National Handicapped Finance Development Corporation

National Handicapped Finance and Development Corporation (NHFDC) is an Apex corporation under the aegis of Department of Empowerment of Persons with Disabilities (Divyangjan), Ministry of Social Justice & Empowerment and is working since 1997.

It is registered as a company not for profit and provides financial assistance to the Divyangjan/Persons with Disabilities (Divyangjan/PwDs) for their economic rehabilitation and provides number of skill development programmes to empower them to grow & sustain their enterprises.

Schemes

1. Divyangjan Swavalamban Yojna

The main objective of the Scheme is to assist the needy disabled persons by providing concessional loan for economic and overall empowerment.

Eligibility criteria :

• Any Indian citizen with 40% or more disability (Disability as defined in PwD Act, 2016 or its amendments).
• Age above 18 years. However, in case of persons with mental retardation, the eligible age would be above 14 years. The age criteria would not be required for educational loans. Age certificate issued by competent authority authorized by the State Government or as mentioned in the 10th certificate or any other certificate issued by the government would be the required document.

Amount of Loan

The upper limit to extend concessional credit through various NHFDC schemes would be Rs.50.0 lakhs per beneficiary/unit. The actual loan amount within the upper limit of Rs.50.0 lakhs shall be determined by implementing agencies based on the needs of the activity/project being funded as well as repaying capacity of the borrower within the maximum repayment period. The rate of interest varies from 5 to 9 % based on the quantum of loan amount.

2. Vishesh Microfinance Yojana

To provide prompt and need based finance for the target group and activities at reasonable rate of interest throughNBFC- MFI, Section-8-MFI, and NGO-MFI, SHG Federations, state Government Missions and other state level organizations to pursue small/micro business and developmental activities.

Eligibility Criteria

Eligibility norms as followed by SIDBI or NABARD from time to time, for such categories of microfinance lending organizations, would be followed. The eligibility norms shall be deliberated and recommended by the Loan Screening Committee of the NHFDC based on the prevailing eligibility norms of the SIDBI or NABARD.

Financial assistance

• Unit Cost : The unit cost of the Project shall not exceed Rs.60,000/-.
• Quantum of Assistance : NHFDC's share shall be up to 90% of the project cost. The balance 10% shall be contributed by the Implementing Agencies or other organizations acting as implementing partner of NHFDC, and/or beneficiaries.
• The rate of interest would be 12 % p.a.
• Repayment Period : The loan amount shall be repaid in quarterly installments within a maximum period of three years from the date of each disbursement including the moratorium period of three months. In addition, 120-days period is allowed for funds utilization. There shall not be any moratorium period for payment of interest.

3. Educational loan

• Any Indian Citizen with 40% or more disability is eligible to apply for education loan under NHFDC schemes through the Implementing Agencies.
• Loan up to Rs.10 lakh for study in India and Rs.20.0 lakh for study at abroad is provided.
• The rate of Interest for Education loan is 4 % for a loan of upto Rs. 20.00 lakh. A rebate of 0.5% on interest is allowed to female students with disabilities in education loan scheme.
• The repayment period for educational loan is maximum of 7 years.

How to obtain a loan

1. Application through State Channelising Agencies

The National Handicapped Finance and Development Corporation extends loan to the persons with disability through the State Channelising Agencies nominated by the respective state governments/U.T.s

Applications on prescribed format are submitted through the State Channelising Agencies. Projects upto Rs. 10.0 lakh are sanctioned by State Channelising Agency and projects more than Rs. 10.0 lakh are sanctioned by NHFDC.

Click Here to get the contact details of the State Channelising Agencies of your State

2. Nationalised Banks / Regional Rural Banks-

The National Handicapped Finance and Development Corporation extends loan to the persons with disability through Punjab National Bank, Andhra Bank, IDBI Bank and also through Regional Rural Banks in the State of Haryana, Gujarat, Uttar Pradesh and Uttaranchal.

3. NGOs

For very poor borrowers, the corporation has Micro Financing Scheme. Under the scheme, the NGOs will submit their application to the respective State Channelising Agencies in the prescribed application form along with all relevant details & documents.

To download the application form Click Here

To download the circular of Banks Click Here

Call the Tollfree NO.1800 11 4515 (9:30am to 5.30pm) for more details.

Source : National Handicapped Finance and Development Corporation