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    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.

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    NHFDC: The full form and its purpose

    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.

    Prominent schemes under NHFDC

    NHFDC has introduced several schemes to help PwDs. Let’s discuss some of the prominent ones:

    Divyangjan Swavalamban Yojana

    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

    • Must be an Indian citizen with a disability percentage of 40% or more.
    • Must be above the age of 18 years. However, the age is relaxed to 14 years for persons with mental retardation.
    • In case it is for education, there is no age limit.

    Vishesh Microfinance Yojana (VMY)

    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.

    NHFDC Swavalamban Kendra (NSK)

    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.

    Loan details under NHFDC

    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%

    Repayment tenure:

    • Minimum repayment period: 3 years
    • Maximum repayment period: Up to 10 years

    Comparison of interest rates with other banks for 2023

    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.

    How to apply for a loan from NHFDC?

    To apply for a loan from the National Handicapped Finance and Development Corporation, you’ll have to follow the steps mentioned below. These include:

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    Applying through SCAs (State Channelising Agencies)

    • Identify the State Channelising Agency (SCA) nominated by your state government/Union Territory (UT). The list of SCAs can be found on the respective website or you can contact the corporate office for details. (mentioned below)
    • You have to download the prescribed application format from the official website.
    • Now fill out the application form, and make sure you provide all the necessary details regarding your project and personal information.
    • Compile all the requisite documents as mentioned in the application form.
    • Submit your application form along with the documents through the identified SCA in your region.
    • The sanctioning of the loan will be done by the SCA for projects up to ₹50 lakhs, and by the National Divyangjan Finance and Development Corporation (NDFDC)/ NHFDC for projects exceeding ₹50 lakhs.

    Applying through Nationalised banks or Regional Rural Banks (RRBs)

    • Identify a participating bank or regional rural bank where you can apply. These include Punjab National Bank (PNB, Andhra Bank, IDBI Bank, etc., in the states of Haryana, Gujarat, Uttar Pradesh, and Uttaranchal.
    • You can download the application form and the circular of the banks from the official website to understand the terms and conditions.
    • Now fill out the application form with the necessary details regarding your disability, the purpose of the loan, etc.
    • Ensure all necessary documents as specified in the application form are handy.
    • Now submit the application form and the documents at a branch of the selected bank or RRB.

    Applying through MFIs (Microfinance Institutions)

    • Under the Vishesh Microfinance Yojana, identify an appropriate MFI that collaborates with NHFDC- this could be an NBFC-MFI, Section-8-MFI, NGO-MFI, etc.
    • Now download the prescribed application form from the official website.
    • Complete the application form with all the relevant details, ensuring that you meet the criteria established for very poor borrowers.
    • Gather all the necessary documents as mentioned in the application form.
    • Submit the application form and documents to the identified MFI.
    • Finally, the MFI will apply on your behalf to obtain the loan.

    Smart checklist when applying loan from NHFDC

    • Ensure that all the information provided is accurate to avoid delays in processing.
    • Always keep copies of all documents and the filled application form for your records.
    • For further clarification, you can reach out to the corporate or registered office using the contact details provided (mentioned below).
    • Be prepared to provide additional information or documents if asked by the respective authority.
    • Frequently check the official website or get in touch with the offices for updates on your loan application status.

    By following these steps accurately and with diligence, you can successfully apply for a loan through NHFDC.

    NHFDC contact details and address

    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-

    Corporate office address:

    Unit No. 11 & 12, Ground Floor, DLF Prime Tower,

    Okhla Phase – I, Near Tehkhand Village, New Delhi

    Pincode: 110020

    Contact number: (011)45803730

    Registered office:

    Red Cross Bhawan, Sector – 12, Faridabad, Haryana

    Pincode: 121007

    Contact numbers: (0129) 2287512, 2287513, 2226910

    TeleFax: (0129) – 2222339,2284371


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