S.No.

Loan

Agencies

Max Amount
(Rs)

Eligibility

Obtain  Application From

Rate of Interest

House
Building
Advance
(HBA)

AG’s
Branch

Serving Army
Pers.

Room No. 414,
Sena Bhawan,
Rajaji Marg,
New Delhi-110011
Ph- 35062 (ASCON)
011-23792551

a) 7.5% p.a. for amount sanctioned upto Rs50,000/-
b) 9.0% p.a. for amount sanctioned upto Rs1,50,000/-
c) 11.0% p.a. for amount sanctioned upto Rs2,10,000/-

2.5% rebate in the interest  for the following @ .5% for each condition:-
* Making regular payment of HBA.
* Mortgaging flat in favour of President of India within 90 days of taking possession.
* Insurance of  house against risk of fire, flood and lightening.
* Maintaining the house in good repair and pay all the taxes etc.
* Seeking prior permission in case of further mortgage.
A further rebate of 0.5% for adopting small family norms.

S.No.

Loan

Agencies

Max Amount
(Rs)

Eligibility

Obtain  Application From

Rate of Interest

House Building
Advance (HBA)

All Service Offs/ JCO & OK
(Re-empOffrs, JCOs/OR and ShortService
Offrs are
NOT eligible)*

AGI Bhawan,
Rao Tula Ram Marg
New Delhi
Ph – 26142749 & 26151031

9%

* Short Service Commissioned Officers including Women Service Entry Scheme Officers can apply after getting first extension for next 10 years.

*  Max Repayment Period 240 months acutal period upto 6 month prior to date of retirement.
* Processing Fee 0.25%, min of Rs. 250/- and  upto a max of Rs. 1,000/-.
* Administrative Fee  0.5 %, subject to min of Rs. 250/- and upto a max
of Rs. 1,250/-.
* Monthly reducing balance.
*   Max loan admissible excluding the HBA given by Army HQ (AG’s Branch) will not exceed Rs. 25 Lacs or 50 times the Basic Pay whichever is less.
*  Loan amount will be restricted to the repaying capacity of the individual in the present rank.
*  1% as Compulsory Insurance Cover for the loan amount sanctioned.

S.No.

Loan

Agencies

Max Amount
(Rs)

Eligibility

Obtain  Application From

Rate of Interest
(Confirm from agency for changes if any)

1. Upto 85% of the cost of DU.

2. 50% of Income as EMI

State Bank of India, 40-41, Sansad Marg, Delhi-110001 Phone: 011-23864850, 23864687, 66166087/80

Floating : 1st yr 8%
2nd & 3rd yr 9%
4th yr onwards 9.25%
Fixed : 10.25%

Special offer for AWHO Allottees

Upto 85% of the cost of DU.

HDFC Ltd, The Capital Court, Munirka, Outer Ring Road, Olaf Palme Marg, New Delhi-110067
Phone: 011-41115111

Floating : 8.25% fixed upto 31st Mar 2011 and From 1st Apr 2011 onwards 8.75%

1. Upto 85% of the cost of DU.
2. 55 % of Income as EMI

551-552,5th Floor
Aggarwal Millenium towers
Netaji Subhash place
Pitampura Delhi
Mob-9811845988

Floating : 8.25% fixed upto 31st Mar 2011 and From 1st Apr 2011 to 31 Mar 2012 - 9.00% Thereafter - 9.25%

1. Upto 85% of the cost of DU.
2. 55 % of Income as EMI

Vijaya Bank, Gopinath Bazar, Delhi Cantt Phone-011-25691835, 25699523, 25693621 & 9818976777

Floating : 1st to 5th yr 9.25%
6th to 10th yr 9.5%
11th to 15th yr 9.75%
and 16th to 20th yr 10%
Fixed : 1st to 5th yr 10.75%

KINDLY CONTACT LOANING AGENCY FOR THE LATEST INFO

POINTS TO NOTE:-

1.   Check the EMI for the loan tenure along with the interest.
2.   Prepayment of loan should be allowed without inviting any penalty.
3.   Penalty for late payment & incentive for timely payment should be known.
4.   Processing Fees & Administrative Fees/Service Charges should be known.
5.   Necessary NOC (No Objection Certificate) and Non-Encumberance Certificate can be obtained from AWHO on specific request by allottee along with provisional Interim sanction. Sanction letter from the loaning agency stating the loan amount and tenure.
6.  Tripartite Agreement for HBA from AG PS-3(c) and AGIF is signed by AWHO as per their Draft Agreement.  For other Housing Finance Agencies, Tripartite Agreement / Undertaking  approved by AWHO is signed.

INCOME TAX REBATE (SELF OCCUPIED PROPERTY):-

1.   Whatever loan you repay, it has two components : Principal and Interest.
2.   Interest Component is to be deducted fully (100%) from the Taxable Income up to a maximum limit of Rs 1,50,000/-.
3.   Principal Component (Up to Rs. 1,00,000/- Only) to be claimed for rebate under Section 88.

(a) Pay Slip/Proof of Income.
(b) Bank Statement for six months where salary is credited.
(c) Income Tax Return/Form 16.
(d) PAN Card.
(e) Identity Proof.
(f) Residence Proof.

And obtain a provisional/Interim sanction letter from the loaning agency stating the loan amount and tenure.