The Assam Government has introduced the Apun Bahan Scheme to provide financial assistance to permanent state government employees for purchasing motor vehicles. This article covers all the details about the scheme, including the application process, eligibility criteria, and loan amounts.
Assam Apun Bahan Scheme 2024
Chief Minister Himanta Biswa Sarma launched the Apun Bahan Scheme to ease access to motor vehicle loans for permanent state government employees. Under this scheme, the government will provide interest subvention on car loans from scheduled commercial banks, regional rural banks, and Assam cooperative banks recognized by the Reserve Bank of India.
Objectives & Benefits of the Assam Apun Bahan Scheme
- Objective: Provide financial help to permanent state government employees for purchasing motor vehicles.
- Interest Subvention: Male employees receive a 2% interest subsidy for diesel/petrol cars and 3% for electric vehicles. Female and differently-abled employees receive a 3% interest subsidy for any type of vehicle.
- Loan Amount: A maximum loan of Rs. 15 lakh or 48 times the monthly salary, whichever is lower.
- Vehicle Purchase: Supports the purchase of two-wheelers and four-wheelers, excluding three-wheelers.
Key Highlights
- Scheme Name: Apun Bahan Scheme
- State: Assam
- Launched By: Himanta Biswa Sarma
- Category: Important Schemes
- Beneficiary: Government Employees
- Benefit: Interest-free Vehicle Loan
- Application Mode: Offline
Loan Under the Apun Bahan Scheme
- Loan Type: Term loans for two-wheelers and four-wheelers.
- Maximum Loan Amount: 48 times the net monthly income or Rs. 15 lakh, whichever is lower.
- Finance Coverage: Banks will finance 80-90% of the on-road price of the vehicle.
- Interest Credit: Interest will be credited to the salary accounts of the employees.
Guidelines of Assam Apun Bahan Scheme 2024
- Repayment Tenure: Minimum 3 years and maximum 7 years.
- Equated Monthly Instalments: Repayment will be based on EMI.
- Vehicle Registration: Must be registered in the employee’s name and not used for commercial purposes.
- Single Vehicle: The scheme is designed for only one vehicle per employee.
- Self Declaration: Employees must declare that no other vehicle under the same scheme has been purchased.
- Documentation: A copy of the vehicle registration should be submitted to the bank branch.
Assam Apun Bahan Scheme Eligibility Criteria
- Employment: Applicant must be a permanent state employee.
- Income: Net annual income must be at least Rs. 3 lakh.
- Age: Applicant’s age must be between 21 and 53 years.
- Vehicle Type: Only two-wheeler and four-wheeler purchase loans are eligible. Three-wheeler loans are not eligible.
- Loan Tenure: Maximum tenure of 7 years.
Required Documents for Apun Bahan Scheme
- Aadhaar Card
- PAN Card
- Domicile Certificate
- Self Declaration
- Vehicle Registration
- Vehicle Insurance
- Mobile Number
- Bank Passbook
- Bank Account Statement
- Passport Size Photo
- Signature
Apun Bahan Scheme Application Form
- Obtain Form: The application form can be obtained from the respective banks.
- Fill Personal Details: Include name, department, and bank account statement.
- Address Details: Provide complete address details.
- Submit Form: Submit the application form through the DDOs with a complete set of documents as per the checklist given in the application form.
- Scrutiny and Sanction: The concerned bank will scrutinize the application, and the bank team will accord final sanction based on the proposal.
By following these steps, eligible government employees in Assam can apply for the Apun Bahan Scheme and benefit from the financial assistance provided to purchase motor vehicles. This initiative aims to support government employees in fulfilling their dreams of owning a vehicle while easing the financial burden associated with vehicle loans.
