What you get
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.
Who can apply
Required Paperwork
- Aadhaar Card
- PAN Card
- Income Certificate
- Residence Proof (Domicile)
Common Questions
What is the maximum loan amount under this scheme?
Up to [?]2,00,000 depending on the skill level of the beneficiary.
What is the interest rate for the loan?
The loan carries a simple interest rate of 5% per annum.
Who is eligible for the house construction loan?
Registered building workers with an active labor card are eligible.
What is the repayment period for the loan?
The loan must be repaid within 5 years.
What happens if I fail to repay the loan on time?
Legal action may be taken by the Board if loan conditions are not fulfilled.
What documents are required for applying?
A valid labor card, completed loan form, and surety bond are required.
Is there a penalty for not submitting a completion certificate?
Yes, failure to submit the certificate within six months can lead to legal consequences.
How is the loan amount decided?
The loan amount is based on the skill level of the worker: unskilled, semi-skilled, or skilled.
How do I apply for the loan?
Apply through the Board with a completed form and surety bond.
What is the purpose of the surety bond?
The surety bond is a legal agreement for loan repayment.
When does the repayment of the loan start?
The repayment begins as per the Board's specified installment schedule.