Himachal Pradesh Sashakt Mahila Rin Yojana

Scheme Introduction: A Brief Overview

Himachal Pradesh Sashakt Mahila Rin Yojana is a collateral-free loan scheme that the Himachal Pradesh State Co-operative Bank (HPSCB) runs for women of the state who want to stand on their own feet financially. The scheme gives a woman small, easy credit without asking her to mortgage land, gold, or any other asset. She can use the money to start a micro-enterprise, expand a livelihood activity, take up agricultural work, or buy machinery and equipment for her business. The scheme has been designed to provide hassle-free and liberal credit facilities to women so that they can generate self-employment resources and earn a livelihood.

The biggest strength of this scheme is its step-by-step credit ladder. A woman first receives a loan of Rs 21,000. On repaying this loan on time, she becomes eligible for the next loan of ₹51,000 and then ₹1,01,000. To move to the next stage, the borrower has to clear the running loan without default after 12 months but within 15 months. This graded structure builds a genuine credit history for women who have never borrowed from a formal bank, and it rewards honest repayment instead of demanding property as security.

The bank charges interest at 8.51 per cent per annum, which keeps the monthly burden low. The EMI works out to Rs 431 for the Rs 21,000 loan, Rs 1,047 for the Rs 51,000 loan, and Rs 2,073 for the Rs 1,01,000 loan. The maximum repayment tenure is five years, and the bank does not ask for any margin money. The spouse of the woman borrower stands as the guarantor for the loan, and no other collateral security is required.

Any woman between 18 and 55 years of age can apply, provided two savings accounts of her family are maintained with the Himachal Pradesh State Co-operative Bank. The scheme also carries an added benefit: when all members of the family open their accounts with the bank, the bank waives ATM charges fully. Along with credit, the bank encourages women borrowers to enrol in social security schemes such as Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY), so that the family stays protected while the business grows.

Under this scheme, a woman does not need to apply online; she simply visits her nearest HPSCB branch, completes the account and loan formalities, and submits her application there. For any query about eligibility, EMI, or branch location, the bank operates a toll-free helpline at 1800-180-8090.

Scheme Benefits

The benefits of the scheme go beyond the loan amount. The bank has kept the interest rate low, removed the collateral condition, and fixed an EMI that a small home-based business can comfortably pay. The key benefits are given below.

• First loan: Rs 21,000, with an EMI of Rs 431 per month.
• Second loan: Rs 51,000, with an EMI of Rs 1,047 per month, sanctioned after full repayment of the first loan.
• Third loan: Rs 1,01,000, with an EMI of Rs 2,073 per month, sanctioned after full repayment of the second loan.
• Interest rate: 8.51 per cent per annum.
• Repayment period: Maximum five years.
• Collateral: Not required. The loan stays fully collateral-free.
• Margin money: Not required.
• Guarantee: The spouse of the woman borrower guarantees the loan.
• ATM charges: Waived 100 per cent when all family members open their accounts with HPSCB.
• Social security: Borrowers get the facility to enrol in PMJJBY and PMSBY.

Loan Amount and EMI Structure

The bank releases credit in three stages, and each stage depends on the repayment record of the previous one. The table below shows the complete structure at a glance.

Eligibility Requirements

The eligibility conditions under this scheme stay simple, because the government wants ordinary women of the state to reach the bank counter without hesitation. A woman must fulfil the following conditions.

• The applicant must be a bonafide woman of Himachal Pradesh.
• Her age must fall between 18 years and 55 years.
• Two savings accounts of her family must be maintained with the Himachal Pradesh State Co-operative Bank.
• Her spouse must agree to stand as the guarantor of the loan.
• She must use the loan for a permitted purpose - livelihood activity, micro-enterprise, self-employment, agricultural activity, or purchase of machinery and equipment for business.
• For the second and third loans, she must have repaid the earlier loan in full without any default, after 12 months but within 15 months.

Permitted Use of the Loan

The bank sanctions this loan for productive purposes that generate income for the family. The approved end-uses are listed below.

• Livelihood activities.
• Micro-enterprise for self-employment.
• Agricultural activities.
• Purchase of machinery and equipment for business activities.

Documents Required 

The Himachal Pradesh State Co-operative Bank verifies the applicant through the accounts and KYC records already available with it, and the loan file is completed at the branch itself.

• KYC records of the applicant as maintained by the branch.
• Details of the two family savings accounts held with HPSCB.
• Consent and details of the spouse, who stands as guarantor.
• Loan application form as provided by the branch.

Steps to Apply

The bank accepts applications under this scheme only through its branches. There is no separate online portal for the scheme, so a woman has to visit the branch where her family maintains its accounts. The complete process is explained below, step by step.

• Visit the nearest branch of the Himachal Pradesh State Co-operative Bank in your district.
• Ensure that two savings accounts of your family are open and operational with the bank. If they are not, open them first and complete the KYC formalities.
• Ask the branch official for the Sashakt Mahila Rin Yojana loan application form and tell them the purpose for which you need the loan.
• Fill the form with your personal details, family account details, and the proposed activity for which you will use the money.
• Get the guarantee portion signed by your spouse, since the loan runs on a spouse guarantee instead of collateral.
• Submit the completed form with the documents the branch asks for.
• The branch verifies your accounts, KYC, and repayment capacity, and then processes the sanction.
• After sanction, the bank credits the loan amount to your account and hands over the repayment schedule showing the EMI and due dates.
• A clean repayment record makes you eligible for the next higher loan of Rs 51,000 and later Rs 1,01,000.

Renewal and Next Loan Process

The scheme does not work on a yearly renewal system. Instead, it works on a repayment-linked upgrade, and the borrower moves to a higher loan only after clearing the earlier one. The process runs as follows.

• Repay the first loan of Rs 21,000 fully, without default, after 12 months but within 15 months.
• Approach the same branch after clearing the loan.
• The branch checks the repayment record and sanctions the second loan of Rs 51,000.
• Repay the second loan of Rs 51,000 in the same manner - without default- after 12 months but within 15 months.
• The branch then sanctions the third loan of Rs 1,01,000.

Additional Facilities for the Family

The bank attaches a few extra facilities to this scheme so that the whole family gains from banking with HPSCB, not just the woman borrower.

• 100 per cent waiver of ATM charges when all family members open accounts with the bank.
• Facility to enrol in Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY).
• Facility to enrol in Pradhan Mantri Suraksha Bima Yojana (PMSBY).

Relevant Links

• Himachal Pradesh State Co-operative Bank Limited Portal
• Guidelines of Himachal Pradesh Sashakt Mahila Rin Yojana

Contact Information

• Himachal Pradesh State Co-operative Bank Limited District Contact Details
• HPSCB Toll-Free Number: 1800 180 8090
• HPSCB Helpdesk Email: [email protected]