The Himachal Pradesh Minorities Finance & Development Corporation (HPMFDC) offers various welfare-oriented financial schemes for the economic, educational, and social upliftment of minority communities in the state. Registered as a not-for-profit under the Companies Act, 1956, and functioning as the State Channelizing Agency (SCA) for NMDFC and NHFDC, the Corporation facilitates self-employment and education loans to support sustainable livelihoods and access to quality education both in India and abroad.
Highlights of HP Self-Employment & Education Loans
• Name: HPMFDC Loan Schemes (Self-Employment & Education)
• Launched by: Himachal Pradesh Minorities Finance & Development Corporation
• Loan Type: Term loans for self-employment and education
• Interest Rate: 6% (Self-employment), 3% (Education)
• Maximum Loan Amount: ₹5 Lakhs (Self-employment), ₹10 Lakhs (Education)
• Eligible Age: 16–32 years for education, 18–55 years for general eligibility
• Communities Covered: Sikhs, Muslims, Christians, Buddhists, Jains, and Parsis
Key Benefits
• Self-Employment Loans:
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Loans up to ₹5 lakhs
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6% interest rate
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Repayment period: 5 years
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For income-generating activities and small business ventures
• Education Loans:
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Loans up to ₹10 lakhs
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3% interest rate
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For technical/professional studies (MBA, MBBS, Engineering, LLB, B.Ed, JBT, Nursing, Hotel Management, etc.)
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Applicable for both India and abroad
Eligibility Conditions
• Must belong to a recognized minority community in Himachal Pradesh (Muslim, Sikh, Christian, Buddhist, Jain, Parsi)
• Annual family income must be:
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Below ₹98,000 (Rural areas)
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Below ₹1,20,000 (Urban areas)
• Age Limit: -
16 to 32 years for education loans
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18 to 55 years for self-employment and other loans
• Must be a bonafide Himachali, with supporting certification
How to Apply – Offline Process
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Obtain the prescribed application form from the HPMFDC office or the district minority welfare office.
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Fill in the required details and attach all necessary documents.
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Submit the completed form to the executive magistrate or concerned department.
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On successful verification, loan approval and disbursement will be initiated.
Necessary Documents for Application
• Caste Certificate (Minority community proof)
• Income Certificate
• Age Proof (Birth certificate/school certificate)
• Himachali Certificate issued by the Executive Magistrate
Frequently Asked Questions (FAQs)
Q: What is the full form of HPMFDC?
A: Himachal Pradesh Minorities Finance & Development Corporation.
Q: What is the term loan scheme for minorities?
A: It offers financial assistance for self-employment or professional education at subsidized interest rates.
Q: Who is considered a minority in Himachal Pradesh?
A: Muslims, Sikhs, Christians, Buddhists, Jains, and Parsis.
Q: What is minority status?
A: It refers to communities notified under the National Commission for Minorities Act who are eligible for special schemes and welfare benefits.
Q: What is the age limit for educational loans?
A: Applicants should be between 16 and 32 years old for education loans.
Q: Are there self-employment opportunities under this scheme?
A: Yes, individuals can receive loans up to ₹5 lakhs to start income-generating ventures.
References & Useful Links
• Himachal Pradesh Government Official Portal
• HPMFDC Guidelines and Application Forms – Available at District Offices
• National Minorities Finance & Development Corporation (NMDFC)
