occupant of Bihar state.
• The age of the student must be above 25 years.
• The student has completed and passed the 12th Class.
• The student must have enrolled for higher education at recognized educational institutions.

Documents Required for MNSBBY Scheme

• The student must provide Identity proof like an Aadhar Card, PAN Card
• The income certificate of the family
• The student must provide mark sheets of class 10th & 12th.
• The student must provide a residence certificate.
• The student must provide proof of admission in recognized institutions.

Application Process for MNSSBY login.

• The applicant must check out the official website of the MNSSBY Bihar credit card scheme.
• Click on New Application registration.
• The user must enter the required details like name, Email ID, Aadhar Number, mobile number, etc in the MNSSBY login portal.
• After confirmation, complete the registration click on option ‘Send OTP' enter the OTP and then submit.
• On successful completion, the login details will be received via Email and SMS.

Significance of MNSSBY Bihar Student Credit Card Scheme

• Ease of Access

This portal provides a streamlined and user-friendly platform for students to apply for student credit card schemes. Thus, this portal provides a simple application process, making it accessible for students.

• Tracking and Monitoring

The portal allows the students to track the application status in real time. Therefore, transparency helps in reducing uncertainty among students regarding loan applications. The students can track their loan repayment schedule and ensure their payments easily.

• Convenience

The online portal can be accessible at any time from any place and manage their loans without applying to office hours. Thus, a digital platform reduces the requirement of paperwork and makes the process more efficient for students. Due to this convenience, students can manage efficiently and effectively.

• Security

The platform ensures the security and confidentiality of student’s financial information. This portal is vital for protecting sensitive data from unauthorized access. Security issues are efficiently managed by these platforms for students.

• Promotes Higher Education

This platform spreads awareness about the scheme that encourages students to take advantage of financial support. Thus, this platform supports higher education with this scheme and can improve their poverty situation.

FAQ

1. Who can be qualified for a student credit card in Bihar?
Ans: The age of the student must be above 25 years and must have completed and passed the 12th class. The student should enrol for higher education courses at recognized educational institutions.

2. What rate of interest is charged by Bihar Student credit card?
Ans: The rate of interest charged by Bihar Student credit card is 4%, and a 1% concessional rate is available for females, transgenders, and disabled individuals. However, the interest rate is calculated on a simple interest basis.

3. Is it possible that a student can buy a laptop with a Bihar Student credit card?
Ans: Under the MNSSBY scheme, the students can buy laptop without any issues. However, this credit card can be used for funding study materials, books, stationery and even payment for education fees.

4. How much student credit card loan be available under this scheme?
Ans: The student can get a loan of INR 4 lakh under this MNSSBY Bihar student credit card Yojana.

So, we can conclude that the MNSSBY Bihar student credit card login portal is an efficient and effective tool for the administration of credit cards. This portal simplifies application processes, increases transparency, and offers secured platforms for financial transactions. The Bihar government supports students in pursuing higher education and helps them in achieving their career goals.