Financial Assistance as Interest Subsidy on Home Loan
Ministry Of Defence
About This Scheme
The "Financial Assistance as Interest Subsidy on Home Loan" scheme was launched by the Kendriya Sainik Board (KSB), Department of Ex-Servicemen Welfare, Ministry of Defence, Government of India. The scheme aims to provide a small measure of relief to war bereaved, war disabled and attributable peace time casualties(all ranks). Under this scheme, reimbursement of 50% of the interest on a home loan up to ₹1,00,000 is provided for a maximum of five years.
Eligibility
1. The applicant must be a war widow, war bereaved family member, war disabled personnel, or attributable peacetime casualty (all ranks). 1. The applicant must have taken a home loan from a bank, government/public sector undertaking, LIC, GIC, or HUDCO. 1. The loan amount considered for subsidy must not exceed ₹1,00,000, regardless of the actual loan amount.
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).
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.