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Self-Help Groups are small groups of people, mainly women, who live in rural areas and come together to save money and provide loans to each other. They decide on savings and loan activities together, including the purpose, amount, interest rate, and repayment schedule.

Functions of Self Help Groups They are an important source of microfinance services to the poor. They act as a go-through for formal banking services to reach the poor, especially in rural areas. They also encourage the habit of saving among the poor.

Self-help groups are informal groups of people who come together to address their common problems. While self-help might imply a focus on the individual, one important characteristic of self-help groups is the idea of mutual support – people helping each other.

A self-help group brings people together who are dealing with similar challenges to help build support and community around shared life experiences. In a self-help group, you have the option to share your coping strategies, and in turn, others do the same with you.

Self-help support groups are a voluntary, self-determining, and non-profit gathering of people who share a condition or status; members share mutual support and experiential knowledge to improve persons' experiences of the common situation (Society for Community Research and Action, 2013).