Launched by the Gujarat Labour Welfare Board under the Labour, Skill Development & Employment Department, Government of Gujarat, the Home Loan Interest Subsidy Scheme provides a 3% interest subsidy to workers employed in the organized sector for purchasing their own house. The scheme is designed to offer financial relief by reducing the interest burden on home loans taken from banks, making home ownership more affordable for eligible workers.
Benefits
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Interest Subsidy:
A 3% interest subsidy is provided on home loans. -
Loan Limit:
The maximum loan amount eligible for the subsidy is ₹15 lakhs, or the subsidy is calculated on the bank interest on the actual loan taken, whichever is lower. -
Disbursement:
The assistance is credited directly to the beneficiary’s bank account through the Direct Benefit Transfer (DBT) system.
Eligibility
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Employment:
The scheme is available to workers employed in the organized sector in Gujarat. -
Continuous Employment:
Workers must have been continuously employed with a factory, company, or organization for at least one year, with their Labour Welfare Fund contributions deposited in the board. -
House Purchase Price:
The purchase price of the house should not exceed ₹30 lakhs. -
Loan Tenure:
The home loan must have a minimum tenure of 15 years. -
Financial Institutions:
Home loans must be taken from nationalized or scheduled banks or NBFCs. -
Application Deadline:
Applications must be made within one year from the date of the purchase document.
Application Process
Online via Sanman Portal
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Visit the Sanman Portal:
Go to https://sanman.gujarat.gov.in/. -
Register as a Citizen:
- Under ‘Citizen Login’, click on “Please Register Here.”
- Enter your Aadhaar Card Number, select your user type, and enter your Labour Welfare Fund Account Number.
- Click “Fetch” to verify your details.
- Fill in your user details and create a password.
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Login:
- Log in using your User ID and Password.
- Select the scheme “Home Loan Interest Subsidy Scheme” from the home page after reading the instructions.
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Application Form:
- Fill out the application form and upload all relevant documents.
- Agree with the Rules & Regulations.
- Submit the application form.
- A confirmation email with your application number will be sent to your registered email ID.
Documents Required
- Passport-size photograph.
- A copy of the identity card issued by the contractor to the worker/labour.
- Aadhaar Card of the labour.
- Labour Welfare Fund Account Number.
- Proof of taking a home loan (loan sanction letter).
- Annual Loan Statement/Annual Interest Certificate.
- Self-declaration.
- Bonafide certificate.
- Bank account details/Bank Passbook.
- Any other documents as required.
Note: If a worker does not have a Labour Welfare Fund Account Number, they should contact the concerned factory/establishment official.
Frequently Asked Questions
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Who launched the “Home Loan Interest Subsidy Scheme”?
It was launched by the Gujarat Labour Welfare Board under the Labour, Skill Development & Employment Department, Government of Gujarat. -
What is the percentage of Interest Subsidy provided under the scheme?
A 3% interest subsidy is provided. -
What are the maximum loan limitations under the scheme?
The maximum loan amount is ₹15 lakhs or the subsidy is calculated on the interest of the actual loan taken, whichever is lower. -
How is the assistance amount disbursed to beneficiaries?
The assistance is credited directly to the beneficiary’s bank account through DBT. -
Who is eligible to benefit from the scheme?
Workers employed in the organized sector in Gujarat with a minimum of one year of continuous employment and whose Labour Welfare Fund is deposited in the board. -
What are the criteria for continuous employment under the scheme?
Workers must have been employed continuously for at least one year in a factory, company, or organization. -
What is the maximum purchase price of a house eligible under the scheme?
The purchase price should not exceed ₹30 lakhs. -
What is the minimum tenure for a home loan under the scheme?
The loan tenure must be at least 15 years. -
From which financial institutions can a home loan be availed under the scheme?
Home loans must be taken from nationalized banks, scheduled banks, or NBFCs. -
Is there a deadline for applying for the scheme?
Applications must be made within one year from the date of the house purchase document. -
How can one apply for the benefits of the scheme?
Applications can be submitted online via the Sanman Portal. -
Can workers from any sector apply for the scheme?
Only workers employed in the organized sector are eligible.