LOAN FOR PROFESSIONAL/EDUCATIONAL/TRAINING COURSES
TO DISABLED PERSONS
A term loan granted to Indian Nationals for pursuing higher
education in India or abroad where admission has been secured.
Any Indian Citizen with 40% or more disability.
Type of Loan - Term
All courses having employment prospects are eligible.
- Graduation courses/ Post graduation
courses/ Professional courses
- Other courses approved by
Expenses considered for loan
- Fees payable to college/school/hostel
- Examination/Library/Laboratory fees
- Purchase of
- Caution Deposit/Building Fund/Refundable
Deposit (maximum 10% tution fees for the entire course)
- Travel Expenses/Passage money for studies
- Purchase of computers considered necessary
for completion of course
- Cost of a Two-wheeler upto Rs. 50,000/-
Any other expenses required to complete the course like study
tours, project work, Assistive devices etc.
Amount of Loan
Need based finance subject to the repaying capacity of the
parents/students with the following ceilings –
i) Studies in India
- Maximum Rs. 10.00 lacs
ii) Studies Abroad
- Maximum Rs. 20.00 lacs
Promoter’s Contribution -
Upto Rs. 4.0 lakh
ii) Above Rs. 4.0 lakh
for courses in India
iii) Above Rs. 4.0 lakh for
Rate of Interest - 4% p.a.
A rebate of 0.5% on interest to women beneficiaries.
Repayment of Loan -
The loan to be repaid within 7 years after commencement of repayment.
ii) The repayment as per repayment schedule would
commence one year after completion of course or 6 months after securing a job,
whichever is earlier.
iii) Interest on term loan would be charged from the
date of disbursement of loan from NHFDC (grace period as per lending policy is
iv) In the case of loan extended/to be extended by the
Corporation under the scheme, simple interest shall be charged on the loan
amount at the prescribed/applicable rate during the moratorium period and that
the unpaid interests, if any, shall be compounded and charged at the
commencement of repayment of loan at par with term loan.
The manner of charging interest as specified above shall also be made
applicable to loans already sanctioned/released under the scheme notwithstanding
anything to the contrary contained in the sanction letter or the scheme as the
case may be.
v) The beneficiary will submit the copy of marks-sheet
after every term/semester to the SCA for further submission to NHFDC.
Procedure for Obtaining Loan -
Application in the prescribed format to be
submitted to the State Channelising Agency for sanction of loan as per the
lending policy of National Handicapped Finance and Development Corporation.
Suggested Processing Fees
- No processing fee/ upfront charges
- Deposit of Rs. 5000/- for education loan
for studies abroad which will be adjusted in the margin money
Minimum Security Suggested for SCA
For loans upto Rs. 10.00 lacs for Studies in India and
upto Rs. 20.00 lacs for studies abroad
Upto Rs. 4 lacs
Above Rs. 4 lacs to Rs. 7.50 lacs
Collateral security in the form of suitable third party
guarantee. The SCA may, at its discretion, in exceptional cases,
waive third party guarantee if satisfied with the net-worth/means of parent/s
who would be executing the documents as "joint borrower".
Above Rs. 7.50 lacs.
Tangible collateral security of suitable value, along with
the assignment of future income of the student for payment of installments.
All loans should be secured by parent(s)/guardian of the
student borrower. In case of married person, co-obligator can be spouse or the