Recently deposit-linked loan scheme has been started by Himachal Pradesh

Category : National Published on: October 25 2023

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Deposit Linked Loan Scheme has been launched by the Government of Himachal Pradesh in October, 2023.
This scheme was launched by Himachal Pradesh Chief Minister Sukhwinder Singh Sukhu.
The objective of this scheme is to ensure financial inclusion of students in the age group of 10-18 years.
To provide financial assistance to them for higher education or start-up, entrepreneurship or livelihood activities on attaining the age of 18 years.
Early Savings Deposit Scheme is for all students of this age group.
Every year, the savings account balance will be transferred to the fixed deposit account and students will get interest on the fixed deposit.
Loan facility of five times the fixed deposit amount will be available to students after the age of 18 years till the age of 25 years.
The account of the beneficiaries will be opened in Himachal Pradesh State Cooperative Bank.