Student Eligibility

Loan shall be available to any Student with 40% or more disability on the basis of Disability certificate issued by authorities empowered to issue such certificate in terms of Statute / notifications / Govt. orders of Central / State / UT Government.

Expenses considered for Loan

Cost of 2-wheeler upto Rs. 50,000/- shall be considered within the overall ceiling of loan amount and in addition to the expenses considered for Loan under existing other education loan schemes

Quantum of Finance

Need Based Finance to meet the expenses (taking into account the prescribed Margin), subject to the following ceilings:

Studies in India - Max. Rs.50 lakh

Studies abroad - Max. Rs.50 lakh

Repayment Period

The maximum repayment period of loan will be in conformity to the guidelines laid down in NHFDC scheme i.e. 10 years after commencement of repayment. The repayment as per repayment schedule would commence one year after completion of course.

Loans with repayment period beyond the ceiling as above are not eligible for refinance under the aforesaid scheme.

Rate of Interest

The loan would carry Interest @ 4% per annum. No rebate/concession in rate of interest would be allowed in respect of the loan for higher education.

Sr. No. Loan amount (Rs. in lakhs) Applicable Rate of Interest to PwDs (%)
1. Upto Rs. 50.00 Lakhs 4%

“Verification of Unique Disability ID (UDID) for loan amount of Rs.15 Lakh and above” –

Unique Disability ID (UDID) registration under Department of Empowerment of Persons with Disability (DEPwD), Ministry of S.J. & E., GoI would be mandatory for loan amount of Rs.15 Lakh and above

Simple interest to be charged during moratorium period. Thereafter compounding interest will be charged.

Processing Charges/ Upfront Fee

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Documentation Charges

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