Medium term Advances

Investment Credit (Medium)

* National Handicapped Finance and Development Corporation (NHFDC) has been set up by the Ministry of Social Justice and Empowerment, Government of India on 24th January 1997.

* NHFDC functions as an Apex institution for channelizing the funds to the persons with disabilities through the State Channelizing agencies nominated by the State Government.

* The Government of Tamil Nadu has appointed the Tamil Nadu State Apex Cooperative Bank as a Channelizing agency for receiving funds from the NHFDC.

* The TNSC Bank in turn will refinance to the 23 District Central Cooperative Banks to implement the Scheme in the state.

* The Hon'ble President of India awarded the 'Best Channelising Agency' Award to TNSC Bank for the years 2006-07, 2008-09 and 2013-14.

* Every Financial year NHFDC allocates Notional Advance Fund of 45.00 Crores for the year 2023-24 to the TNSC Bank.

* The Name has been changed from NATIONAL HANDICAPPED FINANCE AND DEVELOPMENT CORPORATION to NATIONAL DIVYANGJAN FINANCE AND DEVELOPMENT CORPORATION With effect from 09.08.2023

ELIGIBILITY CRITERIA FOR AVAILING LOANS:

* Any Indian Citizen with 40% or more disability are eligible for availing the NHFDC loans.

* Minimum age limit for availing the loan is 18 years and Maximum no age limit.

* For the Mental Retardation (MR) persons the Minimum age limit is 14 years.

* The Maximum Loan amount is 50.00 Lakhs.

* The rebate of 1.00% in the rate of interests for the Women with Disability such as Visually Impaired, Hearing Impaired and Mental Retardation Category for the loan amount up to Rs 50,000/- only.

* The Maximum Repayment period is 120 Months.

* Moratorium of 3 Months is available for those who avail the loan.