Self-Employment Loan Scheme for Disabled Young Professional

The Self-Employment Loan Scheme for Disabled Young Professional is launched by the government of India, Ministry of Social Justice and Empowerment and implemented by National Handicapped Finance and Development Corporation (NHFDC). This scheme is specially launched for professionally educated unemployed disabled youth. In order to inculcate the spirit of self-confidence among such disabled youths through self-employment and utilize their wisdom & experience gained through professional training & education, the Corporation provides a loan at the rate of 4 to 8% per annum to professionally educated/trained disabled youths. Young professional who are permanent residents of India and qualify eligibility norms mentioned in below article

Benefits of Self-Employment Loan Scheme for Disabled Young Professional:

• Self-Employment Loan Scheme for Disabled Young Professional provides benefits in the form of loan
• Under this scheme applicant would get maximum loan of amount Rs. 25 lakh
• The scheme provides 90% of loan required for starting self-employment
• This scheme provides loan under various interest rate mentioned below
• Up to Rs. 50,000: 5% p.a.
• Above Rs. 50,000 upto Rs. 5.0 lakh: 6% p.a.
• Above Rs. 5.0 lakh upto Rs. 15.0 lakh: 7% p.a.
• Above Rs. 15.0 lakh: 8% p.a.
• A rebate of 1% p.a. on interest for disabled young women professional
• A special rebate of 0.5% is also available for PWD under VH/HH/MR category
• The loan is to be repaid within 10 years

Required eligibility and conditions for applying Self-Employment Loan Scheme for Disabled Young Professional:

1. Any Indian citizen with 40% or more disability is eligible to apply under this scheme
2. Age between 18 and 45 years
3. Applicant should have obtained a professional degree from recognized Institute
4. The activity proposed should be directly relevant to the professional degree of the applicant

Document required for applying Self-Employment Loan Scheme for Disabled Young Professional:

1. Aadhar card
2. Bank details e.g. IFSC code, MICR code, account number, branch name
3. Disability certificate
4. Nationality proof e.g. domicile certificate
5. Academic certificates
6. Academics marksheets
7. Photocopy of bank passbook
8. Passport size photograph
9. Details of palm for which applicant intends to get loan

Application procedure:

1. Candidate who qualifies eligibility norms can apply online by visiting official website http://www.nhfdc.nic.in/apply-online
2. The applicant needs to visit State Channelizing Agency (SCA). Address of SCA as per state please visit: https://govinfo.me/wp-content/uploads/2016/10/SCA_Address.pdf
3. Application in the prescribed format to be submitted to the State Channelizing Agency for sanction of loan as per the lending policy of National Handicapped Finance and Development Corporation

Contact Details:

1. Corporate Office: PHD Chamber of Commerce and Industry, PHD House, 3rd Floor, 4/2 Siri Institutional Area, August Kranti Marg, New Delhi-110 016
2. Registered Office: Red Cross Bhawan, Sector – 12, Faridabad-121007, Haryana E-mail:nhfdc97@gmail.com
3. NHFDC REGIONAL OFFICE CUM SKILL TRAINING CENTRE(UJJAIN): A 15/7, MAHAKAL BANIJYA KENDRA, NANAKHEDA, UJJAIN, MADHYA PRADESH-456010 E-mail: nhfdc97.ujjain@gmail.com
4. A candidate may contact State Channelizing Agency (SCA). Address of SCA as per state please visit: https://govinfo.me/wp-content/uploads/2016/10/SCA_Address.pdf

References & details:

1. For more details regarding documents and other help please visit official website: http://www.nhfdc.nic.in/default.aspx
2. https://govinfo.me/wp-content/uploads/2016/10/Scheme_Young.pdf