Over the years, the expense of education has increased manifold in India. So much so, it often becomes difficult for a working-class household to bear the education expenses for students wishing to pursue higher studies. In this regard, a student credit card can help to meet educational expenses with ease.
The features of such a card include -
A student credit card comes with a credit limit of up to Rs.15,000. A low limit helps to keep the expenses in check and reduces the scope for overspending using this credit card.
The validity of this payment card is generally 5 years.
Since this card is offered to students, the annual fees and other additional charges are minimal.
One of the benefits of availing such a credit card is that it comes with a host of offers and reward points. In this regard, students also can opt for a Bajaj Finserv RBL Bank SuperCard that offers substantial reward points on every transaction, alongside a joining offer.
Nonetheless, before settling for this card, individuals also need to know about the eligibility requirements. For instance, the age of the applicant has to be 18 years and above. Some financial institutions also ask for the following -
Parents of the applicant need to have a fixed deposit with the card-issuing company.
Applicants should start a savings account in their institution.
- and such others.
Besides financial institutions, the Government also offers cards like Bihar student credit card that serves the same purpose of meeting one’s higher education expenses.
