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Financial Assistance on Home Loan upto Rs 1 lakh to War Widow and War Disabled

Department of Ex-Servicemen Welfare, Govt of India has a scheme to provide funding support on home loan to War Widow, War Bereaved, War Disabled and Attributable Peace time casualties.

Objective:

The aim of this grant is to provide a small measure of relief to war bereaved, war disabled and attributable peace time casualties (all ranks)

Eligibility:

The following criteria must be fulfilled:-

  • This facility is applicable for War Bereaved, War Disabled and Attributable Peace time casualties only.
  • Interest subsidy is admissible up to maximum loan of Rs 1,00,000/- only even though the loan taken may be of a higher amount.
  • Subsidy will be paid up to a maximum period of five years or the date of final repayment of loan whichever is earlier.
  • 50% of the interest charged by bank or Govt /public sector including LIC, GIC, HUDCO would be reimbursable as interest subsidy.
  • The interest subsidy would be payable half yearly direct to the applicant.

Benefits:

Re-imbursement of interest on loan taken from banks for construction of house to War Bereaved, War Disabled and Attributable Peace time casualties is provided out of AFFD Fund. The upper existing limit of Rs 1,00,000/- for eligibility of the interest subsidy, even though the loan taken may be of a higher amount. 50% of the interest charged by the banks or Govt/Public Sector including LIC, GIC and HUDCO would be reimbursable as interest subsidy.

How to apply:

Application should be made with recommendation of the concerned Zilla Sainik Board with the following information/documents:-

  • Certificates from the concerned banker or reputed organizations in Govt/PSUs including LIC,GIC and HUDCO.
  • A copy of Ex-Servicemen Identity Card duly attested.
  • A copy of Discharge Book duly attested.

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