Documents Required (124 KB)
|| - Officers : After confirmation of commission.
- Airmen/ NCs(E) : After complition of 2 years of service.
||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
||Home Installations Covered
Solar Heating Energy System
Rain Water Harvesting System
False Ceiling (wooden/plaster of paris etc)
Security and Safety Systems (like cctv/fire alarm/ iron grills etc)
||Rate of Interest
||Repayment of Loan
||60 EMIs (max)
||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.
EMI CHART @ 9%
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)