The “District Central Cooperative Banks and through its Branches: For Housing, House Construction, Repair Extension Loan” scheme is launched by the Co-operation, Food and Consumer Protection Department, Tamil Nadu. This scheme provides financial assistance to citizens for housing construction, repair, and extension projects. The maximum loan amount offered is ₹10,00,000/-, with an interest rate of 12% (subject to change).
Benefits
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Access to Loan:
Up to ₹10,00,000/- can be availed for housing-related needs. -
Interest Rate:
The applicable interest rate is 12%, though this is subject to change.
Eligibility
- The beneficiary must be a resident of Tamil Nadu.
- The loan is applicable exclusively for housing, house construction, repair, or extension purposes.
Application Process
Offline
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Collect the Application Form:
Applicants should collect the application form from the District Central Cooperative Banks or their respective branches. -
Complete the Form:
Fill in all mandatory fields on the form, paste a passport-sized photograph (signed across, if required), and attach copies of all required documents (self-attested if necessary). -
Submit the Form:
Submit the duly filled and signed application form along with the necessary documents to the concerned authority. -
Obtain Acknowledgment:
Request a receipt or acknowledgment from the authority to confirm that your application has been submitted. The receipt should include essential details such as the date and time of submission and a unique identification number (if applicable).
Documents Required
- Identity proof (e.g., Aadhaar, PAN card, etc.).
- Address proof.
- Property documents (Proof of ownership, property deed, etc.).
- Any other documents as required by the authority.
Frequently Asked Questions
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What is the objective of this scheme?
The scheme aims to provide financial assistance for housing construction, repair, and extension. -
What is the maximum loan amount a person can get?
The maximum loan amount offered under this scheme is ₹10,00,000/-. -
What is the rate of interest applicable for the loan?
The interest rate is 12%, though it is subject to change. -
What purposes does the loan cover?
The loan is intended for housing, house construction, repair, and extension purposes. -
Who is eligible to apply for this loan?
Only residents of Tamil Nadu are eligible to apply. -
Where should one apply for the loan?
Applications can be submitted at the District Central Cooperative Banks or their branches. -
Is there an age limit for applying for the loan?
The scheme details do not specify an age limit; applicants should verify with the concerned authority. -
Is the interest rate fixed or subject to change?
The interest rate is currently 12% but is subject to change. -
Is the loan available to all communities?
The scheme is available to all residents of Tamil Nadu, irrespective of community. -
What is the repayment period for the loan?
Details regarding the repayment period should be obtained from the concerned authority at the time of application.