Loan to Disabled Persons

   The National Handicapped Finance and Development Corporation (NHFDC) provided loans on concessional rates to the persons with disabilities.
 
   The scheme-wise maximum repayment period is as follows: (i) Self Employment Scheme – 10 years (ii) Micro Credit Scheme – 3 years & (iii) Education Loan Scheme – 7 years.  The repayment under education loan scheme commences one year after completion of course or six months after securing a job, whichever is earlier.

   NHFDC has delegated sanctioning authority for loan proposals costing upto Rs.5.00 lakh to its State Channelizing Agencies (SCAs).  Only the loan proposals with project cost above Rs.5.00 lakh are forwarded by SCAs to NHFDC.  In case of Regional Rural Banks, those entered in collaborative tie up with NHFDC for implementation of its schemes and Apex Co-operative Banks, State Financial Institutions acting as SCAs, the sanctioning authority is upto Rs.25 lakh.

     For greater emphasis in the XII Plan, the Working Group on empowerment of persons with disabilities constituted by the Planning Commission has, inter-alia, made recommendations for grant of back end subsidy for loans given by NHFDC, grant for skill development, grant for interest free education loan & reimbursement of one time guarantee fee and annual service charges in implementing credit guarantee scheme while extending loans to persons with disabilities under NHFDC scheme.

PIB