Home Loan Interest Subsidy Scheme- Gujarat Labour Welfare Board
At a Glance
Scheme Category
Banking,Financial Services and Insurance,Housing & Shelter,Loan,Personal finance
Target Beneficiaries
Individual
Brief Description
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.
Benefit Type
Cash
Eligibility Criteria
1. The workers who are working in the organized sector in the state of Gujarat will be eligible to get the benefit of this scheme. 1. 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. 1. The purchase price of the house is a maximum of ₹30 lakhs. 1. The loan tenure should be 15 years or more. 1. Home loans should be taken from Nationalized/Scheduled Bank/NBFC only. 1. Application has to be made within one year from the date of purchase document.
Application Mode
Online
Application Process
> Application Process for Scheme Benefit: Step 01: The applicant may visit the Sanman Portal: <nis:link nis:type=webUrl nis:id=slugId nis:text="https://sanman.gujarat.gov.in/" nis:value=https://sanman.gujarat.gov.in/ nis:enabled=true/> Step 02: On the home page, under the tab ‘Citizen Login’, click on ‘<nis:link nis:type=webUrl nis:id=slugId nis:text="Please Register Here" nis:value=https://sanman.gujarat.gov.in/Home/Registration nis:enabled=true/>’. Step 03: Enter your Aadhaar Card Number, select user type, and then enter your Labour Welfare Fund Account Number. Step 04: Now, click on ‘Fetch’ & verify the details. Step 05: Enter user details and Password. Step 06: After successful registration, the applicants can login through their User ID and Password. Step 07: Now, select the scheme and read the instructions carefully for the selected scheme. Step 08: Fill out the application form and upload all the relevant documents. Step 09: Agree with the Rules & Regulations and submit the application form. A confirmation email with the application Number will be sent on the registered email ID.
Required Documents
- Passport-size Photograph A copy of the identity card issued by the contractor to the worker/labour Aadhaar Card of Labour Labour Welfare Fund Account Number Proof of taking a loan (loan sanction letter) Annual Loan Statement/Annual Interest Certificate Self-declaration Bonafide certificate Bank account details/Bank Passbook Any other documents as required Note: If there is no Labour Welfare Fund Account Number, contact the concerned factory/establishment official.
FAQs
Who launched the "Home Loan Interest Subsidy Scheme"?
The scheme was launched by the Gujarat Labour Welfare Board, under the Labour, Skill Development & Employment Department, Government of Gujarat.
What is the percentage of Interest Subsidy provided under the scheme?
The scheme offers a 3% Interest Subsidy to eligible workers.
What are the maximum loan limitations under the scheme?
A worker can avail a maximum loan of ₹15 lakhs or the interest subsidy of 3%, whichever is less, considering the actual bank interest on the loan taken.
How is the assistance amount disbursed to beneficiaries?
The assistance amount is credited directly to the beneficiary's bank account through Direct Benefit Transfer (DBT).
Who is eligible to benefit from the scheme?
Workers employed in the organized sector in Gujarat are eligible for the scheme.
What are the criteria for continuous employment under the scheme?
Workers must have been continuously employed with the Factory/Company/Organization for at least one year.
What is the maximum purchase price of a house eligible under the scheme?
The purchase price of the house should not exceed ₹30 lakhs to be eligible for the scheme.
What is the minimum tenure for a home loan under the scheme?
The loan tenure should be 15 years or more.
From which financial institutions can a home loan be availed under the scheme?
Home loans should be obtained from Nationalized/Scheduled Bank/NBFC only.
Is there a deadline for applying for the scheme?
Yes, applications must be submitted within one year from the date of the purchase document.
How can one apply for the benefits of the Scheme?
Applicants can visit the Sanman Portal at https://sanman.gujarat.gov.in/ to apply for the scheme benefits.
Can workers from any sector apply for the scheme?
No, only workers employed in the organized sector in Gujarat are eligible for the scheme benefits.