Financial Assistance as Interest Subsidy on Home Loan
in Andaman and Nicobar Islands
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Financial Assistance as Interest Subsidy on Home Loan in Andaman and Nicobar Islands
Financial Assistance as Interest Subsidy on Home Loan is a government scheme available to eligible residents of Andaman and Nicobar Islands.
Apply for Financial Assistance as Interest Subsidy on Home Loan in Andaman and Nicobar Islands
Scheme Overview
The scheme aims to provide 50% reimbursement of interest on home loans up to ₹1,00,000 for eligible war widows, war bereaved families, war disabled personnel, and attributable peacetime casualties.
Eligibility Criteria
The applicant must be a war widow, war bereaved family member, war disabled personnel, or attributable peacetime casualty (all ranks).
The applicant must have taken a home loan from a bank, government/public sector undertaking, LIC, GIC, or HUDCO.
The loan amount considered for subsidy must not exceed ₹1,00,000, regardless of the actual loan amount.
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Benefits
Interest Subsidy Amount: 50% of the interest charged on the home loan.
Loan Limit for Subsidy: Up to ₹1,00,000 (even if the loan amount is higher).
Duration: Maximum of 5 years or until loan repayment is completed, whichever is earlier.
Applicable Loan Sources: Banks, Government/Public Sector undertakings, Life Insurance Corporation (LIC), General Insurance Corporation (GIC), and Housing and Urban Development Corporation (HUDCO).
Required Documents
| # | Document |
|---|---|
| 1 | A certificate to the effect that there would be no change in the schedule of repayment. |
| 2 | A statement showing the amount of interest actually paid for the period covered under the claim. |
| 3 | A certificate to the effect that repayment of loan along with interest was regular. |
| 4 | A copy of Ex-Servicemen Identity Card duly attested. |
| 5 | A copy of Discharge Book duly attested. |
How to Apply in Andaman and Nicobar Islands
Once the application reaches KSB Sectt., the staff and officers at KSB carry out vetting and approval of the application. Final payment is made online in due course based on the availability of funds in AFFD.
Online Once the application reaches KSB Sectt., the staff and officers at KSB carry out vetting and approval of the application. Final payment is made online in due course based on the availability of funds in AFFD.
Common questions in Andaman and Nicobar Islands
Who can apply for Financial Assistance as Interest Subsidy on Home Loan in Andaman and Nicobar Islands?
Eligible residents of Andaman and Nicobar Islands who meet the scheme’s overall criteria can apply for Financial Assistance as Interest Subsidy on Home Loan. Refer to the eligibility section above for the complete checklist.
What documents are required for Financial Assistance as Interest Subsidy on Home Loan in Andaman and Nicobar Islands?
Applicants in Andaman and Nicobar Islands typically need identity proof (Aadhaar), state residency proof, bank account details, and any scheme-specific documents listed in the documents section.
Frequently Asked Questions
₹1,00,000, even if the loan taken is higher. <br>