Make disability an ability

By | December 27, 2008
32 Comments

If you are determined to stand on your own feet, then no disabilities matter.

“I am 38 years old and physically handicapped (polio affected). As per the Government’s various plans for handicapped persons, I am liable to get a loan to start a business. However, I haven’t found any Government department so far that could help me with a loan. Could you suggest a way out?” — Rakesh

You can approach any bank for a loan. As for Government related aids, you can explore the following options:

Option 1: National Handicapped Finance and Development Corporation (NHFDC)

You can take a loan from NHFDC for:

— starting a venture

— pursuing any general, professional or technical education or training.

Age criteria for NHFDC loans: Between 18 and 55 years.

Loan amount given:

— Up to Rs 20 lakh to set up a small business in the service or trading sector, or an industrial unit.

— Up to Rs 5 lakh for agricultural or farming activities

— Up to Rs 25 lakh for manufacturing equipment for the physically challenged

Loan tenure: About seven years

You can get a rebate of 0.5 per cent on interest for timely repayments of the loan amount. NHFDC also offers loans through Punjab & Sind bank (P&SB) and Oriental Bank of Commerce (OBC).

Contact details of NHFDC:

National Handicapped Finance and Development Corporation (Ministry of Social Justice & Empowerment)
Red Cross Bhawan,
Sector-12, Faridabad – 121007
Number: (0129) 2287512, 2287513, 2280214, 2280335, 2264841
TeleFax: (0129) – 2284371
E-mail: nhfdc@nda.vsnl.net.in
Website: http://www.nhfdc.org

Option 2: Bank of India

This is a suitable option if you want to purchase durable and sophisticated aids that can help you function more independently.

Loan product: The Star Mitra Personal loan.

Amount of loan: Up to a maximum of Rs 1 lakh.

Eligibility: Ten times your net salary if you are a salaried individual and 50 per cent of your net annual income (as per the latest IT returns) if you are a self-employed individual or professional.

Loan tenure: Between 12 to 60 months

Interest rate: 10 per cent fixed interest rate.

Contact details:
Bank of India
STAR HOUSE
C – 5, “G” Block,
Bandra Kurla Complex,
Bandra (East),
Mumbai 400 051.
Phone: 022-66684444
Email: HeadOffice.GOD@bankofindia.co.in
Website: http://www.bankofindia.com

All the very best to you for procuring your loan and starting your own venture.

 

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Category: Personal Loans

About Abitha Deepak

Abitha was formerly part of the Content team at BankBazaar.com. She has a Master’s degree in Mass Communication and has 14 years of experience in Journalism and Creative Writing. Armed with strong writing and conceptualisation skills, Abitha has written on Loans, Credit Cards and Money Management.

32 thoughts on “Make disability an ability”

  1. lalit Kumar

    Hi I am lalit Kumar age 37 12th pass I m physically handicapped from left leg working with artificial leg…
    I want your help I want to start a small business or shop for that I need loan plz help me and guide me the way.
    plz give relevant Information on given email lalitkumar040@Gmail.com

    Reply ↓
    1. Team BankBazaar

      Hi Lalit Kumar,

      Thanks for writing to us. Please check your Business Loan eligibility here.

      Reply ↓
  2. Amar jeet singh.

    EDUCATION LOAN FOR MY SON.
    I AM A HANDICAPPED PERSON AND FOR MY SON’S EDUCATION(B.E.ENGINEERING). I WANT A LOAN.HOW TO PROCEEDS WITH BANKS OR TO CONTACT NDFDC DIRECTLY.PL.HELP ME.
    AMAR JEET SINGH.

    Reply ↓
  3. Rajeev Saxena

    I am a disabled and require loan to start up a new venture,Please guide me with the process,my age is 33 years.

    Reply ↓
  5. Preeti Raju

    Hi,

    I am physically handicapped, with polio and 51 percent disability. I am looking for a loan of Rs. 1 Cr for my project in Gurgaon. Can anyone help me please.
    My mail ID ……Preeti.l. raju@gmail.com.
    Thank you.

    Regards.
    Preeti.

    Reply ↓
  6. priti

    Hey, I am Priti and 38yrs old married female. I have 45% physical challenge as per medical certificated dated 2016…I want to start boutique or studio for my pottery work…. for that I need loan…Kindly let me know the procedure and required documents to fulfill my requirements …and what time period to return the loan and interest rate….everything i need to know…

    Reply ↓
    1. Team BankBazaar

      Dear Priti,

      You can click here to check your eligibility for a small business loan. Banks usually require documents for identity and income proof, among others. We suggest that you speak to the bank to get the full list of documents required as this might differ from bank to bank. Some banks do provide concessions to the physically challenged. You will need to talk to the bank to find out if they have something for you. The repayment tenure and interest rate for the loan are also something you will have to discuss with the bank.

      Cheers,
      Team BankBazaar

      Reply ↓
  7. Ashish Kumar Jha

    Hello, I am Ashish jha 27 year old lives in darbhanga, bihar, looking for loan for business like Private institution for preparation for general competition.
    I am disabled from my left hand and my disability percentage is 46%.
    what will be the great way to proceed for me.

    Reply ↓
  9. Sumangala M dolagond

    I Am Sumangala i am a disable .i want to start a bussiness but i am financially not fit.i want a loan plz help me or suggest me hw to get loan.contact 7996421197

    Reply ↓
  10. rafeeq

    I am rafeeq iam disable with 55% (OH) i want to start my own business how i apply for loan ? please suggest me.

    Reply ↓
  11. Dinesh

    Hy I am looking a loan for agriculture a am 100% disabled and my father is a farmer how I can take a loan please tell me

    Reply ↓
    1. Team BankBazaar

      Hi Dinesh,
      We’re sorry, we do not offer agricultural loans as of now. Kindly approach any bank that offers the same.
      Cheers,
      Team BankBazaar

      Reply ↓
  12. ketan modi

    Hi, I’m a disabled student and need a educational loan for my post-graduation studies. I want to know which all the banks offer the NHFDC loan scheme to disabled students????

    Reply ↓
    1. Team BankBazaar

      Hi ketan modi,
      You can try applying for this loan using the NHFDC website. All the information you need will be on the website.
      Cheers,
      Team BankBazaar

      Reply ↓
  13. Anil kumar

    Sir me phycial handicaped hu 70% V I low vision or education me B.A complet ho gai or es bar spacial B.S.T.C kr rha hu to muje scholrship and loan ke bare me help chahiye

    Reply ↓
    1. Team BankBazaar

      Hi Anil,

      If you are looking for an Education Loan, please click here. You can get a tax rebate for your Education Loan. Read this post for more information. Those who are physically challenged can get rebated under Section 80U of the Income Tax Act.

      Cheers,
      Team BankBazaar

      Reply ↓
  14. RAGUPATHY

    Sir,
    Iam silver
    jwealar manufacturer
    I want loan 10 lakes
    40℅handicaft

    Reply ↓
    1. Team BankBazaar

      Hi Ragupathy, Kindly check if you’re eligible for a loan here. Cheers, Team BankBazaar

      Reply ↓
  15. akash

    I am 20 year guy,who is physical challenged (phical handicap) with 54% on the phisical challenged certificate finshed my graduation i want that where can i get the loan and how much i will get the loan & what will be the interest for the loan..

    Reply ↓
    1. Team BankBazaar

      Hi Akash,

      You can approach any bank for a loan. Allow us to make things easier for you. Check which banks are willing to offer you a loan here and the amount they’re willing to sanction.

      Cheers,
      Team BankBazaar

      Reply ↓
  16. sunil gogoi

    mera nam sunil gogoi assam ka rehena bala hu. me ak hendicap hu muje ak loan sahiye.plz muje help kore.plz plz

    Reply ↓

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