INTRODUCTION
The state of Assam is quite cultural and has a mesmerizing terrain – over the years the state is slowly unfolding its potential for being a market for real estate investments. As the population increases and many people are hoping to own their houses there are special types of loans that can be obtained from the various institutions. This article will provide details concerning the government home loan schemes that are available in the state of Assam; the need for qualifying and the benefits that one is likely to accrue.
Government Schemes
One of the main programs in Assam is Aponar Aon Ghar Home Loan Subsidy Scheme. This is a social cause which has been taken up by the Finance Department of Assam to offer affordable housing to the people of the state.
Aponar Apon Ghar Scheme
The Aponar Apon Ghar is a subsidized home loan scheme offered by Finance Department, Government of Assam. The major goal is to improve the living standards of the Assam’s residents by offering them cheap means of accommodation.
Key Features:
- Subsidy Amount: The amount that it can compensate up to is ₹ 2. Up to an amount of ₹40 lakh towards home loans, SBI’s offering of offers that cost up to ₹5 lakh.
- Eligibility: First time home buyers who are permanent residents of Assam.
- Income Limit: The family income should not be more than ₹ 20 lakh per annum.
- Loan Amount: Minimum of ₹ 5,00,000/- only.
- Banks: An amount of credit has to be obtained from the Scheduled Commercial Banks, Regional Rural Banks or Assam Cooperative Apex Bank in the state.
Options for Loans / Banks / NBFCs
| Banks / Nbfc | R.O.I | Processing Fees | Loan Amount | Cibil Score | Apply Now |
| HDFC Bank Home Loans | 8.45% – 10% (Reducing Per Annumn) | 0.5% – 1% | 5.00 Lacs and above | 650 or above | https://referloan.in/loans/hdfc-bank-home-loan |
General Eligibility and Document Required for This Type of Loan
Eligibility
- Age: age ranging from 21 years and 65 years of age.
- Income: Adequate income that is stable to repay the loan.
- Credit Score: A good credit record which is above 700 is usually considered as good.
- Employment: sustained employment record for all salary earners or sustained business for the self-employed
Documents Required:
- Proof of Identity: PAN card, Aadhaar card.
- Address Proof: any utility bill or rent agreement.
- Business Proof: Registration certificate, the business license.
- Bank Statements, Income Tax Returns, and Profit & Loss
How Referloan Can Help
ReferLoan is among the rapidly advancing businesses of the Indian nation. It serves all sorts of financial needs through banking and non-banking segments where it interconnects the clients as per the need.
This is how ReferLoan can help!
- Easy Application Process
The home loans have a simple and easy to fill online application process through Referloan’s platform. This makes it convenient to apply from anywhere including Assam.
- Competitive Interest Rates
They offer affordable interest rates which start from as low as 8% through which they establish themselves to ensure you do not spend much money throughout the period of the loan .
- Minimal Documentation
This means that the process of applying for a Referloan does not involve many formalities hence making it less rigorous. This is especially the case when you consider a fast and convenient loan approval process.
- Wide Range of Lenders
They deal with multiple financial institutions which means they will provide you with loans from several financial institutions hence offering you a high likelihood of approval.
- Flexible EMIs
Referloan has custom EMI adjusted that gives its clients an opportunity to select the payment period that they prefer on the loan.
- Eligibility Criteria
That is; the minimum income for those, who are receiving salary, should be ₹25,000 per month. As for the self-employed persons, it is based on audited statement of income of the last financial year along with the Income Tax Returns.
- CIBIL Score
Only if one wants loan, then one must ensure that they have a good CIBIL score, anything above 700. However, low score application may be considered by Referloan if the applicant has got a valid excuse for the credit default.
- Property Value
The loan amount may vary from that the equates to 75 to 90% of the property value – and this makes it easy for you to secure that dream home that you have always wanted.
- Customer Support
Referloan has a very good customer care to assist you in case you have any issues regarding the loans, application, approval or even disbursement.
Frequently Questions
- Which cities in Assam are suitable for availing the home loan?
Some of the target cities for homebuyers for home loans are Guwahati, Dibrugarh, Jorhat, Silchar and Tezpur since the cities are experiencing expansion on real estate and infrastructure.
- What are the possibilities for me to get home loan in Assam?
This will depend of aspects like the applicant’s income, his or her credit status as well as the market worth of the property to be pledged. Normally, lenders are advised to lend up 80-90% of market value of the property as security.
- What are the current interest rate chargeable on home loan in Assam?
Interest rates for home loan in Assam differ according to the company, your credit history, and whether the interest rate is fixed or floating and average about 7.00- 10.00 %.
- which band of home loan interest rates tenure do the home loan providers in Assam provide?
The duration of home loans in Assam varies from 5-30 years this allows one to be able to repay according to his or her capability.