KSB Unveils Interest Subsidy Scheme to Support Armed Forces Members
The Kendriya Sainik Board (KSB), operating under the Department of Ex-servicemen Welfare in the Ministry of Defence, has rolled out a new initiative aimed at providing modest financial relief to members of the armed forces and their families. This scheme, known as the Financial Assistance as Interest Subsidy on Home Loan, is designed to assist war-bereaved families, war-disabled personnel, and attributable peacetime casualties across all ranks.
Eligibility and Benefits of the Scheme
Under this program, eligible beneficiaries can receive reimbursement of 50% of the interest paid on a home loan. The subsidy is capped at a maximum of Rs 1 lakh and is applicable for a period of up to five years. It is open to war widows, members of war-bereaved families, war-disabled personnel, or those affected by attributable peacetime casualties, regardless of rank.
To qualify, applicants must have secured a home loan from a recognized financial institution, such as a bank, government or public sector undertaking, LIC, GIC, or HUDCO. Importantly, the subsidy calculation is based on a maximum loan amount of Rs 1,00,000, irrespective of the total loan amount availed by the applicant.
Step-by-Step Application Process
Applying for this scheme involves a straightforward online procedure. Follow these steps to submit your application:
- Visit the official portal and select the Register option.
- Enter your personal details, including name, Aadhaar number, email ID, mobile number, and bank information.
- Set a secure password to complete the registration process.
- Upon successful registration, securely store the issued User ID and password for future access.
- Sign in to the portal using your login credentials.
- Open the New Application section and choose the relevant scheme from the list.
- Carefully fill out the complete application form with accurate information.
- Upload all mandatory documents, such as a photograph, caste certificate, residence proof, and bank passbook.
- Click Save & Forward, then download and print the completed application form.
- Submit the printed form along with the required documents to the District Sainik Board for further processing.
This initiative underscores the government's commitment to supporting the welfare of armed forces personnel and their families, providing crucial financial aid during challenging times.
