Apun Ghar is a home loan scheme introduced as per the Budget Speech 2016-2017 for Assam Government employees. Under this scheme, state government employees can avail home loans for purchasing, constructing, or taking over existing home loans at subsidized interest rates. With an interest subvention of 3.50%, the effective interest rate becomes 5.0% for women and 5.05% for men. The subsidy amount is credited directly to the employees’ salary accounts and is recovered through deductions from a prefunded subsidy account maintained by the Government of Assam. Additionally, the scheme provides a loan repayment schedule for employees with pensionable service beyond retirement, up to 70 years of age.
Benefits
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Subvention of Interest:
A 3.5% interest subvention is provided, reducing the effective rate to 5.0% for women and 5.05% for men on housing loans up to ₹15.00 lakh. -
Extended Loan Repayment:
Employees with pensionable service can have their loan repayment extended up to 70 years of age, with EMI deductions adjusted higher during the service period and lower post-retirement. -
No Mortgage Requirement for Lower Loan Amounts:
For loan amounts up to ₹10.00 lakh, no mortgage of property is required. There is potential to increase this margin up to ₹15.00 lakh subject to SBI’s corporate guidelines. -
Hassle-free Service:
A dedicated single window at SBI ensures streamlined processing and service. -
Insurance Coverage:
The house or flat financed under this scheme must be comprehensively insured against risks such as fire, riots, earthquake, lightning, and floods. -
Check-off Facility:
A check-off facility is available for EMI recovery from the employee’s salary. -
Long-term EMI Deduction:
The reduced interest rate applies for up to 240 EMIs (20 years).
Eligibility
- Employee Status:
Permanent employees of the Assam Government with a minimum of 5 years of residual service are eligible. - Age & Service:
Applicants must be at least 21 years old and have a minimum of 5 years of residual service. For pensionable employees, the maximum age is 70 years; for non-pensionable employees, it is 60 years. - Salary Account Requirement:
Employees must have their salary account with SBI. If not, a ‘No Dues’ certificate from the previous banker is required. - Loan Limit:
While loans above ₹15 lakh may be taken, the Assam Government Interest Subvention Scheme applies only up to the prescribed limit. - Joint Applications:
Close relatives employed as government employees can apply jointly; the prescribed limit will be clubbed together. - Exclusions:
Employees who have already benefited under the Apun Ghar scheme and those purchasing an ancestral plot from a close relative are not eligible.
Application Process
Offline
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Application Submission:
Employees apply by filling out a specially designed application form provided by their respective Drawing and Disbursing Officer (DDO). -
Certification by DDO:
The DDO certifies the salary certificate (including details such as deductions, grade, joining date, retirement date, and whether the service is pensionable or non-pensionable) and forwards the application along with a check-off letter to a dedicated SBI team. -
Sanction Process:
The application file is processed by a special team at regional SBI business offices or designated branches. The team evaluates the case as per the scheme criteria and accords sanction if eligible. -
Documentation and Disbursement:
Post-sanction, the file undergoes documentation and is sent to a branch nearest to the property location or employee’s posting, as per the applicant’s choice. -
Grievance Redressal:
A dedicated grievance redressal cell is available at each regional SBI business office and select branches (especially in Guwahati) to address employee grievances regarding the scheme.
Documents Required
- Passport-size photographs (5 copies).
- Proof of Identification (e.g., PAN Card, Voter ID, etc.).
- Proof of Residence (e.g., Electricity Bill, Telephone Bill not older than 2 months, Passport, or SBI Account Passbook with updated address).
- Form 16 for the last 2 years.
- Latest Salary Certificate (with all deductions, certified by the DDO).
- 6-month salary account statement (if salary is not drawn from SBI).
- ‘No Dues’ certificate from the existing banker (if salary is credited elsewhere).
- Personal Asset & Liabilities Statement (in the bank’s format).
- Document evidencing ownership of land/building to be purchased/constructed (e.g., Jamabandi Copy).
Frequently Asked Questions
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What is the subvention of interest provided under the scheme?
The scheme offers an interest subvention of 3.5%, reducing the effective rate to 5.0% for women and 5.05% for men. -
Who is responsible for EMI deductions beyond retirement?
SBI manages the EMI deduction for employees with pensionable service, extending the repayment schedule up to 70 years of age. -
Is a mortgage required for the loan amount?
No mortgage is needed for loan amounts up to ₹10.00 lakh; the margin may be increased to ₹15.00 lakh as per SBI’s corporate guidelines. -
Will the property purchased/constructed be insured?
Yes, the property must be comprehensively insured against risks like fire, riots, earthquake, lightning, and floods. -
For how many EMIs is the reduced interest rate applicable?
The reduced rate applies for up to 240 EMIs (20 years). -
Who can benefit from the scheme?
Permanent Assam Government employees with at least 5 years of residual service, who maintain their salary account with SBI, are eligible. Close relatives can also apply jointly if all are government employees. -
Can an employee avail the scheme multiple times?
No, an employee can benefit from the scheme only once during their service tenure. -
What is the minimum and maximum service period for eligibility?
The applicant must be at least 21 years old with a minimum of 5 years of residual service; maximum age is 70 years for pensionable employees and 60 years for non-pensionable employees. -
How do beneficiaries apply for the scheme?
Applications are submitted offline via the DDO using a designated application form, followed by processing and sanction by a special SBI team. -
How are grievances handled under the scheme?
A grievance redressal cell has been established at regional SBI business offices and select branches to address any issues raised by employees. -
How is the subsidy claim lodged?
The subsidy is directly credited to the salary account, and the beneficiary list is submitted to the Government of Assam on a monthly basis after subsidy release. -
How is the loan disbursed?
Once sanctioned, the loan is disbursed through a branch nearest to either the property location or the employee’s posting, as per the applicant’s choice.