Scheme of 1% on Housing Loans up to 10 Lac

Thursday, November 10, 2011 | comments

Reserve Bank of India has extended time limit of the scheme mentioned in subject upto 31-March-2012.  The Guidelines for the same has been issued in November,2011.  1% Interest scheme is implemented on the loan sanctioned between 1-10-2009 to 31.03.2011,   The complete detail regarding this scheme is given as under :-


RBI/2011-12/255
RPCD.MSME & NFS. BC.No. 29/06.11.01/2011-2012                                       November 4, 2011
The Chairman / Managing Director
All Scheduled Commercial Banks (excluding RRBs)
Madam/ Dear Sir,

Scheme of 1% interest subvention on housing loans upto Rs. 10 lakh – Guidelines

Please refer to our circular RPCD.SME & NFS. BC. No. 62/06.11.01/2010-11 dated April 21, 2011 on the captioned subject. In this connection, it is now clarified as under:
a)   The Scheme is extended up to March 31, 2012.
b)   Loans sanctioned and disbursed between October 01, 2009 and March 31, 2011 are outside the ambit of the new liberalised Scheme and they will be treated as per old instructions (ie. loans up to Rs.10.00 lakh with project cost up to Rs.20.00 lakh)
Banks may continue to claim reimbursement, at present, as per the original Scheme. For claims in respect of the new Scheme, revised instructions would follow.

2. All other terms and conditions of the interest subvention Scheme remain the same.

3. Please acknowledge receipt.

Yours faithfully,


(C.D.Srinivasan)
Chief General Manager


Circular RPCD.SME & NFS. BC. No. 62/06.11.01/2010-11 dated April 21, 2011

RBI/2010-11/481
RPCD.SME & NFS. BC. No. 62/06.11.01/2010-11                                    April 21, 2011

The Chairman/Managing Director/
Chief Executive Officer
All Scheduled Commercial Banks
(excluding Regional Rural Banks)

Dear Sir

Scheme of 1% interest subvention on housing loans upto Rs. 10 lakh - Guidelines


2. In para 43 of the Union Budget Speech of 2011-12, it has been proposed to liberalise the existing scheme of interest subvention of 1 per cent on housing loans by extending it to housing loan upto Rs.15 lakh where the cost of the house does not exceed Rs.25 lakh from the present limit of Rs.10 lakh and Rs.20 lakh respectively.

3. You are therefore advised to issue necessary instructions to your Controlling Offices and Branch Offices to ensure that these guidelines are implemented immediately. The other terms and conditions of the housing subvention scheme remain unchanged.

4Please acknowledge the receipt.

Yours faithfully

(C.D.Srinivasan)
Chief General Manager
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