Assam Government Doubles Loan Limit Under ‘Apun Ghar’ Scheme to Rs 30 Lakh

Guwahati, July 11, 2024: In a significant move to benefit state government employees, the Assam cabinet has decided to increase the loan limit under the ‘Apun Ghar’ home loan scheme from Rs 15 lakh to Rs 30 lakh. This scheme, which provides a one percent interest subvention, aims to make home ownership more accessible for state employees.

Addressing the media, Assam Minister Ranoj Pegu stated, “The Apun Ghar scheme was introduced for state government employees in 2016-17 with a Rs 15 lakh loan and an interest subvention from the government. To date, 37,277 employees have availed themselves of the scheme, securing home loans amounting to Rs 5,663 crore. The Assam government has disbursed Rs 596 crore as interest subvention on these loans.”

Minister Pegu further elaborated on the cabinet’s recent decision, “The loan threshold has been increased from Rs 15 lakh to Rs 30 lakh. Additionally, the government will continue to provide a one percent interest subvention for 20 years. This is excellent news for employees, as they can now obtain a Rs 30 lakh loan from banks with the interest subvention from the Assam government.”

The ‘Apun Ghar’ home loan scheme was launched to offer state government employees in Assam home loans at subsidized interest rates. To facilitate this initiative, the Assam government signed a Memorandum of Understanding (MoU) with the State Bank of India.

The increased loan limit is expected to significantly ease the financial burden on state employees seeking to purchase or construct homes, thereby enhancing their quality of life and financial security.

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