Relief for small-home buyers: Govt to give 1% interest subsidy on loans
NEW DELHI: It may be a case of too little too late. The government is moving to provide some relief to small home loan borrowers by providing a 1% interest subsidy for loans upto Rs 15 lakh, provided the cost of the property does not exceed Rs 25 lakh. The proposal, which is expected to be approved by the Union Cabinet on Tuesday, is aimed at providing some cheer to households saddled with high inflation and rising EMIs (equated monthly installments). The move, announced in the budget, is being operationalised now to give a message that the government is trying to address concerns of households ahead of Diwali when low sentiments are affecting spending. The scheme is an improvement of the existing facility where the benefit of interest subsidy is available to loans upto Rs 10 lakh, provided the cost of the property is Rs 20 lakh. Read all post…
Tags: Interest Subsidy, Loans