HomeHBL for Procurement of Modern Home Installations

HBL for Procurement of Modern Home Installations

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Salient features

Sr No Criteria Details
1 Eligibity 1. Air warriors who have completed five years of regular service 2. Applicant must be the sole owner of the subject house property or jointly owned with his/her spouse
2 Max Quantum of Loan Officers – Rs 5 lakh
MWO/WO/JWO – Rs 3 lakh subject to re-paying
Sgt & below – Rs 2 lakh capacity
NCs (E) - Rs 1 lakh
3 Home Installations Covered Modular Kitchen
Solar Heating Energy System
Inbuilt Wardrobes
Rain Water Harvesting System
False Ceiling (wooden/plaster of paris etc)
Security  and Safety Systems (like cctv/fire alarm/ iron grills etc)
4 Rate of Interest 9% pa
5 Repayment of Loan 60 EMIs (max)
6 Processing Fees Nil. (Processing Fee has been waived off wef 01 Oct 17)

Application form : Instructions

  • The application form is to be filled in single copy after ensuring eligibility of loan as per the rules stipulated in Chapter 10 (HBL) of IAP 3601.
  • Strike out words which are not applicable. No column is to be left blank. Incomplete application will be rejected summarily.
  • The application is required to be countersigned by AOC/Stn Cdr/CO/Principal Director (as applicable).
  • No page/ leaf of the application form is to be detached/ removed.
  • Agreement form attached with the application may also be filled in all respects and signed by the applicant at the bottom of the page duly witnessed by two persons/ air warriors of appropriate status.
  • Date and amount is not to be written in the Agreement form and Contingent Bill. (Based on Repaying capacity, the amount approved will be filled by AFGIS).
  • The following is to be attached with the loan application:- (a) Self attested printout of latest e-payslip. (b) Proforma Invoice. (c) Photocopy of registered Sale Deed/Gift Deed of the subject property duly (owned by the applicant or jointly owned with his/her spouse) certified as true copies by the SAo/ Adjutant.
  • Applicant is to clearly state his/her bank A/c No, IFSC code, name & branch of the bank in the Contingent Bill.
  • Application should be forwarded to AFGIS under a covering letter from the applicant's unit.
  • The address to which the cheque is to be sent by post is to be clearly mentioned in the application.
  • The loan shall be mandatorily insured. One-time non-refundable contribution will be recovered from the sanctioned amount of loan.


Amt/ Yrs 50,000/- 1 Lakh 1.5 Lakh 2 Lakh 3 Lakh 5 Lakh
1 4396 8792 13188 17584 26375 43958
2 2308 4615 6922 9229 13844 23073
3 1614 3227 4841 6454 9681 16134
4 1269 2537 3805 5073 7609 12682
5 1063 2125 3188 4250 6375 10624

One time non-refundable contribution towards hbl for procurement of modern home installations insurance for RS 1,00,000/-

Term (in years) Officers Airmen/ NCs(E)
1 319 275
2 484 410
3 651 544
4 819 678
5 988 813