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 - Officers : After confirmation of commission.
- Airmen/ NCs(E) : After completion of 2 years of service.
2 Max Quantum of Loan Officers – Rs 10 Lakh
Airmen – Rs 6 Lakh
NCs (E) - Rs 3 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 120 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 4373 8746 13118 17491 26236 43726
2 2285 4569 6853 9137 13706 22843
3 1590 3180 4770 6360 9540 15900
4 1245 2489 3733 4978 7466 12443
5 1038 2076 3114 4152 6228 10380

One time non-refundable contribution towards insurance on HBL for purchase of modern home installations of ₹ 1,00,000/-

Term (in years) Amount of Contribution (Per Lakh) (wef 01 Jan 2018)
1 202
2 389
3 548
4 683
5 809