The Interest Subvention Scheme for Housing Loan under Apun Ghar is designed to assist regular state government employees in Assam by providing them with subsidized interest rates on home loans. This initiative, managed by the Finance Department, aims to ease the financial burden of purchasing or constructing homes. Employees stand to benefit significantly from reduced loan interest rates, making home ownership more accessible.
Interest Subvention Scheme For Housing Loan For Regular State Government Employee Under APUN GHAR: Eligibility and How to Apply: At a Glance
| Scheme Name | Interest Subvention Scheme For Housing Loan For Regular State Government Employee Under APUN GHAR |
| Run By | Finance Department |
| Level (Central/State) | State |
| Beneficiaries | Regular State Government Employees of Assam |
| Main Benefit | Subsidized home loan interest rates |
| Application Mode | Offline |
| Official Website | https://finance.assam.gov.in/sites/default/files/INTEREST%20SUBVENTION%20SCHEME%20FOR%20HOUSING%20LOAN%20FOR%20REGULAR%20STATE%20GOVERNMENT%20EMPLOYEES%20UNDER%20APUN%20GHAR%2C%20FILENO.%20FM.45.2016.157%2C%20DTD.21.03.2017_1.PDF |
What You Get: Benefits
- The state government offers an interest subvention of 3.5%, resulting in effective housing loan rates of 5% for women and 5.05% for men.
- Loan amounts can go up to ₹ 15.00 lakh under this scheme.
- Employees with pensionable service can have a loan repayment schedule extending up to 70 years of age.
- No mortgage is required for loans up to ₹ 10.00 lakh.
- Comprehensive insurance for the purchased or constructed house/flat is mandatory.
- Check-off facility for recovery of interest and principal from salary is provided.
- The reduced interest rate is applicable for up to 240 EMIs, or 20 years.
Who Can Apply: Eligibility Checklist
To qualify for the scheme, applicants must meet the following criteria:
- Are permanent employees of the State Government of Assam.
- Have at least 5 years of residual service.
- Are a minimum of 21 years old and not older than 70 years for pensionable service or 60 years for non-pensionable service.
- Apply for the housing loan within 2 years of the government office memorandum issuance.
- Hold a salary account with SBI for at least one year or provide a ‘No Dues’ certificate from the previous banker.
- Are not already beneficiaries of the Apun Ghar scheme.
- Do not intend to purchase an ancestral plot of land from close relatives.
Who Is Not Eligible
The following individuals are not eligible for the scheme:
- Those who have already benefited from the Apun Ghar scheme.
- Individuals purchasing ancestral plots of land from close relatives.
Documents Required
- Application form designed for the scheme.
- Salary certificate with details certified by the Drawing and Disbursing Officer (DDO).
- ‘No Dues’ certificate from the previous banker, if applicable.
How to Apply
Offline
- Obtain the application form from your respective Drawing and Disbursing Officer (DDO).
- Complete the application form and gather required documents including the salary certificate.
- Submit the application along with the salary certificate to the DDO for preliminary scrutiny.
- The DDO will forward the application and check-off letter to a special team at SBI.
- The special team at SBI will process the application for sanction based on the criteria of the scheme.
- Post sanction, documentation and disbursement will occur at a nearby SBI branch.
- Utilize the grievance redressal cell if any issues arise during the process.
Common Mistakes and Practical Tips
- Ensure all documents are complete and match the requirements to avoid delays.
- Verify that your salary account is with SBI and has been active for at least one year.
- Submit your application within the stipulated time frame of two years from the notification date.
- Check for eligibility based on service type (pensionable or non-pensionable) before applying.
- Consult with your DDO for any clarifications regarding the application process.
Frequently Asked Questions
What is the interest rate under this scheme?
The interest rate is 5% for women and 5.05% for men after the 3.5% subsidy.
Who qualifies for the scheme?
Permanent state government employees of Assam with at least 5 years of residual service qualify.
Where can I apply for the scheme?
Applications must be submitted through the respective Drawing and Disbursing Officer.
How can I check the status of my application?
Contact the DDO or the special team at the SBI branch handling your application for status updates.
Is there a renewal process for the loan?
The scheme does not mention a renewal process; it is available once during the service tenure.
Is there a helpline for assistance?
As per official notification, no specific helpline has been provided.
मुख्य जानकारी हिंदी में
- यह योजना असम सरकार के नियमित कर्मचारियों के लिए है।
- आवेदन की शुरुआत 16 मार्च 2016 को हुई थी।
- लोन की अधिकतम राशि ₹15 लाख है।
- महिलाओं के लिए ब्याज दर 5% और पुरुषों के लिए 5.05% है।
- आवेदन प्रक्रिया ऑफलाइन है।
| Interest Subvention Scheme For Housing Loan For Regular State Government Employee Under APUN GHAR: Eligibility and How to Apply – Important Links | |
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| Guidelines | Click Here |
