Student Credit Card Scheme
Nowadays, pupils want to continue their education at prestigious colleges in various cities or countries. Such students benefit from credit cards since they offer emergency finances and eliminate the need to carry cash.
Aside from that, they offer a no-interest term on purchases and reward points, and even discounts. Key cards, when used appropriately, may truly assist apprentices in managing their monthly budget.
If you are a student and looking for a student credit card scheme, then here is a guide for you in detail.
What is the student’s credit card program?
In this credit card program, some cards are available to college candidates. Because there is no income qualifying limit, any student over 18 is entitled to apply for it.
The validity period is five years and might reduce the interest rates.
What is the key card’s limit for scholars?
Compared to other key cards, it typically has a low limit of up to Rs. 15,000 and is suitable for five years. This prevents you from overspending and sliding into debt.
How can I apply for scholar credit cards?
In India, there are three ways to apply for it:
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Make an application for scholar credit cards with a fixed deposit.
You can apply for it online or in person if you have a fixed warranty in your name. However, the minimum limited deposit amount required to be eligible varies from bank to bank.
Today Hon'ble Chief Minister, West Bengal, has inaugurated Student Credit Card Scheme for students of West Bengal to enable them to pursue education without having any financial constraints. A student can obtain maximum loan of Rs. 10 lakhs @4% pa simple interest. #EducationFirst pic.twitter.com/234IeRm0sS— Banglar Uchchashiksha (@b_uchchashiksha) June 30, 2021
As add-on card, apply for credit cards for students
If a family member has a card, you can apply for it as an add-on card. The principal card’s holder, however, must have a solid credit history to be authorized.
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Apply for apprentice credit cards with a savings account
Some banks will give you student key cards if you have a savings account. If you have a savings bank account with a consistent monthly average amount stipulated by the issuing bank, you can apply for it.
Documents required during the application for undergraduates
- PAN and address proof
- Birth Certificate
- ID issued by university or college
- Passport size photo (recent)
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Banks that provide card’s to undergraduates
HDFC (ISIC card for student)
ISIC is recognized and issued in more than 130 countries worldwide. The card has over 40,000 partners and offers significant discounts on flights, lodging, meals, shopping, international phone calls, and other services. You can also save money on educational software and courses.
Accidental death coverage of Rs 25 lakh (air, rail, and road).
Up to Rs 50,000 in baggage loss insurance
Coverage for lost checked baggage of up to Rs 20,000
Official Website : HDFC Bank
Portal Official Website
SBI (Student plus advantage)
The State bank of India student plus advantage cards is internationally used in over 24 million global locations, including India.
It may be used to pay for power, phone, mobile bills, and insurance premiums. It provides returns up to 2.5 percent of the value price.
Official Website : visit: SBI CARD
Axis (Insta Easy)
It may be obtained with minimal verification and assured approval over the counter at any Axis Bank branch.
Every month, you’ll receive a slew of bonuses, attractive incentives, and exciting deals with the Insta Easy Key cards.
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Please note that issuing an insta easy card requires a minimum Fixed Deposit of Rs 20,000 and a maximum Fixed Deposit of Rs 25 00,000.
Flexi-Deposits (Auto-sweep FDs), Tax Saver Fixed Deposits, and FDs in the name of a HUF/Society/Trust/Company are not eligible for the Insta Easy Cards.
Official Website : Axix Bank
ICICI (FD Cards’)
It is only available to citizens living in India.
Under the FD category, ICICI offers three different forms:
1) Platinum (requires of deposit of 10 000 minimum)
2) Coral (requires of deposit of 30,000 minimum)
3) Rubyx (requires of deposit of 75000 minimum and comes with benefits on travel, entertainment, and lifestyle)
Official Website : ICICI
Key highlights on Student Credit Card Scheme
Scholar cards do not require proof of income and are only offered to college students. It helps to produce a credit score before graduating.
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In this article, we have discussed the various key card offered to students from different banks. There is always a recommendation to go through the details before applying for any of them.
Frequently asked questions
What are the merits of having scholar cards?
Ans) Financial education and resources are available online, via the app, or by phone; support developing good payment habits. Your credit card’s issuer provides it in the form of alerts and reminders.
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Cashback and other rewards geared explicitly toward students are some of the benefits of apprentice cards.
Is it possible to apply for a student credit card scheme without having any income?
Ans) There is no income qualifying limit; any student over 18 is entitled to apply for it.
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