Interest Free Loan (CBOCWWB)
in Chandigarh
Last updated:
Interest Free Loan (CBOCWWB) in Chandigarh
Interest Free Loan (CBOCWWB) is a government scheme available to eligible residents of Chandigarh.
Apply for Interest Free Loan (CBOCWWB) in Chandigarh
Scheme Overview
Under this scheme, interest free loan shall be granted to the registered construction workers of the Board for the purchase of items like Fridge, Television/ LCD, Motor Cycle/Scooter, Cooler, Fan & Bicycle.
Eligibility Criteria
The beneficiary should be working in the Establishment, registered under the Punjab Labour Welfare Fund Act, 1965 and his contribution towards labour welfare fund should regularly been received by the Board.
The beneficiary can apply for the grant of loan for the purchase of one item at a time.
The installment of the loan will be recovered from the salary of the workers by the employer and said amount should be deposited through the payee A/c Cheque in favour of Chandigarh Labour Welfare Board by the Principal Employer.
Interest free loan amount will be recovered in equal monthly installments as per the rule.
The loan will not be granted to those beneficiaries who will be found defaulters in the earlier loan.
The Loan will be sanctioned subject to the standing guarantee of the employer.
Any beneficiary will be eligible to avail of benefits of the scheme only after 06 months of becoming the beneficiary member of the Board at least for the last six months.
Benefits
Interest Free Loan for the purchase of the following items:
Required Documents
| # | Document |
|---|---|
| 1 | Passport size photograph |
| 2 | Filled-in/signed form of CBOCW Board |
| 3 | A copy of Aadhaar Card of applicant |
| 4 | BOCW Card, if any |
| 5 | Copy of Aadhaar Card of nominee |
| 6 | Bank details |
| 7 | Receipt of payment file |
| 8 | Any other relevant documents |
| 9 | Passport-size photograph |
| 10 | A copy of Aadhaar card of the applicant |
| 11 | Standing guarantee of the employer in shape of an affidavit |
| 12 | Bank account details/Bank Passbook |
| 13 | Copy of salary slip of the worker |
| 14 | Any other relevant documents |
Common questions in Chandigarh
Who can apply for Interest Free Loan (CBOCWWB) in Chandigarh?
Eligible residents of Chandigarh who meet the scheme’s overall criteria can apply for Interest Free Loan (CBOCWWB). Refer to the eligibility section above for the complete checklist.
What documents are required for Interest Free Loan (CBOCWWB) in Chandigarh?
Applicants in Chandigarh typically need identity proof (Aadhaar), state residency proof, bank account details, and any scheme-specific documents listed in the documents section.
Frequently Asked Questions
The Interest Free Loan Scheme is an initiative launched by the Chandigarh Building and Other Construction Workers Welfare Board (CBOCWWB), under the Labour Department, Chandigarh. This scheme aims to provide interest-free loans to registered construction workers for the purchase of specified items, including Fridge, Television/LCD, Motor Cycle/Scooter, Cooler, Fan, and Bicycle.