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Self Help Groups

Our Self Help Group-Bank Linkage Programme (SBLP) aims to deliver financial products & services to the section of Indian population that lacks access to formal banking. This segment, often from the lower income, meets its financial needs through informal sources such as money lenders, traders, family and friends etc. However, these sources have their own limitations.

Under SBLP, 10-20 individuals are organised in groups known as Self Help Groups (SHGs) by NGOs commonly known as Self Help Promoting Institutions (SHPI). The SHGs are also encouraged to take up livelihood activities, for which skill training is provided by certain NGOs. The members of the SHG are encouraged to save and internally lend the savings to members during times of need. SHPIs also provide knowledge on managing books of accounts.

SHGs get linked to banks via NGOs, for opening savings account and for their credit requirements. Banks lend to SHGs after assessing their credit worthiness on parameters such as group discipline, regularity of meetings, savings, rotation of funds, maintenance of books of accounts, group record keeping, repayment of loans etc.


Self Help Groups (SHGs) are a homogenous group of 10-20 individuals who come together for saving and internally helping each other in times of need. Group members are engaged in livelihood activities such as running a retail shop, cattle rearing, zari work, tailoring jobs, making candles, artificial jewellery etc. Each individual saves a fixed amount on a monthly basis.

  1. SHG should be in existence for at least 6 months
  2. Group of 10-20 women
  3. A minimum Savings/Corpus of Rs 5,000
  4. Acceptable level of financial and administrative discipline in running of the SHG

The maximum loan limit for SHG is of Rs 20,00,000


Interest Rate Range:


Product Maximum Minimum Mean
SHG 22.85% 7.00% 14.00%



  • The range of interest rates provided above is with respect to individual loans disbursed during Quarter-III: FY24.
  • Mean rate = Sum of the rates of all loan accounts / number of all loan accounts.


Self Help Group:


Description of charges Nature of Charge Charges
Non Refundable Loan Processing Fees and documentation charges Service Charge PF to be charged if: (Total Loan Amount Sanctioned/ Number of SHG members) > 25000 Rate- Upto 2% of Sanctioned Amount
Stamp Duty Service Charge Actuals
Prepayment Charges Penal Charge Nil
Bounce + Re - run Charges Penal Charge 128.62 (Inclusive of GST)
Penal Interest Rate Penal Charge Applicable Rate + 6%
Legal suit charges Penal Charge Actuals
Professional charges Penal Charge Actuals


Annual Percentage Rate:


The Annual Percentage Rate (APR) is a method to compute annualised credit cost, which includes interest rate and processing fee.

To calculate the same, please click here to download the APR calculator. The APR calculator does not include the charges like stamp duty.

The maximum period for the loan repayment is 48 months.

SHGs use this loan for the following needs:

  1. Income generation activities/ business expansion
  2. Livelihood activities

The following documents are required to be obtained/verified from the SHG before extending credit:
KYC Documents:

  1. Constitution documents
    • Inter-se agreement (either registered or unregistered) executed by all members of the SHG, communicating their decision to open a Savings Account with the Bank and identifying two or three members to jointly operate the account
    • Registration Certificate (For a registered entity).
  2. Identity Proof of the SHG
    • Recommendation Letter/ Sanction Letter/ Loan Recommendation Letter from Block Development Officer (BDO) or a Gazetted Officer working in the same department; or
    • SHG Registration Certificate (if registered); or
    • Copy of passbook of existing account with a public sector bank or scheduled commercial bank. Such account must have been opened at least 90 days prior to the date of opening an account in ICICI Bank
    • Original Letter of Introduction from a bank official of a public sector bank; or
    • Copy of passbook/ Statement of an existing account with a regional rural bank/ Co-operative bank/ Systematically important NBFCs/ Credit co-operative society along with a letter of introduction from a Self Help Group Promoting Institution (SHPI)/ village sarpanch/ Village Administrative Office (VAO)
    • In case of SHGs sourced under the Direct Sourcing Mode, who do not have an existing bank account, a letter of introduction from the village sarpanch/ Village Administrative Office (VAO) in rural locations, would be accepted and a Letter of Introduction from the BDO or Gazetted Officer from the same department may be accepted in urban and semi-urban areas
    • In case of a special arrangement involving a government department/undertaking like MAVIM, DPIP, etc., a certification from a Gazetted Officer will be accepted in line with KYC guidelines of the Government banking segment
    • Certificate of registration from the respective government entity, with whom an MoU is in place.
  3. Address Proof of the SHG
    • Same as constitution documents; or
    • Same as identity documents, if it contains the address
    • Photographs of authorised signatories.
  4. Identity and Address Proofs of Authorised Signatories – Any one of the following to be obtained
    • Passport
    • Aadhaar Card
    • Driving Licence
    • Job Card issues by NREGA
    • Voter ID
    • National Population Registration Letter
  5. Documents required other than KYC
    • Duly-filled Facility Application Form
    • Loan Authorisation Letter
    • Direct Debit Form/ECS Mandate/PDC Declaration
    • Inter-se Agreement executed by all members of SHGs
    • SHPI Recommendation Letter
    • Repayment track record, if the SHG has a credit linkage with any other bank or financial institution.