Having one’s own house is a very big dream for everyone. But nowadays the cost of everything is very high, so it becomes difficult to fulfil the dream of owning a house. But now the State government of Tamil Nadu is going to support every individual of the state to convert this dream into reality. For this purpose, the state Government of Tamil Nadu started the Housing Loan facilities with the help of District Central Cooperative Banks all over the state. The name of this scheme is Tamil Nadu DCCB Housing Loan Scheme. In this blog, I am going to share the information about the eligibility, benefits covered in the scheme and the application process.
Tamil Nadu DCCB Housing Loan Scheme
In this scheme, it does not matter whether you are going to build a new house, or want to enhance the same house up to two to three floors, or want to repair your house; then this scheme is going to provide every help through the facilities of the Loan. The main motive of this scheme is to provide help in every plan of the customer.
| Scheme Type | Loan Scheme |
| Type of Loan | Housing Loan |
| Authority Concerned | DCCBs, i.e. District Central Cooperative Banks |
| Beneficiaries | All citizens of the scheme |
| Name of scheme | Tamil Nadu DCCB Housing Loan |
| Maximum Loan amount | Rs. 10,00,000 |
Motive of TN DCCB Housing Loan Scheme
It is very difficult to get a loan from any of the banks. But DCCB Bank wants to make it easy for everyone to have a housing loan in a very simple way. The bank now gives very light documentation for the applicant, and the loan process has become very easy. In this scheme, the loan is given for a maximum amount of Rs. 10,00,000/-.
Features of the scheme
- Loan Amount: For any kind of construction of a house or purchase of Housing Land, the maximum loan amount is Rs. 10,00,000, which may be extended later.
- Loan Interest Rate: The annual interest rate must be 12% over the sanctioned amount of the Housing Loan.
- Loan Repayment: For the construction of House loan will be payout within 20 years, but in case of renovation and repair, you have to pay within 5 Years.
Loan Coverage Details
I already told you that no matter what kind of housing purpose you are going to get the loan. Because from constructions to, enhancement or for repair, this scheme provides every benefit to you. Check the details.
- Buy Housing Land: Through the help of this scheme, you can buy residential land for yourself.
- For New House Construction: any citizen who has a dream to build or construct a new house, then you can apply through this scheme.
- For Renovation: So, if by chance any of the houses this time fall under repair, then you can also go with the scheme. For any kind of general repair of the existing house which make home safe, then this scheme also covers the same.
- Extension of House: You can also get the loan facilities from this scheme for the extension of the house.
DCCB Housing Loan Amount and Interest Rate
In this scheme, every individual will get the loan amount, which is a maximum of Rs 10,00,000/-. And the interest rate which applies to the loan is about 12% per annum. From time to time, the loan interest is also revised by the bank.
| Maximum Loan amount | Rs. 10,00,000 |
| Interest Rate | 12% per year |
Eligibility Criteria
- Residency: Only those individuals who are permanent residents of the Tamil Nadu state.
- There is no age limit applicable to the scheme.
- The loan facilities under this scheme are only given for the housing-related purpose, like New constructions, renovation and extension of the existing house.
- The sanction amount is only used for the loan.
It means any individual who wants to have their dream house in the state of Tamil Nadu can apply for the scheme.
Important Documents Required
- Applicant ID Card: Kindly submit an Aadhaar Card or a Voter Card on which the photo of the applicant appears and was issued by the government.
- Address Proof: For address proof, you can submit your Ration card or a Bonafide certificate of the Tamil Nadu state.
- Property Documents: Need to submit the ownership documents of the property over which you are going to construct the new house.
- Additional details: Submit your Bank details, signature, photo, mobile number, and all the documents that are required by the bank.
How to Avail the Benefits of a Loan from the Tamil Nadu DCCB Housing Loan Scheme?
- Visit Bank and Collect Form: First of all have to visit the DCCB Bank Branch which is near you and then get the application Form.
- Fill Form and attached Document: Fill all the columns of the application form, and then attach your documents, which are self-attested.
- Submit Form in Branch: Now, in the same Branch office, you can submit the documents.
- Get receipt: Have to collect your receipt of the form and then keep in touch with the branch for loan facilities.
Related: Kuruvai Special Package Scheme
FAQs
Yes, the loan can be enhanced as per the norms of the Bank.
Yes, the loan can be given to the individual having an age from 18 years to the maximum age limit is not mentioned.
Every individual in the Tamil Nadu state can get a loan.
The maximum loan amount must be Rs 10,00,000, which later can be enhanced.