Apun Bahan Scheme Assam – Benefits | Eligibility Criteria and Application Procedure!

Apun Bahan Scheme Assam – During yesterday’s cabinet meeting, the Assam government approved the “Apun Bahan” scheme. The program is made to offer auto loan interest savings, making it easier for qualified employees to purchase vehicles.

Under the “Apun Bahan” initiative, the State Government would provide interest concessions to borrowers of motor vehicle loans from scheduled commercial banks, local rural banks, and the Assam Cooperative Apex Bank, which is accredited by the Reserve Bank of India.

Apun Bahan Scheme Assam – Benefits | Eligibility Criteria and Application Procedure!

Benefits of Apun Bahan Scheme Assam

The Assam government would provide a one-time financial assistance of up to INR 2,50,000 to all permanent residents of Assam who apply for home loans from Scheduled Commercial Banks, Regional Rural Banks, and the Assam Cooperative Apex Bank that have been approved by the Reserve Bank of India.

The applicant’s eligibility for help under this program will be based on the amount of the loan they have taken. The amount of the subsidy must fit into one of the following groups.

Eligibility Standards For Apun Bahan Scheme Assam

Subject to the following requirements, individual housing loans up to Rs. 40 lakhs approved on or after 01/04/2019 are eligible for the benefit:

The candidate must be an Indian national who lives in Assam full-time.

The house being bought must be located in the Assam state.

The Composite Family’s combined annual income cannot be more than Rs. 20,000,000/-.A family that consists of a husband, a wife, and their unmarried, dependent sons and daughters is referred to as a “Composite Family”. A family that consists of a husband, a wife, and their unmarried, dependent sons and daughters is referred to as a “Composite Family”.

Members of the beneficiary’s composite family cannot have purchased a home on their own or through inheritance of an ancestor’s property.

The government’s main goal is to gradually encourage economic growth, so only new house loans that banks sanction in 2019–2020 will be eligible for a subsidy under this program. Foreclosed mortgages refinancing prior to 2018-19 are not qualified for subsidies under this scheme.

In addition, to qualify for subsidies under this scheme, loan accounts must have house loans approved for at least Rs. 5 lakhs.

Documents Necessary For Apun Bahan Scheme Assam

When requesting a loan through a housing program, the required documentation must be provided.

a photo the size of a passport

PAN cards, identity cards, voter identification cards, etc.

Proof of Residence

The most recent pay stub that has all deductions verified in writing by the DDO

Statement of salary for the previous six months

There are no unpaid wages from the present banker if the pay is credited elsewhere other than an SBI account.

Personal Assets and Liabilities Statement in Bank Format

A record of your employment for at least five years.

documents attesting to your land ownership the land

Application Method Required For Apun Bahan Scheme Assam

To enroll in the home loan program, please follow the steps listed below:

To obtain the application form, the applicant must visit the Assam Government’s official website.

On the portal’s home page, you can access the “schemes and projects” option.

To get the application form, the user must choose “Apun Ghar”.

Assemble the appropriate attachments and complete the form with the essential information.

The Drawing and Disbursement Officer (DDO) must receive an application that has been correctly filled out by the applicant.

Note: The State Bank of India will receive the loan application and forward it to the DDO (Drawing and Disbursement Officer) for processing and loan disbursement.