Introduction
Owning a home is one of the biggest dreams for most people. In Assam, the “Apun Ghar” home loan scheme has made this dream easier to achieve, especially for state government employees. This scheme, offered in collaboration between the Government of Assam and the State Bank of India (SBI), is designed to help employees purchase or construct their first house at a highly subsidised interest rate. Along with attractive terms, the scheme also offers relaxed repayment conditions and zero processing fees.
This detailed guide will explain everything about the scheme — its purpose, benefits, eligibility, documents required, application process, and important points to remember.
- Purpose of the Scheme
The Apun Ghar scheme was introduced to make housing affordable for Assam state government employees. It aims to provide financial support for buying or constructing a home without putting too much burden on the borrower’s monthly income. By offering a significant interest subsidy, the scheme reduces the overall cost of borrowing and makes EMIs more manageable.
- Loan Amount and Interest Rates
One of the biggest advantages of the Apun Ghar scheme is its affordability. Here’s what you need to know:
Maximum Loan Amount: Up to ₹15 lakh without the need for collateral security.
Interest Rate for Women: 5.00% per annum (after subsidy).
Interest Rate for Men: 5.05% per annum (after subsidy).
Interest Subsidy: 3.5% provided by the Government of Assam.
Processing Fees: Completely waived, which means borrowers save on the upfront cost of taking the loan.
This combination of a low interest rate and zero processing fees makes the scheme stand out compared to regular home loan products.
- Loan Tenure and Repayment Conditions
The repayment period can go up to 20 years, giving borrowers enough flexibility to choose an EMI amount they can comfortably afford. However, there are certain age-related restrictions:
For pensionable employees: Loan must be repaid before the borrower turns 70 years old.
For non-pensionable employees: Loan must be repaid before the borrower turns 60 years old.
By allowing a long repayment period, the scheme ensures that monthly EMIs remain low, even for those who opt for the maximum loan amount.
- Eligibility Criteria
To apply for the SBI Apun Ghar home loan in Assam, you must meet the following conditions:
- Permanent Resident of Assam: Only those who belong to Assam are eligible.
- Government Employment: Applicant must be an employee of the Assam state government.
- Minimum Service Period: Generally, at least 5 years of continuous service is required.
- First-time Loan Under the Scheme: The applicant should not have previously availed a loan under the Apun Ghar scheme.
- Minimum Age: Applicant must be at least 21 years old at the time of application.
- Documents Required
When applying for the Apun Ghar loan, you will need to submit the following documents:
Recent passport-size photographs.
Proof of identity (PAN card, Aadhaar card, Voter ID, or Passport).
Proof of address (Utility bill, Aadhaar card, or Ration card).
Latest salary slips.
Salary account statement for the past six months.
Proof of at least 5 years of service (issued by the employer).
Assets and liabilities statement (as per SBI’s format).
Property-related documents (such as land ownership papers if you are constructing a house).
It is important to prepare all documents in advance to avoid delays in loan processing.
- Application Process
Applying for the Apun Ghar home loan is simple, but it must be done correctly. Here’s the step-by-step process:
- Get the Application Form: The form can be collected from your department or downloaded from the official Assam government portal.
- Fill in the Details: Provide accurate personal, employment, and property details.
- Attach Documents: Include all required supporting documents along with the form.
- Submit to DDO: The completed form must be submitted to your Drawing and Disbursing Officer (DDO).
- Forwarding to SBI: The DDO will forward your application to the designated SBI branch for processing.
- Loan Sanction and Disbursement: Once verified and approved, the loan amount will be disbursed to your account.
- Benefits of the Scheme
The Apun Ghar scheme offers several advantages that make it a preferred choice for eligible borrowers:
Low Interest Rate: Significantly lower than regular home loan rates in the market.
No Processing Fee: Saves thousands of rupees in upfront costs.
No Collateral for Loan up to ₹15 Lakh: Makes it easier for borrowers without property to pledge.
Long Tenure: Repayment period of up to 20 years reduces monthly EMI burden.
Government Backing: Ensures reliability and security for borrowers.
- Key Points to Remember
This scheme is specifically for Assam state government employees; others are not eligible.
The interest subsidy is provided directly by the Assam government and applied to your loan.
The loan can be used for both purchase of a ready-built home or construction of a new house.
Ensure you have no existing housing loan under this scheme before applying again.
The repayment age limit is strictly followed by SBI.
- Related Scheme: Aponar Apon Ghar
While the Apun Ghar scheme is for government employees, the Assam government also runs another housing support program called Aponar Apon Ghar, which offers a one-time subsidy on home loans for first-time homebuyers in Assam. It is open to all permanent residents (not just government employees) who meet the income and loan amount criteria. If you are not a state government employee, this alternative scheme may be worth exploring.
- Final Thoughts
The SBI Apun Ghar home loan in Assam is an excellent opportunity for state government employees who want to own a house without taking on heavy financial stress. With low interest rates, no processing fees, and a long repayment period, the scheme is tailored to make homeownership achievable for middle-class employees in the state.
However, as with any loan, it is important to:
Calculate your repayment ability before applying.
Ensure you meet all eligibility requirements.
Submit all necessary documents to avoid delays.
By planning carefully and using the benefits of the Apun Ghar scheme, you can move closer to your dream of owning a home in Assam.
