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- 23375062

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 & 26148944

7%

* Short service officers including Lady officers are eligible to apply after they get an extension.

*  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. 15 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

1. Upto 85% of the cost of DU.

2. 50% of Income as EMI

SBI, Chandni Chowk, Delhi
Phone:-011-23864687

10.75 % - 11.25% Floating.
Confirm from Agency. (12.75% maximum upto 10 years on fixed rate.)

Upto 85% of the cost of DU.

HDFC Ltd, The Capital Court, Munirka, Outer Ring Road, Olaf Plame Marg, New Delhi-110067
Phone: 011-51115111

11.5 % Floating.
Confirm from Agency. (13.25% on fixed rate.)

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

506, Fifth Floor
Ashoka Estate Building Barakhamba Road, CP, New Delhi-110001
Phone: 9811302008, 51515530

12% Floating.
Confirm from Agency. (14.5% maximum upto 20 years on fixed rate.)

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 & 9891122829

9.25 % upto 5 years , 9.75% upto 10 years and 10% upto 15 years Floating on 10 lacs loan.
Confirm from Agency. (9.5% maximum upto 5 years and 10% upto 10 years on fixed rate.)

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.