Sarkari Yojana
Interest Subvention Scheme For Housing Loan For Regular State Government Employee Under APUN GHAR
About Interest Subvention Scheme For Housing Loan For Regular State Government Employee Under APUN GHAR
Announced in the Budget Speech,2016-2017, Apun Ghar is a fresh home loan scheme for Assam Government employees. It offers state Government employees home loans at subsidised interest to buy or build a new house/flat, buy an existing/old house/flat, or take over Home Loans from other Banks only. Thanks to the 3.50% Assam Government Interest Subvention Scheme, the current effective rate comes to 5% for women and 5.05 % for men.
The subsidy is credited to the employees’ Salary accounts, from which the Home loan instalment is recovered, and is charged to a prefunded subsidy account held by the Government of Assam. After each release, a monthly beneficiary list is sent to Govt. of Assam. Acting on SBI’s proposal, the State Government has agreed to allow State Government employees in pensionable service a repayment schedule extending past retirement up to 70 years of age. SBI made this offer for employees whose pension account is with SBI and who give an undertaking and Standard Instruction (SI) to SBI to deduct EMIs from that pension account.
Scheme Overview
State Government
Individual
16 Mar 2016
Scheme Details
Eligibility Requirements
To qualify for Interest Subvention Scheme For Housing Loan For Regular State Government Employee Under APUN GHAR, applicants must satisfy the following conditions:
Permanent Employees of State Government of Assam having…
Permanent Employees of State Government of Assam having 5 years or more of residual service can use the scheme once during their service.
Borrowers must be at least 21 years old…
Borrowers must be at least 21 years old with 5 years or more of residual service; the upper age is 70 years for pensionable service and 60 year for non-Pensionable service
Interest subvention is only for eligible employees applying…
Interest subvention is only for eligible employees applying for a housing loan within 2 (two) years of the date the Government Office Memorandum/Notification is issued
An employee without an SBI salary account, or…
An employee without an SBI salary account, or with one for under 1 Year, must furnish a 'No Dues' certificate from the existing/previous Banker.
A loan above ₹ 15 Lacs may be…
A loan above ₹ 15 Lacs may be taken, but the Assam Government Interest Subvention Scheme applies only up to the prescribed limit.
Close relatives who are all Assam government employees…
Close relatives who are all Assam government employees may borrow jointly, in which case the subvention applies to the loan with their prescribed limits clubbed together.
Anyone who has already benefited from Apun Ghar…
Anyone who has already benefited from Apun Ghar cannot apply.
Buying an ancestral plot from a close relative…
Buying an ancestral plot from a close relative such as Parents/Spouse/Siblings/Children is never covered.
Benefits Provided
Interest Subvention Scheme For Housing Loan For Regular State Government Employee Under APUN GHAR provides the following benefits to eligible applicants:
With the State Government's interest subvention @3.5 %,…
With the State Government's interest subvention @3.5 %, employees can obtain housing loans of up to ₹ 15.00 lakh at 5.0% (women) and 5.05 % (men)
Following the SBI Proposal, State Government employees in…
Following the SBI Proposal, State Government employees in pensionable service get a repayment schedule that continues past retirement up to 70 yrs of age.
Since the pension accounts are with SBI, the…
Since the pension accounts are with SBI, the bank will handle deduction of the housing loan after retirement up to 70 years. To suit employees, EMIs will be set higher during service and lower after retirement.
Loans up to ₹ 10.00 lakh need no…
Loans up to ₹ 10.00 lakh need no mortgage of property, and SBI has asked its corporate center to raise this limit to ₹ 15.00 lakhs.
SBI's team will make sure employees receive hassle-free…
SBI's team will make sure employees receive hassle-free service and departments have a single dedicated window at the bank for all scheme matters.
Employees must take comprehensive insurance on the bank-financed…
Employees must take comprehensive insurance on the bank-financed house/flat against fire/riots/earthquake/lightning/floods. etc.
The employee's Drawing and Disbursing Officer will provide…
The employee's Drawing and Disbursing Officer will provide a check-off facility to recover interest and principal from salary.
The concessional rate with State government subvention applies…
The concessional rate with State government subvention applies for up to 240 EMI, i.e. up to 20 years of EMI deduction
Documents Required
Applicants should keep the following documents ready before starting the application:
Five copies of a passport-size photograph
Five copies of a passport-size photograph.
Identity proof
Identity proof: any one of Pan Card/Voter id/Identity Card/etc
Residence proof
Residence proof: any one of Electricity Bill/Telephone (Landline) (no older than 2 months)/Passport/SBI AC Passbook showing the current address.
Form 16 covering the last 2 years
Form 16 covering the last 2 years.
Most recent salary certificate listing all deductions, certified…
Most recent salary certificate listing all deductions, certified by the DDO.
Salary account statement for 6 months (required where…
Salary account statement for 6 months (required where salary is not drawn from SBI)
No dues certificate from the current banker where…
No dues certificate from the current banker where salary goes to a bank other than SBI.
Statement of Personal Asset & Liabilities in the…
Statement of Personal Asset & Liabilities in the Bank's format.
Proof of ownership of the Land/Building being bought/built…
Proof of ownership of the Land/Building being bought/built (e.g. Jamabandi Copy etc.)
2016-03-16
How to Apply
Offline Application
Applicants can apply for Interest Subvention Scheme For Housing Loan For Regular State Government Employee Under APUN GHAR through the offline application process outlined below.
Application Portal: Open Application Portal ↗
Employees apply using the scheme's dedicated application form,…
Employees apply using the scheme's dedicated application form, routed through their Drawing and Disbursing Officer(DDO)
The DDO certifies the Salary Certificate with Deduction,…
The DDO certifies the Salary Certificate with Deduction, Grade, Date of Joining, Date of retirement, Nature of Service (Pensionable or non-pensionable) and any other required information, carries out a preliminary check, and sends the application with a check off letter to SBI's special team. Every DDO is linked to a special team close by.
Special teams set up at each regional business…
Special teams set up at each regional business office and certain identified SBI Branches process the file for sanction, so that employees enjoy hassle-free service and the department deals with a single dedicated window at the bank.
If the case fits the scheme, the Special…
If the case fits the scheme, the Special Team grants sanction according to the criteria the Bank has laid down for the scheme.
After sanction, documentation and Disbursement are handled at…
After sanction, documentation and Disbursement are handled at a branch near either the property or the applicant's place of posting, as the applicant prefers
Grievance redressal cells dedicated to the scheme are…
Grievance redressal cells dedicated to the scheme are to be set up at each regional business office, certain identified SBI Branches and the Local head office, Guwahati, to address grievances of the Employees of the govt. of Assam
Official Application & Website
Verify the latest eligibility, dates and instructions before applying.