The Bhabishyat Credit Card is a government-backed credit card scheme launched by the Government of West Bengal in India. The scheme aims to provide collateral-free loans of up to Rs. 5 lakh to young entrepreneurs in the state aged between 18 and 45 years. The card can be used to set up new ventures or micro-enterprises in manufacturing, service, trading, agro-based activities, and business.
Key features of the Bhabishyat Credit Card:
- Loan amount: Up to Rs. 5 lakh
- Interest rate: 6% per annum
- Repayment tenure: Up to 7 years
- Margin money: 10% of the loan amount
- Security: No collateral required
- Processing fee: Rs. 1,500
Eligibility criteria for the Bhabishyat Credit Card:
- Age: 18 to 45 years
- Domicile of West Bengal
- Educational qualification: Minimum 10th pass
- Annual family income: Not more than Rs. 2 lakh
- Business plan for the proposed venture
How to apply for the Bhabishyat Credit Card:
- Applicants can apply online through the official website of the scheme.
- The application form can also be obtained from the offices of the District Magistrate (DM) or the Block Development Officer (BDO).
- The duly filled-in application form along with the required documents should be submitted to the DM or BDO office.
Documents required for applying for the Bhabishyat Credit Card:
- Proof of age
- Proof of identity
- Proof of address
- Proof of educational qualification
- Proof of income
- Business plan
Benefits of the Bhabishyat Credit Card:
- Collateral-free loan
- Low interest rate
- Long repayment tenure
- No processing fee for online applications
- Subsidy on interest for women entrepreneurs
The Bhabishyat Credit Card is a good scheme for young entrepreneurs in West Bengal who are looking to start their own businesses. The scheme offers a number of benefits, including collateral-free loans, low interest rates, and long repayment tenure.
