Eligibility for the Loan:
Any Indian Citizen with 40% or more disability.
Type of Loan:
Term Loan
Eligible Courses:
All courses having employment prospects are eligible.
Loan Amount:
Need based finance subject to the repaying capacity of the parents/ students with the
following ceilings –
1) Studies in India Maximum Rs. 10.00 lace
ii) Studies Abroad Maximum Rs. 20.00 lace
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.
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 permissible).
Procedure for Obtaining Loan:
Application in the prescribed format to be submitted to the State Channelising
Agency for sanction of load as per the lending policy of National Handicapped
Finance and Development Corporation. The interested students may also apply
directly to NHFDC for education loan assistance.
For more information:
Please visit www.ugc.ac.in for detailed information.