Divyangjan Swavalamban Yojana- The government is running several schemes to empower the disabled economically. Their aim is to help physically handicapped people in education and employment so that they can become self-reliant.
One such scheme of the central government is Divyangjan Swavalamban Yojana. Let us know what is the eligibility for this scheme and how to avail its benefits.
What is the Disabled Self-Reliance Scheme?
This scheme is completely for disabled people. Its purpose is to provide loans at concessional rates to disabled people for higher education after 12th and to learn skills or skills to increase income.If disabled people want to buy any machine to expand their business or want to modify any machine or vehicle according to their disability, they also get help.
What is the eligibility?
Any Indian citizen with 40 percent or more disability under the Rights of Persons with Disabilities Act, 2016 can avail the benefits of this scheme. The age of the beneficiary should be 18 years or more. However, if someone is slightly mentally challenged, then the age limit for him is kept at 14 years. If we talk about education loan, then there is no age restriction for it. But, in other cases, age certificate will have to be submitted.
How much loan can be availed under the scheme?
Through various schemes of National Handicapped Finance and Development Corporation (NHFDC), a beneficiary can get a maximum concessional loan of Rs 50 lakh. Depending on the purpose for which you are taking the loan, the interest rate can be between 5 to 9 percent. If you are taking a loan for higher education, you can get help even at an interest rate of 4 percent.
Beneficiaries have to repay the loan within a time frame of 10 years from the date of taking the loan. The number of times you want to repay the loan depends on your convenience. If you want to finish the loan before time, you can repay the loan without any pre-payment fee.