Looking for financial support and empowerment opportunities as a person with disabilities in India? Explore NHFDC – a government initiative designed to help people just like you. Whether you’re aspiring to start a new business, pursue higher education, or cultivate personal skills, NHFDC has a scheme for you! This article will help you gain insights on more about the opportunities and supports available through NHFDC’s special schemes, interest rates, eligibility criteria to apply for NHFDC loans and more.
To uplift and empower persons with disabilities (PwDs) in India, a notable government initiative known as the NHFDC was started. And is entirely governed by the Government of India. NHFDC extends financial support for income-generating activities and overall empowerment of PwDs, all through a network of all through a network of state and public sector agencies. Let’s get to know more about NHFDC and the avenues it opens up for PwDs.
The NHFDC stands for ‘National Handicapped Finance and Development Corporation’. Established to promote economic development and provide comprehensive financial assistance to persons with disabilities. These include people with visual, hearing, speech, locomotive disability, mental retardation, mental illness or multiple disabilities, etc. It functions as a non-profit organisation under the Ministry of Social Justice and Empowerment, Government of India.
The NHFDC operates as the main body for offering financial help for various activities that aid PwDs in earning an income and feeling empowered. It works closely with different State Channelling Agencies (SCAs), Public Sector Banks (PSBs) and Regional Rural Banks (RRBs) to reach as many people as possible.
NHFDC has introduced several schemes to help PwDs. Let’s discuss some of the prominent ones:
This scheme is designed to foster self-sufficiency among PwDs. The Divyangjan Swavalamban Yojana allows for loans for various endeavours that can generate income. The maximum loan amount goes up to ₹ 50 lakhs and carries an interest rate between 5-9% p.a. Furthermore, a 1% interest rate rebate is available for women with disabilities for loans up to ₹ 50,000.
Eligibility Criteria
The Vishesh Microfinance Yojana (VMY) is dedicated to providing fast and need-based financial aid. The project cost under this scheme should be at most ₹ 60,000 and offer a repayment tenure of up to 3 years.
The NHFDC Swavalamban Kendra (NSK) operates as a mini-incubation centre. These are established with a capital cost of approximately ₹ 12 lakhs and aim to offer practical skills training on locally relevant businesses.
Divyangjan Swavalamban Yojana loan amount and interest rates:
| Loan amount range | Interest rate |
| Less than ₹ 50,000 | 5% |
| ₹ 50,000 to ₹ 5 lakhs | 6% |
| ₹ 5 lakhs to ₹ 15 lakhs | 7% |
| ₹ 15 lakhs to ₹ 30 lakhs | 8% |
| ₹ 30 lakhs to ₹ 50 lakhs | 9% |
Let’s compare the recent loan interest rates of NHFDC with other banks:
| Lender | Interest rate range |
| Axis Bank | 14.95% to 19.20% p.a. |
| Bajaj Finserv | 9.75% to 30% p.a. |
| HDFC Bank | 10% to 22.50% p.a. |
| NHFDC | 5% to 9% p.a. |
To apply for a loan from the National Handicapped Finance and Development Corporation, you’ll have to follow the steps mentioned below. These include:
By following these steps accurately and with diligence, you can successfully apply for a loan through NHFDC.
Here are the contact numbers and addresses of the NHFDC corporate and registered office. However, you can also contact SCAs, RRB, and PSB of your state for more information regarding the loan application process at- https://www.nhfdc.nic.in/how-to-obtain-loan/state-channelising-agency.
Unit No. 11 & 12, Ground Floor, DLF Prime Tower,
Okhla Phase – I, Near Tehkhand Village, New Delhi
Pincode: 110020
Contact number: (011)45803730
Red Cross Bhawan, Sector – 12, Faridabad, Haryana
Pincode: 121007
Contact numbers: (0129) 2287512, 2287513, 2226910
TeleFax: (0129) – 2222339,2284371
