Student Credit Card
Student Credit Card

Best Student Credit Cards India | How To Apply | Online 2021

As a student, you do not have any income source or required credentials to get a credit card & often feel the need for a credit card for fulfilling your essential need. The solution to the problem is Student credit Card

Here is a comprehensive guide on student credit card

Image of Student studying on laptop and student credit card is displayed on the side

 What is a Student Credit Card?

 A student credit card is one alternative to get a credit card without income eligibility. A student credit card is a credit card that is offered to students generally at the college level. Such cards have zero joining fees and a very low interest rate.

These cards are offered to students without any employment proof and income tax returns.

What should be considered before applying for a Student Credit Card?

Before applying for a student credit card, you should self assess your requirement for such a credit card.

A student should use such cards responsibly to fulfil only essential requirements (Such as books, tuition fees, stationery & daily need) and avoid overuse for luxury.

Remember it is a Credit card and whatever you spend has to be repaid within a given credit time limit.

While choosing a student credit card you should consider the following points: –

  1. Joining fees & annual renewal fees (Generally it is zero)
  2. Compare interest rates of different cards.
  3. Credit Time Period
  4. Penalty imposed if minimum amount due is not paid on time.

Types of Student Credit Card

The concept of student credit cards is not widely popular in India. As it is a new concept there is a very limited type of student credit card. It can be categorised as follows:-

  1. Card for education loan customer
  2. Credit card against Security
  3. As an Add on card (with Primary Card)
  4. Student Credit Card issued under state government scheme. (Such as Bihar State Government & West Bengal State Government)

List of Top Student Credit Cards

List of some of the top student credit cards and their issuing bank are:-

1State Bank Of IndiaSBI Student Plus Advantage Credit Card
2HDFC bankISIC Student Forex Plus Card
3ICICI BankStudent Forex Prepaid Card
4HDFC BankHDFC Multicurrency Platinum ForexPlus Chip Card
Images of different student credit cards

SBI Student Plus Advantage Credit Card

  • Issued by the State Bank of India (SBI) to student who have availed an education loan from the SBI.
  • Joining Fees is Zero.
  • Interest rate on outstanding amount is 2.25% per month.
  • For every ₹100 spent you will get 1 reward point.
  • Fuel surcharge waiver of 2.5%.
  • Spend-based annual fee waiver.

ISIC Student Forex Plus Card

  • This card is useful for students who study abroad and require multiple currency
  • It is available in the three currencies – USD, Euro and GBP
  • You can get money from ATMs in the desired local currency during travel
  • No need to worry about forex fluctuations in these currencies
  • You can reload by net banking anywhere in world
  • Accepted as student identity card world wide
  • Can be used at establishment which accept VISA/MasterCard
  • Its Issuance fees is ₹300 & reload fees is₹75

To get an ISIC Student ForexPlus card, you will need the following documents:

  • Card application form (Aadhaar number is mandatory to be mentioned)
  • University Identity Card / Admission Letter
  • A photocopy of your passport
  • Passport size photograph with white background
  • Photocopy of Visa or Ticket (for non-HDFC Bank customers)


ICICI Student Forex Prepaid Card

  • Joining fee – INR 499
  • Annual fee – INR 199
  • Can be used for paying fees or meeting expenses when studying abroad becomes an easy process
  • To buy your ICICI Bank Student Forex Prepaid just log in to iMobile app or visit the nearest ICICI Bank Forex Branch.


HDFC Multicurrency Platinum ForexPlus Chip Card

  • For students pursuing studies Abroad
  • This card can be applied by anyone..
    With application form applicant has to submit following credentials :-
  • Self-authenticated copy of valid passport
  • Self-authenticated copy of valid VISA or ticket
  • Address proof
  • Additional documents needed for non-HDFC Bank customers:
    • Cancelled cheque/passbook/recent bank  statement
    • Copy of statement – showing application payment for ForexPlus card
  • Students studying abroad can comfortably access their funds in 20 foreign currencies.
  • Issuance Fee : INR 500/- plus Tax
    Reload Fee : INR 75/- plus Tax
Image of Student Credit Card

Student Credit Card Scheme for the students of West Bengal

The Higher Education Department, Government of West Bengal has presented the Student Credit Card Scheme for the Students of West Bengal to empower them to seek higher studies without any financial barriers.

This scheme is designed to support the students to pursue secondary, higher secondary, madrasah, undergraduate and postgraduate studies including professional degrees and other equivalent courses within and outside India.

Students studying in various coaching institutions for appearing in different competitive examinations like IIT. Engineering, Medical, Law(CLAT), CA, IAS, IPS, WBCS etc, can also avail the loan under this scheme.

A student from West Bengal can gain the most loan of Rs. 10 lakhs @ 4% per annum easy interest from the state Cooperative financial institution and its affiliated valuable Cooperative Banks and District important Cooperative Banks and Public/ non-public quarter Banks.

1% interest concessions are going to be provided to a borrower if the interest is fully serviced during the study period

The maximum age limit for the interested students has been kept as 40(forty) years at the time of applying for a loan.

The repayment period shall be 15 years for any loan availed under this Credit Card including the Moratorium/ repayment holiday.

For more details, you can log into the WBSCC site

 Process of how to apply for the Student Credit Card Scheme for the students of West Bengal can be downloaded from the following link:-

Student Credit Card Scheme for the students of Bihar

Under this scheme, a loan of up to 4 lakh rupees should be provided by the state government to the underprivileged 12th pass students of Bihar state for getting higher education

Under the Student Credit Card Scheme, no interest will be payable to the borrower.

The scheme will benefit the scholars of the state who are originally from a poor background and wanting to complete their education.

Eligibility for Bihar Student Credit Card Scheme

  • Applicant must be a permanent resident of the state of Bihar.
  • The educational institution where the student is from is recognized by the state or central government related regulatory agency.
  • Under the Student Credit Card Scheme 2020 , students will be given loans for higher education for general courses, technical or professional programs.
  • Students of the state should be 12th pass under this scheme.

How to Apply Online

  • Go to  Department of Education, Planning and Development Department and Department of Labor Resources.
  • On this home page, you will see the option of New Applicant Registration , you have to click on this option. After clicking on the choice, subsequent page will open on the pc screen ahead of you.
  • On this page, you will open the registration form, in this form you will get all the information you asked for, such as applicant’s name, email id, Aadhaar card number, mobile number, click on YES if the appliance is formed from Vasudha center alternatively select NO. . *Please enter the OTP sent on your mobile *, please enter the OTP sent on your email ID.
  • After filling the personal details you have to submit. After submitting you will have to open the other 3 options. The other option is to select the student credit card option after which a new application form will open. After which the application You have to fill in the information and details asked. Then you have to submit it using the submit button.
  • After submission of the application form, students will be given a unique identification number. This unique ID number will be sent to their mobile number and email ID.
  • Students will also get a PDF copy of the submitted application form and a description of the required documents on their e-mail ID Application forms and documents are going to be required at the counter
  • After which Students will be informed on their mobile number and email ID on which day to go to the counter, where the rest of the process has to be completed.

You may also like to read The 10 Best Personal Finance Tips | How To Build Wealth

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Pros and Cons of having a Student Credit Card


  • You can build a good credit history by repaying due amount on time which will help you to get loan after your studies
  • You will learn to manage your expenses
  • You can earn rewards (Some student credit card gives reward points on the basis of your spending)
  • Full fill your monetary needs on time


  • Penalties and high interest are imposed if due is not paid on time.
  • Can damage your credit score if dues are not settled on time.
  • Overspending can lead to debt trap.

Frequently Asked Questions (FAQ)

  • Can a CBSE student apply for student credit card?

Students of any board (CBSE/ICSE/State Board etc.) can apply for student credit card

  • Can a student hold multiple student credit cards?

No, students can hold anyone student credit card at a time.

  • Can I get a student credit card without a job & Income?

Yes, Student credit cards are designed for students and they are not expected to have a job or income proof.

  • How to apply West Bengal student credit card loan for study in abroad?


  • What is the official website for the registration of students under the West Bengal Student’s Credit Card Scheme?

Visit the official website for the Higher Education Department or and click on tab STUDENT CREDIT CARD or visit

  • How much take time complete all process in West Bengal student credit card?

After successfully applying for a Student credit card, it may take 30 to 45 working days for verification and sanction of SCC. (Time may vary from bank to bank)

  • List of the private bank from where WB student credit card loan allotted

All major Private/ Public/co-operative banks are authorised to provide WB SCC loans. You can select the bank from a drop-down box while applying.

  • Is there any marks percentage criteria for applying loan in the  West Bengal SCC scheme?

No, there is no marks or minimum percentage criteria

  • How to edit my required loan amount in WB student credit card scheme?


  •      How to edit my details in the West Bengal Student credit card scheme application.

The student has to contact the State Help Desk (Toll-free number: 18001028014) and send an e-mail to the support mail ID [email protected] or [email protected] with Aadhar card number or Class X registration number if no Aadhar card.


The student credit card provides financial assistance to students in need. But such cards should be used responsibly.

Dues should be cleared on time & the use of student credit cards should be limited for essential needs.

Hope you find the article useful   


Anish is post graduate in commerce & management. He is a qualified Chartered Accountant & Information System Auditor with experience of more than 20 years in the field of management, accounting & taxation. He is visiting the faculty of various universities and providing career advice to aspirants Anish Agrawal has authored many books on Accountancy & Taxation.

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