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Divyangajan Swavalamban Yojana is a scheme by Government of India to provide financial assistance to the differently abled/Disabled individuals. The financial assistance is provided in the form of concessional loans. This scheme basically aims at providing equal opportunities to everyone and overall economic development thereby.
Scheme Overview:
| Scheme name: | Divyangjan Swavalamban Yojana |
| Launched by: | Government of India |
| Benefit: | Concessional loans |
| Beneficiaries: | Any Indian citizen with 40% or more disability |
| Website: | Nhfdc.nic.in |
Scheme Objectives:
- The main objective of the scheme is to provide financial help in the form of concessional loans to the persons with disabilities
- Provision of equal opportunities
- It also aims at overall empowerment and economic development
Eligibility:
- Any Indian Citizen with 40% or more disability. Disability as defined in PwD Act, 2016.
- Age of the person should be above 18 years. In case of mental retardation, the person should be above 14 years.
- No age criteria will apply to educational loans.
Prescribed use of the loan amount:
- To start any activity contributing to income generation
- To pursue Higher education after 12th. Courses may include UG, PG, Professional courses, etc
- To pursue vocational or skill development course. Any course increasing the chances of employment like ITI, Diploma etc
- Purchasing or Converting available devices to Disabled friendly mode.
Loan Amount and Interest:
- The actual loan amount to be sanctioned by the authorities amounts to maximum Rs. 50 lakhs.
- The amount of loan will depend on the activity to be conducted by the beneficiary.
- For loans less than Rs. 50,000, the rate of interest is 5%
- For loans from Rs. 50,000 to 5 Lakhs, the rate of interest is 6%
- For loans from Rs. 5-15 lakhs, the rate of interest is 7%
- For loans from Rs. 15-30 Lakhs, the rate of interest is 8%
- For loans from Rs. 30-50 Lakhs, the rate of interest is 9%
Security: Ample security should be aligned as per the norms by the Implementing authorities. Insurance coverage should be ensured under various government insurance schemes.
How to apply:
- Application is to be submitted in a prescribed format to the implementing agency for sanctioning the loan.
- General terms and conditions as laid down by National Handicapped Finance and Development Corporation (NHFDC), should be followed carefully.
Rights of NHFDC and Other terms:
- In case of dispute the decision of NHFDC will be considered as final and binding on all the parties involved
- Interest rates would include margin of Implementing agency
- Rebate of 1% up to Rs. 50,000 will be allowed to women with disabilities.
- Terms and Conditions will be as per guidelines of NHFDC only.
