Financial Assistance for Purchase or Construction of House (UKBOCWWB)
At a Glance
Scheme Category
Housing & Shelter,Loan,Housing
Target Beneficiaries
Individual
Brief Description
The scheme provides loans of up to ₹50,000/- to construction workers registered with the Uttarakhand Building and Other Construction Workers Welfare Board (UKBOCWWB) for the purchase or construction of a house, at a minimum interest rate of 5% per annum.
Benefit Type
Cash
Eligibility Criteria
1. The applicant must be a construction worker registered with the Uttarakhand Building and Other Construction Workers Welfare Board. 1. To avail an advance loan for the purchase or construction of a house, the worker must have been a member of the fund for at least five years and should have a minimum of 15 years remaining until superannuation/retirement age.
Application Mode
Online - via CSC
Application Process
- The online application is submitted through Shramik Suvidha Kendras. - Along with the application form, the applicant must attach the Shramik Card, Aadhaar Card, bank account details, and a handwritten self-declaration certificate stating that no assistance has been taken from any other department for the same purpose. - If the application is verified and found correct during the departmental investigation, the advance amount is disbursed, on which the worker is required to pay interest at the rate of 5% per annum. - Proof of completion of the work must be submitted to the Secretary of the Board within six months from the date of withdrawal of the advance. The sanctioned advance amount shall be recovered in equal installments as determined by the Board.
Required Documents
- Labour Card Aadhaar Card Bank account details A handwritten self-declaration certificate stating that no assistance has been taken from any other department for the same purpose
FAQs
What is the main objective of the scheme?
The scheme aims to support construction workers by providing them with financial assistance in the form of loans to buy or build their own house at a subsidized interest rate.
How much loan amount is provided under the scheme?
A loan of up to ₹50,000/- is provided for the purchase or construction of a house.
What is the interest rate applicable on the loan?
The loan is provided at a minimum interest rate of 5% per annum.
Who is eligible to apply for this scheme?
Only construction workers registered with the Uttarakhand Building and Other Construction Workers Welfare Board are eligible.
Is there a minimum membership period required?
Yes. The worker must have been a member of the Welfare Fund for at least five years.
Is there an age-related eligibility condition?
Yes. The applicant must have at least 15 years remaining until superannuation/retirement age.
How can a worker apply for this scheme?
The application must be submitted online through Shramik Suvidha Kendras.
How is the loan repaid?
The sanctioned loan amount is recovered in equal installments as determined by the Board.