Interest rate on home loans
Interest rate on home loans The below information compiled from the written reply of Minister of State for Finance to a question in Parliament on 6.8.2013... 1% Interest Subvention Scheme: To stimulate demand for credit for housing in the middle & lower income segment, a scheme of 1% Interest Subvention Scheme for Individual housing loans up to 10 Lakh and cost of the unit up to 20 lakh was introduced by the Government from 1st October, 2009. From FY 2011-12, eligibility under the Scheme has been increased for housing loan up to 15 lakh, where the cost of unit does not exceed 25 lakh. All States/UTs in the country, including rural & urban areas are covered under the Scheme. The Scheme has helped in increased access to houses by individuals. The Status of disbursement made under the 1% ISS is placed below: ( Crore) S. No. Disbursement for the Period Disbursement of subsidy 1 Financial Year 2010-11 38.54 2...