Apun Bahan Scheme Assam 2023:  Government Offers Interest Subsidies for Employee Vehicle Loans

The Assam government has given the green light to the ‘Apun Bahan’ scheme, which aims to provide interest discounts on auto loans. 

This scheme aims to make it easier for eligible government employees to buy vehicles. Under ‘Apun Bahan,’ the state government will provide interest subsidies on motor vehicle loans obtained from scheduled commercial banks, regional rural banks, and the Assam Cooperative Apex Bank, recognized by the Reserve Bank of India. This means that government employees can now access vehicle loans with reduced interest rates, making it more affordable for them to buy a vehicle.

Highlights of Assam’s Apun Bahan Scheme

  • Scheme Name: Apun Bahan Scheme Assam
  • Introduced by: Assam Government
  • Purpose: To offer interest discounts on auto loans
  • Location: Assam
  • Official Website: Not specified

Apun Bahan Scheme Objectives

  • Assisting Government Employees: The Assam government’s “Apun Bahan” program aims to support state government employees.
  • Interest Subsidy: Through this initiative, eligible government personnel can obtain a motor vehicle loan with a 2% interest subsidy.
  • Special Benefit: Women and Divyangjan employees get a higher interest subsidy of 3%.
  • Allocated Funds: The government has set aside 12 crore rupees for implementing this scheme.

Features of Apun Bahan Scheme Assam

  • Interest Subsidies: Male employees purchasing diesel or petrol vehicles receive a 2% interest subsidy, while it goes up to 3% for electric vehicles. Female employees and those with disabilities get a 3% interest subsidy for any car purchase.
  • Maximum Loan Amount: Eligible employees can secure a loan of up to 15 lakh rupees or 48 times their net monthly income, whichever is lower.
  • ‘Apun Ghar’ Scheme: The Assam Government introduced the “Apun Ghar” scheme, benefiting 36,159 employees with a combined loan portfolio of 4,984 crore rupees.
  • Funds Allocation: A total of 108 crore rupees have been earmarked for government employees to access loans for homes and vehicles.
Video Credit : AssamGovJob

Eligibility Requirements for the Scheme

  • Government Employee Status: To qualify for the program, individuals must be regular employees of the State Government.
  • Age Range: Eligible employees should be between 21 and 53 years old.
  • Service Period Alignment: This requirement ensures that the employees’ service period aligns with the maximum loan term of 7 years.

How to Apply for Apun Bahan Scheme in Assam

Eligible applicants can complete the application form for the scheme through the official website. However, the government has not yet provided information about the official website. When the website link becomes available, you will be able to apply for the scheme online.