[ecis2016.org] The Aponar Apon Ghar scheme is meant to help home buyers purchase affordable houses through the state government subsidy scheme
State government employees in Assam can avail government subsidy for home purchase under the state’s Apun Ghar scheme. Also known as the Aponar Apon Ghar scheme, the programme will help home buyers purchase affordable houses through the subsidy.
You are reading: Aponar Apon Ghar: Assam home loan subsidy scheme for state government employees
This housing loan scheme of the Assam government was launched in March 2017 and has been extended multiple times since then. Under the scheme, a state government employee can get up to Rs 15 lakhs home loan at subsidised rates. The interest subsidy offered by the state government is 3.5%. This means, for example, State Bank of India (SBI) will offer home loans at 3.5% lower interest rate than its standard home loan rate, to applicants under the scheme.
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Aponar Apon Ghar scheme: Key features
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The state government offers the subsidised home loans as per the scheme through the public lender, SBI. The SBI home loan, under the scheme, could be used for buying a plot and building a dwelling on it, for constructing a house on an existing plot, or for purchasing a flat.
Apart from getting the home loan at subsidised rates, the Assam government employees will also enjoy a complete waiver on home loan processing fees under the Aponar Apon Ghar scheme. The loan repayment period can be extended to 240 EMIs.
While applicants with pension income can pay off this EMI till the age of 60, the tenure cannot exceed more than 60 years of the applicant’s age in case he is not expected to have pension.
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Aponar Apon Ghar scheme eligibility
- The applicant must be a resident of Assam.
- The applicant should be 21 years of age.
- The applicant must be employed with the Assam government for at least five years.
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Aponar Apon Ghar scheme: Documents required
When applying for home loan subsidy under this scheme, the applicant will have to furnish the following documents:
- Passport size photograph
- Identity proof
- Residence proof
- Latest salary slips
- Statement of salary account for the past six months
- No dues salary from the existing banker if the salary is credited in other than SBI account
- Proof of being in service for a minimum of five years
- Statement of personal assets and liabilities in bank’s format
- Documents evidencing the ownership of land
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