Details
The “Home Loan Interest Subsidy Scheme” was launched by the Gujarat Labour Welfare Board, Labour, Skill Development & Employment Department, Government of Gujarat. Under the scheme, a 3% Interest Subsidy is provided to workers who are employed in the organized sector to buy their own house and get relief from interest deductions on loans taken from banks.
Benefits
- The scheme offers a 3% Interest Subsidy to workers employed in the organized sector for purchasing their own house.
Note 01: The maximum loan on a house purchased by a worker is ₹15 lakhs or an interest subsidy of 3% taking into account the bank interest on the loan actually taken, whichever is less.
Note 02: The assistance amount will be credited to the beneficiary’s bank account through DBT.
Eligibility
- The workers who are working in the organized sector in the state of Gujarat will be eligible to get the benefit of this scheme.
- The workers should have been working continuously with the Factory/Company/Organization for one year and his/her Labour Welfare Fund should have been deposited in the board.
- The purchase price of the house is a maximum of ₹30 lakhs.
- The loan tenure should be 15 years or more.
- Home loans should be taken from Nationalized/Scheduled Bank/NBFC only.
- Application has to be made within one year from the date of purchase document.