Free loan – self employment and higher education to Persons with Disabilities

| | posted on:Resources

Scheme for Refinance To Public Sector Banks/Regional Rural Banks / Other Eligible Institutions Under Credit Guarantee Scheme of Government of India (Credit Guarantee Fund Trust For Micro And Small Enterprises (CGTMSE)

 

Purpose:

NHFDC-Scholarships & LoansTo make available the facility of collateral free loan for self employment and higher education to Persons with Disabilities (PwDs) at NHFDC rate of interest through Public Sector Banks (PSBs), Regional Rural Banks (RRBs) & Other Eligible Institutions under Credit Guarantee Scheme (CGS) of Government of
India.

 

Eligibility of PSB/RRB/Other institution

  1. The PSBs/RRBs/Other institutions should be the Member Lending Institution (MLI) of Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE).
  2. The PSB/RRB/Other institution should have executed an Agreement with NHFDC.

Note:
In case the PSB/RRB/ Other institution is yet to become MLI of CGTMSE but otherwise allowed to become MLI as per the policy of CGTMSE, NHFDC after satisfaction may extend the facility of refinance after getting a written assurance from the PSB/RRB/ Other institution that it will become MLI soon.

Eligibility of Beneficiary

Any disabled person who fulfills the following criteria is eligible to avail financial assistance

For Self Employment purpose
a) Any Indian Citizen with 40% or more disability.
b) Age above 18 years.

For Higher Education purpose
a) Any Indian Citizen with 40% or more disability.

 

Eligibility of Business Activity

  1. The business activity for which loan is sought should be eligible under CGS
  2. In case of education loan, as per policy of NHFDC Education Loan Scheme.

Loan Limit

  1. For Self Employment activities: Rs 25.00 Lakhs
  2. For Education Loan the norms/policy of NHFDC at the time of applying of loan shall be applicable.

Rate of Interest Chargeable

Rate of Interest (Self Employment purpose)

Loan AmountTo be paid by banks to NHFDCTo be paid by benef. to Banks etc
Upto Rs. 50,000/-2.00%5.00%
Above Rs. 50,000/- and upto Rs. 5.0 lakh3.00%6.00%
Above Rs. 5.0 lakh- and upto Rs. 15.0 lakh4.00%7.00%
Above Rs. 15.0 lakh5.00%8.00%

 

Rate of Interest for Women with Disabilities (Self Employment purpose)
A special rebate of 1% on interest is given to women with disabilities in all the self-employment schemes of NHFDC under Mahila Samridhi Yojana. All the women beneficiaries are covered under this schemes and the applicable rate of interest for them is as follows:

Loan AmountTo be paid by banks to NHFDCTo be paid by benef. to Banks etc
Upto Rs. 50,000/-1.00%4.00%
Above Rs. 50,000/- and upto Rs. 5.0 lakh2.00%5.00%
Above Rs. 5.0 lakh- and upto Rs. 15.0 lakh3.00%6.00%
Above Rs. 15.0 lakh4.00%7.00%
# A special rebate of 0.5% is also available for PwDs under VH/HH/MR category under self-employment loans.

 

Rate of Interest (Education Loan)

Loan AmountTo be paid by banks to NHFDCTo be paid by benef. to Banks etc
Upto Rs. 10,00,000/- for Study in India and Upto Rs. 20,00,000/- for Study abroad 1.00%4.00%

 

Rate of Interest for Women with Disabilities (Education Loan)

A special rebate of 0.5% on interest is given to women with disabilities in Education Loan Scheme of NHFDC

Loan AmountTo be paid by banks to NHFDCTo be paid by benef. to Banks etc
Upto Rs. 10,00,000/- for Study in India and Upto Rs. 20,00,000/- for Study abroad 0.50%3.50%

 

Repayment Period

  1. For Self Employment activities the repayment period shall be as per appraisal of the individual proposal by PSB/RRB/etc which should be permissible under CGS
  2. For Education Loan the norms/policy of NHFDC at the time of applying of loan shall be applicable

Security

  • For Self Employment activities no security will be taken by NHFDC from the PSB/RRBs/Other eligible institutions for providing refinance under CGS.
  • For Education Loan no security will be taken by NHFDC from the PSB/RRBs/Other eligible institutions for providing refinance under CGS. However, the PSBs/RRBs/Other eligible institutions need to follow the norms prescribed under the model scheme of the Indian Bankers Association (IBA) or their own bank norms while extending loan to the beneficiaries.

Refinancing Patterns

NHFDC would provide 100% refinance to the PSBs/RRBs/Other eligible institutions of their share.

Liquidated Damages on Defaulted Payments

Defaults in the repayment of NHFDC dues (principal as well as interest) shall attract liquidated damages @ 2% p.a. over and above the normal rates of interest

Download : Loan for self employment and higher education to Persons with Disabilities (PwDs) at NHFDC (PDF,208Kb)

 

Download State Agency for NHFDC

 

Contact Details

National Handicapped Finance and Development Corporation
(Department of Empowerment of Persons with Disabilities, Ministry of Social Justice & Empowerment)

Corporate Office:
PHD Chamber of Commerce and Industry, PHD House, 4/2 Siri Institutional Area, August Kranti Marg, New Delhi-110 016.

Phone :
(011)45088636 PS to CMD
(011)45088638
(011)40541355 (Scholarship)
(011)45803730

TeleFax:
(011) – 45088636

Registered Office:
Red Cross Bhawan, Sector-12, Faridabad – 121007
Phone : (0129) 2287512, 2287513, 2226910
TeleFax: (0129) – 2222339,2284371
E-mail : nhfdc97@gmail.com

 

Share Your Thoughts...