Himachal Pradesh Education Loan Scheme – Up to INR 20 Lakh Credit for Disabled & Minority Students

HP Education Loan Scheme is an initiative by the Government of Himachal Pradesh for students belonging to religious minority communities and Persons with Disabilities (PwD) categories. Qualified students from both these categories can obtain educational loans from any Himachal scheduled bank for up to INR 20 lakh at a nominal interest rate of 3% and 4% respectively. 

Scholarship Registration and Login

The Himachal Pradesh Education Loan Scheme is applicable to undergraduate and postgraduate professional/technical courses, as well as other courses approved by the University Grants Commission (UGC), the Government of India, or the All India Council for Technical Education (AICTE). The scheme extends its benefits to minority communities residing in Himachal Pradesh, such as Muslims, Sikhs, Buddhists, Christians, and Parsis.

The program is an initiative of the National Minorities Development and Finance Corporation (NMDFC) and the National Handicapped Finance and Development Corporation (NHFDC).  Under the scheme, the NMDFC (National Minorities Development & Finance Corporation) provides loans to the SCA (State Channelizing Agency) to the Himachal Pradesh Minorities Finance & Development Corporation (HPMFDC) at an interest rate of 1%. Further, the SCA lends this money to beneficiaries (individuals or groups who are eligible for NMDFC loans) at an interest rate of 3%.

Similarly, the NHFDC provides the SCA with funds at an interest rate of 1%. The SCA then lends that money to students with disabilities at an interest rate of 4%, while also offering a 1% rebate to female students with disabilities (PwD).

This article provides crucial information about the scheme, such as who is eligible, what the benefits are, what documents are needed, what the loan terms are, how to repay the loan, and how to apply.

HP Education Loan Scheme – An Overview 

Name of Scheme  HP Education Loan Scheme
Provider Government of Himachal Pradesh 
Website  minority.hp.gov.in
Beneficiaries  Students belonging to religious minority communities (Muslims, Sikhs, Buddhists, Christians, and Parsis) and students with disabilities 
Amount a) INR 10 Lakh for studying at Indian institutions

b) INR 20 Lakh for studying at foreign institutions

Application Timeline Around the year 
Interest Rate  Up to 4%
Repayment Time  Up to 7 years

HP Education Loan Scheme – Benefits

Here is an extensive compilation of advantages that students hailing from Himachal Pradesh can avail through this program:

Career Assessment Test

  • Education Loan – The scheme aims to facilitate a maximum loan amount of INR 10 lakh for courses within India and INR 20 lakh for courses pursued abroad. For professional and technical courses, the loan disbursement is capped at INR 4 lakh per year.
  • Interest Rate – The interest rate for education loans is 3% for students belonging to minority communities, while it is 4% for male PwD students. Additionally, female PwD students are eligible for a 1% rebate on the interest rate.  
  • Loan Repayment Time – For students from minority communities, the loan repayment period starts after 5 years of completing their course. In contrast, for students in the PwD category, the loan repayment period begins after 7 years of course completion.

HP Education Loan Scheme – Eligibility

Below is a concise checklist of key points to determine eligibility for the Himachal Pradesh Education Loan Scheme:

  • The applicant must be an Indian citizen and have a domicile in Himachal Pradesh.
  • Students belonging to minorities and PwD categories can apply for this scheme.
  • The annual family income should not exceed INR 81,000 for students belonging to rural areas and INR 1,03,300 for urban areas from all the sources (only for students belonging to religious minority communities).
  • For applicants from minority communities, the age limit ranges from 18 to 55 years. On the other hand, students with disabilities must be above 18 years of age to be eligible for the scheme. 
  • For students with disabilities (PwD), the significant disability level is considered to be 40% or above, and a medical certificate must be provided to prove this.
  • The applicants should not have any history of defaulting on payments to government or semi-government banks/institutions.
  • The beneficiary is required to contribute 5% of the total loan amount as margin money*, while the remaining balance is contributed by the SCA as the state share.

*Margin money is a student’s own contribution towards the total education expenses when applying for a loan. It is a specific amount that borrowers allocate as their personal investment. 

HP Education Loan Scheme – Documents Required 

To avail of the benefits of the Himachal Pradesh Education Loan Scheme, applicants need to submit specific documents as per the requirements. 

  • Education loan application form – This form can be obtained from the designated bank or financial institution. It must be filled out accurately and completely with all the necessary details.
  • Mark sheets of the last qualifying examination – Applicants are required to provide the mark sheets or transcripts of their most recent academic qualifications to demonstrate their educational background and eligibility for the loan.
  • Proof of scholarship/studentship – Applicants who have received scholarships, studentships, or other forms of financial assistance from the government or private organizations are required to submit relevant documents as proof of their awards.
  • Expenses for the specified courses – A detailed breakdown of the expenses associated with the chosen course or program should be provided. This may include tuition fees, accommodation charges, book costs, and other related expenses.
  • Passport-size photographs – Two recent passport-size photographs of the applicant need to be submitted for identification purposes.
  • Bank account statements – The bank statements for the past six months should be provided to verify the financial standing and transaction history of the borrower.
  • Income tax assessment – Applicants must submit their income tax assessment orders for the past two years to verify their income and financial stability.
  • Statement of assets and liabilities – If a co-borrower is involved, a statement detailing their assets and liabilities should be provided to evaluate their financial capacity.
  • Proof of income – Documents such as salary slips or form 16 should be submitted as evidence of the borrower’s income and employment status.

Application Form Links for Required Documents

Application Form For Minorities

Buddy4Study - Education Loan

Application Form for Persons with Disability

Note: To obtain a comprehensive understanding of the documents needed as income proof in India, kindly refer to this detailed guide.

HP Education Loan Scheme- What Expenses Does It Cover? 

This scheme covers expenses such as tuition fees, tour costs, and other related expenditures incurred while pursuing professional/technical courses at the undergraduate and postgraduate levels. Below are the details of the expenses that will be covered under this scheme:

  • Fees payable to hostel/college/school
  • Laboratory, examination, and library fees 
  • Purchase of books, equipment, instruments and uniforms 
  • Caution deposit, building fund, refundable deposit (maximum 10% of tuition fees for the entire course) 
  • Travel expenses and passage money to study abroad 
  • Purchase of laptop/computers (if considered necessary for the completion of course) 
  • Cost of a two-wheeler up to INR 50,000
  • Other expenses like study tours, project work, assistive devices etcetera 

HP Education Loan Scheme – Rate of Interest, Maximum Loan & Repayment Time 

The interest rate for HP Education Loan varies depending on the category of students. Please refer to the table below to find details on the interest rate, maximum loan limit, and repayment period:

HP Education Loan Scheme - Rate of Interest

Note: The applicants must submit the collateral security, which should be equivalent to the loan amount. Furthermore, in the case of government employees, applicants need to deposit an amount that is 15 times of the net monthly salary (in-hand salary). 

HP Education Loan Scheme – How to Apply?

Students can apply for the Himachal Pradesh education loan through online and offline modes. Hereunder are the steps that must be followed by students while applying for the scheme:

1. Visit the official website: minority.hp.gov.in.

HP Education Loan Scheme - How to Apply

2. Click on the ‘Application Form for Minorities’ or ‘Application Form for Persons with Disabilities.’

HP Education Loan Scheme - Application Form

3. Download the application form. 

4. Fill in the important details in the application form.

5. Attach the required documents.

6. Submit the application form to the H.P. Minorities Finance and Development Corporation or HP Handicapped Finance and Development Corporation’s official address.

Important Note: Applicants are required to deposit INR 5,000 for the Himachal Pradesh Education Loan Scheme specifically for studying abroad, which will be adjusted as part of the margin money.

H.P. Minorities Finance and Development Corporation – Contact Details 

H.P. Minorities Finance and Development Corporation 

Address – SDA Complex Block No.38, First Floor, Kasumpti SHIMLA – 171 009 HIMACHAL PRADESH

Phone Number – 0177-2622164

To stay updated with scholarship-related information

Detailed information on Himachal Pradesh education loan scheme

HP Education Loan Scheme – FAQs

What is the Himachal Pradesh education loan scheme?

This scheme is an initiative by the Himachal Pradesh government to provide financial assistance to religious minority and PwD students. Furthermore, eligible students can get education loans of INR 10 lakh (study in India) and INR 20 lakh (study abroad) at a maximum interest rate of 3% (religious minority communities) and 4% (PwD) respectively.

What courses are covered under the Himachal Pradesh education loan?

The scheme covers a wide range of courses consisting undergraduate, postgraduate, professional, technical and vocational courses in India and abroad.

What is the interest rate for the HP Education scheme?

Students belonging to minority communities can obtain an education loan at an interest rate of 3%. Male students with disabilities are eligible for an education loan at an interest rate of 4%. Additionally, female students with disabilities will be granted a 1% rebate on the interest rate.

What is the role of SCAs in the HP education loan scheme?

As part of the Education Loan Scheme, the National Minorities Development and Finance Corporation (NMDFC) and the National Handicapped Finance and Development Corporation (NHFDC) provide funds to the State Channeling Agency (SCA), which in this case is the Himachal Pradesh Minorities Finance & Development Corporation (HPMFDC), at an interest rate of 1% for the purpose of making them available to students. The funds are subsequently lent by the SCA to students belonging to minority categories at an interest rate of 3%. In a similar manner, the NHFDC provides funds to the SCA at an interest rate of 1%. The SCA, in turn, disburses funds to students with disabilities at an interest rate of 4%, while also granting a 1% rebate to female students.

How much loan can I get under the Himachal Pradesh education loan scheme?

Eligible students are provided with an education loan of up to INR 10 lakh for studying within India and INR 20 lakh for studying abroad.

What type of expenses are considered under the HP Education Loan Scheme?

The loan covers expenses such as tuition fees, hostel fees, examination fees, purchase of books/equipment/uniforms, caution deposits, travel expenses for studies abroad, and the cost of necessary computers or two-wheelers.

Is there any margin money or deposit required for the HP education loan?

Yes, students are required to deposit an amount of INR 5,000, which will be adjusted as margin money towards the loan. Furthermore, in the case of government employees, applicants need to deposit an amount that is 15 times the net monthly salary (in hand salary).


  1. Source of Information: Buddy4Study app compiles details on scholarships/fellowships from government websites and private scholarship sources. Links to the official sources accompany each listing detail pages.
  2. Non-affiliation: The Buddy4Study app is not associated with any government entity in India or elsewhere. When featuring government scholarships, we rely on publicly accessible information from central and state government websites in India.

Scholarships For

Upto Class 8 Class 1 to10 (Pre-Matric) Class 9 to 10 (Pre-Matric) Post-Matric(Class 11-12) Class 11 & 12 Class 12 passed Polytechnic/Diploma/ITI ITI Diploma/Polytechnic Graduation Post-Graduation Medical Engineering Girls NSP Portal Income Based SC/ST/OBC Law

Scholarship by State

NSP Scholarships Andhra Pradesh Arunachal Pradesh Assam Bihar Chandigarh Chhattisgarh Delhi Goa Gujarat Haryana Himachal Pradesh Jammu & Kashmir Jharkhand Karnataka Kerala Madhya Pradesh Maharashtra Manipur Meghalaya Mizoram Nagaland Odisha Punjab Rajasthan Sikkim Tamil Nadu Telangana Tripura Uttar Pradesh Uttarakhand West Bengal

Scholarships A to Z

Abdul Kalam Scholarship Aicte Internship AICTE NSP Scholarships Aicte Scholarship Aicte Swanath Scholarship Aikyashree Arunachal Pradesh scholarship Assam Scholarship Atul Maheshwari Scholarship Begum Hazrat Mahal National Scholarship Bihar Scholarship BYPL Sashakt Scholarship CBSE Scholarship Central Sector Scholarship CG Scholarship CG Scholarship Portal Chandigarh Scholarship Colgate Scholarship DCE Scholarship Delhi Scholarship Dhirubhai Ambani Scholarship Status of the Digital Gujarat Scholarship Disability Certificate Domicile Certificate Dr. Ambedkar Scholarship Dr. Ambedkar Scholarship, Haryana DRDO Scholarship Scheme For Girls DTE Scholarship in Maharashtra E Grantz E Grantz Login E Grantz Scholarship Status Kalyan Bihar Portal E Kalyan Status Epass Karnataka Ericsson Empowering Girls Scholarship Programme E. Samaj Kalyan Fellowships in India Gokdom Government Scholarships GSK Scholars Programme Gujarat Scholarship Haryana Scholarship Haryana Scholarship Portal HDFC Badhte Kadam Scholarship How to get a Caste Certificate HP Scholarship IET-India Scholarship Awards Immigration-Friendly Countries Income Certificate Indira Gandhi Single Girl Child Scholarship Inspire Scholarship Ishan Uday ITI Scholarships Jammu and Kashmir Scholarship Jharkhand Scholarship Jnanabhumi Application Status Kanyashree Karepass Karnataka Scholarships Kotak Kanya Scholarship Ladli Yojna Legrand Scholarship Mahadbt Mahadbt Login Mahadbt Scholarship Status Maharashtra Pre-Matric Scholarship Maharashtra Scholarship Manipur Scholarship MBA Scholarships in India MCM Scholarship Means Scholarship Meghalaya Scholarships Merck India Charitable Trust Scholarship Programme Merit Cum Means Scholarship For Minorities MHRD Scholarship MI Scholarship MOMA Scholarships MP Scholarship MP Scholarship Kyc MP Scholarship Portal MP Scholarship Status MYSY Scholarship Nabanna Scholarship Nagaland Scholarship National Scholarship Portal National Scholarship Portal (NSP) NMMS NSP Login NSP Renewal NSP UGC Scholarships Oasis Scholarship Oasis Scholarship Status OBC Scholarships Odisha Scholarship Olympiad ONGC Scholarship PFMS Login PFMS Scholarship Phd Scholarships PMRF PM Scholarship PMSSS Post Matric Scholarship Post-Matric Scholarship for Minorities Pragati Scholarship Pre-Matric Scholarship Pre-Matric Scholarship for Minorities Prerana Rajasthan Scholarship Rolls-Royce Unnati Scholarship Saksham Scholarship Programme for Drivers Children Saksham Scholarship Scheme Santoor Women's Scholarship SBI Asha Scholarship Programme SBI Education Loan SBI General Suraksha Support Scholarship Programme Schaeffler-India Hope Engineering Scholarship Scholarship Application Dos and Don'ts Scholarship Form Scholarships for Diploma Courses Scholarships for Indian Girls and Women Scholarships for North Eastern Students Scholarships for PG Students Scholarships for Undergraduates Scholarships in India Scholarship Status SC Scholarship SC ST Obc Scholarship Sensodyne Ida Shining Star Scholarship Programme Sitaram Jindal Scholarship SSP Scholarship ST Scholarship SVMCM Scholarship Eligibility Swami Vivekananda Scholarship Swami Vivekananda Scholarship Technip Energies India Scholarship Programme Telangana Scholarship The Tata Capital Pankh Scholarship Programme Top Scholarships for Medical Students Top Scholarships For Students Of Andhra Pradesh Tripura Scholarship Ugc Scholarship UP Post-Matric Scholarships UP Pre-Matric Scholarships UP Scholarship UP Scholarship Correction UP Scholarship Login UP Scholarship Registration UP Scholarship Renewal UP Scholarship Status Uttarakhand Scholarship Vidyalakshmi Portal Virchow Scholarship Programme VHTC WBMDFC West Bengal Scholarship