Home Loan Interest Subsidy Scheme- Gujarat Labour Welfare Board
Workers employed in Gujarat's organized sector can get a 3% interest subsidy on home loans, reducing the cost of buying their own house. The subsidy applies to loans of up to ₹15 lakhs taken from nationalized banks, scheduled banks, or NBFCs for homes priced up to ₹30 lakhs. Apply online through the Sanman Portal at sanman.gujarat.gov.in within one year of purchasing the property.
About This Scheme
Workers employed in Gujarat's organized sector can get a 3% interest subsidy on home loans, reducing the cost of buying their own house. The subsidy applies to loans of up to ₹15 lakhs taken from nationalized banks, scheduled banks, or NBFCs for homes priced up to ₹30 lakhs. Apply online through the Sanman Portal at sanman.gujarat.gov.in within one year of purchasing the property.
Full official description
The “Home Loan Interest Subsidy Scheme” was launched by the Gujarat Labour Welfare Board, Labour, Skill Development & Employment Department, Government of Gujarat. Under the scheme, a 3% Interest Subsidy is provided to workers who are employed in the organized sector to buy their own house and get relief from interest deductions on loans taken from banks.
Benefits
- 3% interest subsidy on your home loan
- Subsidy covers loans up to ₹15 lakhs (or the actual loan amount, whichever is lower)
- Subsidy amount credited directly to your bank account via Direct Benefit Transfer (DBT)
Who Can Apply (Eligibility)
- Must be working in the organized sector (factory/company/organization) in Gujarat
- Must have completed at least 1 year of continuous employment with the same employer
- Labour Welfare Fund must be deposited with the Gujarat Labour Welfare Board
- Home purchase price must not exceed ₹30 lakhs
- Home loan tenure must be 15 years or more
- Loan must be from a nationalized bank, scheduled bank, or NBFC
- Application must be submitted within 1 year of the property purchase date
How to Apply
Application Process for Scheme Benefit:
Step 01: The applicant may visit the Sanman Portal: https://sanman.gujarat.gov.in/ Step 02: On the home page, under the tab ‘Citizen Login’, click on ‘Please Register Here’. Step 03: Enter your Aadhaar Card Number, select user type, and then enter your Labour Welfare Fund Account Number. Step 04: Now, click on ‘Fetch’ & verify the details. Step 05: Enter user details and Password. Step 06: After successful registration, the applicants can login through their User ID and Password. Step 07: Now, select the scheme and read the instructions carefully for the selected scheme. Step 08: Fill out the application form and upload all the relevant documents. Step 09: Agree with the Rules & Regulations and submit the application form. A confirmation email with the application Number will be sent on the registered email ID.
Frequently Asked Questions
Who launched the "Home Loan Interest Subsidy Scheme"?
The scheme was launched by the Gujarat Labour Welfare Board, under the Labour, Skill Development & Employment Department, Government of Gujarat.
What is the percentage of Interest Subsidy provided under the scheme?
The scheme offers a 3% Interest Subsidy to eligible workers.
What are the maximum loan limitations under the scheme?
A worker can avail a maximum loan of [?]15 lakhs or the interest subsidy of 3%, whichever is less, considering the actual bank interest on the loan taken.
How is the assistance amount disbursed to beneficiaries?
The assistance amount is credited directly to the beneficiary's bank account through Direct Benefit Transfer (DBT).
Who is eligible to benefit from the scheme?
Workers employed in the organized sector in Gujarat are eligible for the scheme.
What are the criteria for continuous employment under the scheme?
Workers must have been continuously employed with the Factory/Company/Organization for at least one year.
What is the maximum purchase price of a house eligible under the scheme?
The purchase price of the house should not exceed [?]30 lakhs to be eligible for the scheme.
What is the minimum tenure for a home loan under the scheme?
The loan tenure should be 15 years or more.
From which financial institutions can a home loan be availed under the scheme?
Home loans should be obtained from Nationalized/Scheduled Bank/NBFC only.
Is there a deadline for applying for the scheme?
Yes, applications must be submitted within one year from the date of the purchase document.
How can one apply for the benefits of the Scheme?
Applicants can visit the Sanman Portal at https://sanman.gujarat.gov.in/ to apply for the scheme benefits.
Can workers from any sector apply for the scheme?
No, only workers employed in the organized sector in Gujarat are eligible for the scheme benefits.
Ready to apply?
Visit the official government portal to apply for this scheme.
Apply on myScheme.gov.inDocuments Required
- Passport-size Photograph
- A copy of the identity card issued by the contractor to the worker/labour
- Aadhaar Card of Labour
- Labour Welfare Fund Account Number
- Proof of taking a loan (loan sanction letter)
- Annual Loan Statement/Annual Interest Certificate
- [Self-declaration](https://sanman.gujarat.gov.in/ApplicationDocuments/GLWB/swaghosana.pdf) 1. [Bonafide certificate](https://sanman.gujarat.gov.in/ApplicationDocuments/GLWB/Bonafide.pdf) 1. Bank account details/Bank Passbook
- Any other documents as required