Before applying for HBL from AFGIS, applicants must read the policy governing grant of HBL given in Chapter 10 of IAP 3601 and the AFGIS website (afgis.iaf.in) and AFNET. Applicants are also advised to consult Unit Adjutant / SAO.
|A.HBL for self-construction of a house or for purchase of residential plot or for purchase of house/flat from a pvt builder or for purchase of an existing house or for repayment of house loan taken from bank/financial institution or for renovation /extension of an existing house/flat||5 Years||5 Years||5 Years|
|B.HBL for acquiring residential plot/ flat/house/from AFNHB /AWHO/IRWO or other housing boards or for purchase of residential plot from Central/State govt/ other civil authorities like DDA/BDA/JDA||6 Months||2 Years||2 Years|
|Purpose of HBL||Max Amount||Remarks|
|Officers (PC/SSC) Airmen/ NCs (E)||For purchase/construction of house/flat||Rs 60 lacs||Amount of HBL sanctionable is subject to the repaying capacity of the applicant|
|For extension/renovation of house/flat||Rs 30 Lacs|
|For Purchase of plot||Rs 40 Lacs|
|Category||Upto 7 Lacs||Above 60 Lacs|
|Officers/Airmen||9 % pa|
|NCs(E)||8 % pa||9 % pa|
Note: 2nd & subsequent HBL and HBL for renovation/extension of house/flat etc : 9.25 %pa
The quantum of HBL admissible to the applicant would depend on his/her repaying capacity which is determined by ascertaining that the total deductions (including the anticipated EMI towards the HBL that is now being applied for) in the applicant’s IRLA does not exceed 80% of the gross emoluments reflected in the latest monthly pay slip.
Processing fees @ 0.15% of the HBL sanctioned amount (rounded off to the nearest 10) subject to a min of 500/- and max of 5000/- would be recovered from the remittance of the 1st installment of the HBL.
|Term(Years)||Amt of Contribution (1 Lac of HBL )|
Note 1 : One time non-refundable contribution will be calculated for amount in multiples of lacs and the tenure (no of years) of the loan. Fraction of a year will be counted as one full year.
If an individual has been sanctioned a loan of Rs. 5.93 Lac in 125 installments (i.e. 10 years 5 months), non refundable contribution will be charged for Rs. 6 Lac in 132 installments (i.e. 11 years)
HBL sanctioned : Rs. 6 lacs
Tenure of Repayment : 125 EMIs
Amount on which premium is calculated : Rs. 6 lacs
Tenure of Repayment : 11 years ( 10 years 5 months)
|Officers||Rs. 12480/-||(6,00,000/1,00,000) X 2080*|
|Airmen/NCs(E)||Rs. 9948/-||(6,00,000/1,00,000) X1658**|
The repayment period for different categories is appended below :
15% pa penal rate of interest is chargeable for non-submission of documents and non-compliance of stipulated policy & rules.
Second and subsequent/additional HBL may be sanctioned to those members who have liquidated the HBL taken earlier in full and have the repaying capacity and meet all other eligibility and other terms and conditions.