Guruji Student Credit Card Loan Scheme was started by the Jharkhand State Government for those students who have completed their Class X or XII from a recognized school in the state and secured admission into a recognized institute listed under this scheme. Eligible candidates will get a loan of up to INR 15,00,000 at an annual nominal interest rate of 4% with no collateral. This loan scheme is mainly designed to help the candidates facing financial limitations to pursue higher education.
Eligibility Criteria of Guruji Student Credit Card Loan Scheme
These are some important eligibility criteria for the Guruji Student Credit Card Loan Scheme:
- This loan scheme is available only for the Indian nationals domiciled in Jharkhand.
- Age of the applicant should not be more than 40 years old at the time of applying.
- Applicant must have completed their Class X & XII from a recognized institute/school.
- Applicant must be pursuing a diploma, UG, PG, PhD, or higher-level courses from a recognized institute or university within or outside Jharkhand.
- They must have secured admission to one of the following institutions ranked up to 200 in the overall NIRF Ranking list, up to 100 in their respective individual category, or accredited with a grade “A” by NAAC. These are the institutes can be located within or outside the Jharkhand state: IIT, IIM, IIEST, ISI, NLU, AIIMS, NIT, XLRI, IISc, BITS, SPA, NID, IIFT, ICFAI Business School.
Guruji Student Credit Card Loan Scheme – Benefits
Selected candidates will get a maximum loan of INR 15 Lakhs at a subsidized interest rate of 4% per annum. This loan scheme offers a one-year moratorium or repayment holiday, whichever comes first.
Guruji Student Credit Card Loan Scheme – Important Documents
These are some of the important documents needed to apply for the Guruji Student Credit Card Loan:
- Photograph of the applicant and co-applicant.
- Signature of the student and co-borrower
- Aadhaar Card
- PAN Card
- Admission receipt of student
- Class X & XII Marksheet
- Address Proof of Co-Applicant
- The prospectus of the course, that includes the admission fee, examination fee, hostel charges, etc.
Guruji Student Credit Card Loan – Step by Step Guide to Apply
To apply for the Guruji Student Credit Card Loan Scheme, simply follow the instructions mentioned below:
- Visit to this link gscc.jharkhand.gov.in and click on “Registration”.
- You have to provide the required details on the given field, such as name, mobile number, email ID, etc.
- Complete the captcha verification and then select the “Register” option.
- After completing the registration, fill up the application form with the required details.
- You have to attach all the necessary documents as specified.
- Check the information carefully, apply, and await approval.
- Once your application gets approval, the loan amount will be disbursed through the associated bank.
FAQs: Guruji Student Credit Card Loan Scheme
Q: What is the Guruji Student Credit Card Scheme?
A: Guruji Student Credit Card (GSCC) Loan Scheme is offered by the Government of Jharkhand. It is the financial aid to the students who have completed Class X education and want to pursue higher education. With this loan scheme, applicants will get collateral-free education loans up to INR 15 Lakh.
Q: Does this program use the EBLR for a specific loan category offered by the State Bank of India or any general EBLR?
A: Education loans are provided at a floating interest rate based on the EBLR of the State Bank of India with an additional markup of 1.5%. Female candidates will get a discount of 0.5% on the interest rate.
Q: Is this scheme available for all courses offered by the listed institutions or only specific programs?
A: The Guruji Student Credit Card Loan Scheme shall be available for pursuing education in IITs, IIMs, IIESTs, ISIs, NLUs, AIIMSs, XLRI, BITS, SPA, NID, IIFTs, etc.
