Loans and Advances for Construction of a House

About This Scheme

The "Loans and Advances for Construction of a House" scheme by the Manipur Building and Other Construction Workers' Welfare Board provides financial support to registered construction workers to build their own houses. Beneficiaries can avail loans based on their skill level, with amounts ranging from ₹1,00,000/- to ₹2,00,000/-. The loan carries a 5% simple interest, with a 5-year repayment period, and the worker must submit a completion certificate within six months of receiving the loan.

Eligibility

1. The construction worker should be registered under the Manipur Building and Other Construction Workers' Welfare Board. 1. The construction worker should have an active labor card. 1. The construction must execute a surety bond.

Benefits

> *Financial assistance for house construction for building workers:* - Unskilled Labour: ₹1,00,000/-. - Simi-Skilled Labour: ₹1,50,000/-. - Skilled Labour: ₹2,00,000/-. > *Rate of Interest:* - Simple interest rate of 5% per annum. > *Repayment:* - 5-year repayment period with monthly installments.

How to Apply

Where This Comes From

This scheme was sourced from myScheme, the Government of India's official Central+State scheme discovery portal, and reviewed by an editor before publishing. Use the button above to read the full details and apply directly on the official source.