Loan Facility for Physically Handicapped Person

India is an equal opportunity provider. In a bid to instill self-confidence amongst the physically handicapped community, several banks and government entities have come up with prioritized loans at low interest rates for the differently-abled.

Lenders like BOI, Vijaya Bank, SBI etc., have come up with special loan products that cater exclusively to the disabled. National Handicapped Finance and Development Corporation (NHFDC) has implemented a scheme for professionally educated unemployed disabled youth known as Scheme for Disabled Young Professional.

Eligibility Criteria

•    Any Indian citizen having 40% or above disability

•    Age criteria: The applicant must be between 18 and 45 years

•    Must have a professional degree from a recognized university/Institute

•    The activity which has been proposed must be directly relevant to the professional degree of the applicant

Financial Assistance

Maximum Limit of loan:

•    The maximum loan limit is Rs. 25 lakhs

BOI Star Mitra Personal Loan

This is a special loan scheme for the physically challenged, with the sole aim being to help physically challenged persons to function independently. The end use of the loan amount could be to purchase durable and sophisticated aids/appliances that promote their physical and social rehabilitation. Processing Charges and insurance are waived.


•    Any Indian citizen having 40% or above disability
•    Must be salaried or self-employed, 
•    Physically Challenged Minors through their Parents/Legal Guardians
Financial Assistance
•    Demand / Term Loan - Secured
•    Amount: Maximum of Rs. 1 lakh (No minimum stipulation)
•    Eligible Amount: 10 times of net salary for salaried persons and 50% of net annual income as per latest Income Tax Return for Self-employed/Professionals.
•    Net take-home income should not be less than 40% after availing this loan. (In case of Minors, the income of the Parents/Legal Guardians would be the deciding criteria for eligibility).


12 to 60 months, commencing one month after full disbursement/ three months after the first disbursement, whichever is earlier.

Security required

Hypothecation of the equipment purchased out of Bank Finance

Terms and Conditions

•    A doctor's certificate is to be obtained regarding the extent of handicap and the need for the equipment
•    Quotation/Invoice in respect of the equipment to be purchased
•    Stamped receipt to be submitted after purchase of the equipment

If you are in need of financial assistance and need access to quick funds, you can consider applying for a personal loan.

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