NTH :: Home loan eligibility for subvention to be raised five-fold


ENS Economic Bureau | Mumbai | August 21, 2014 1:01 am | Indian Express

NTH

Sandhu said the government has to ensure that financing is available at affordable prices.

More interest sops are in store for weaker sections of the society. The government will soon be massively expanding the eligibility cap for the 5 per cent interest subvention scheme to Rs 5 lakh from the current Rs 1 lakh. It will also come out with a blueprint of its affordable housing policy.

“The eligibility limit (for 5 per cent interest subvention) will be increased to Rs 5 lakh from the present Rs 1 lakh. The new scheme interest subsidy scheme will be announced soon,” financial services secretary GS Sandhu said at an event orgainsed by Nardeco.

Under the subvention scheme, the government shares the interest burden on a loan for the particular target segment and such schemes exist of a slew of sectors, including the agriculture.

Sandhu said the government has to ensure that financing is available at affordable prices and conceded that commercial banks have a limitation due to cost of funds.

Source : http://goo.gl/fQahW2

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