Rural Housing Interest Subsidy Scheme 2022 @rural.nic.in
Summary: The Government of India has launched Rural Housing Interest Subsidy Scheme 2022 in order to provide houses to those citizens who are not covered under Pradhan Mantri Awas Yojana. This Rural Housing Interest Subsidy Scheme (RHISS) will provide necessary resources to the families which are not covered under PMAY-G. Accordingly, PMAY-G Home Loan Interest Subsidy Scheme will provide easy and cheap access for institutional loans at the subsidized interest rates for the construction or modification of their houses.
All Applicants who are willing to apply online application then download the official notification and read all eligibility criteria and application process carefully. We will provide short information about “Rural Housing Interest Subsidy Scheme 2022” like Scheme Benefit, Eligibility Criteria, Key Features of Scheme, Application Status, Application process and more.
Rural Housing Interest Subsidy Scheme 2022 – Overview
Short Info: [Apply Online] Rural Housing Interest Subsidy Scheme (RHISS) 2022 – Online Registration, Application Form PDF Download, Eligibility, Beneficiary List, Payment/ Amount Status, Features, Benefits and Check Online Application Status at Official Website rural.nic.in. RURAL HOUSING INTEREST SUBSIDY SCHEME ऑनलाइन आवेदन, रजिस्ट्रेशन, उद्देश्य, पात्रता, लाभ.
Table of Contents
|Name of Scheme||Rural Housing Interest Subsidy Scheme (RHISS)|
|launched by||Government Of India|
|Beneficiaries||Citizens Of India|
|Scheme Objective||To Provide Pucca House|
|Scheme under||Central Government|
|Name of State||All India|
|PostCategory||Scheme/ Yojana/ Yojna|
Rural Housing Interest Subsidy Scheme 2022: Online Application Form
Rural Housing Interest Subsidy Scheme 2022: Online Application Form PDF Download – Ministry of Rural Departments, Central Government. Rural Housing Interest Subsidy Scheme (RHISS) has been launched. Subsequently, this Rural Housing Interest Subsidy Scheme (RHISS) will provide necessary resources to the families who are not covered under PMAY-G. The interest subsidy will be at the rate of 3% on principal amount of the loan for beneficiary. Subsidy shall be admissible for a maximum loan amount of first Rs. 2 lakh, irrespective of quantum of housing loan, for 20 years or full period of loan, whichever is less. If the quantum of housing loan, however, is less than Rs. 2 lakh, the subsidy will be calculated on actual loan amount. The PMAY Gramin scheme provides financial assistance to households living in rural areas who are houseless or living in zero, one or two room kutcha houses as per Socio Economic Caste Census (SECC) 2011 data and verified by Gram Sabha.
Implementation Methodology of Rural Housing Interest Subsidy Scheme
- The interest subsidy will be available only for housing loan amounts indicated above and additional amount of housing loan beyond the above specified limit, if any, will be at non-subsidized rate.
- Net present value of the interest subsidy will be credited upfront to the housing loan account of beneficiaries through PLIs resulting in reduced effective housing loan and Equated Monthly Installment (EMI).
- National Housing Bank (NHB) has been identified as Central Nodal Agency (CNA) to channelize this subsidy to lending institutions and for monitoring the progress. Ministry may notify other institutions as CNA in future.
- Primary Lending Institutions (PLIs) identified as Scheduled Commercial Banks, Housing Finance Companies, Regional Rural Banks, NBFC MFIs, or any other institution may be identified by the Ministry, can register only with one CNA by signing MoU as per Annexure 2 of RHISS guidelines (download Guidelines through the link at the bottom of the article).
- CNA will be responsible for ensuring proper implementation and monitoring of the scheme and will put in place appropriate mechanisms for the purpose. CMA will provide periodic monitoring inputs of MoRD through regular quarterly and monthly reports or as required by the Ministry.
Mechanism For Release Of Central Subsidy
- The government is going to release an advance for subsidy payment to CNA at the start of the Rural Housing Interest Subsidy Scheme 2022
- The subsequent amount will be released to the CNA of the interest subsidy after 70% utilization of the earlier amount on a quarterly basis
- Based on the disbursement of the loan to the beneficiaries the central nodal agency will release the Subsidy amount directly
- The net present value of the interest subsidy will be credited by the PLI to the beneficiary’s account by deducting it from the principal loan amount of the beneficiary
- Beneficiaries are required to pay EMI as per lending rates on the remainder of the principal loan amount
- 0.25% of the total fund disbursement by the central nodal agency to the PLI will be paid to the central nodal agency for their administrative expenses
- PLI cannot take any processing charge from the beneficiary under the scheme
- The PLI will be provided a lump sum amount of Rs 2000 per sanction application in lieu of the processing fees for the housing loan for the borrower
Monitoring And Implementation Of The Scheme
- This scheme will be implemented and monitored by the Ministry of Rural Development, Government of India through the Central nodal agency
- At the state level the State Government, and State level bankers committee will monitor this scheme through its prevalent institutional mechanism
- If the beneficiary submits false information in order to get the benefit from this scheme then he or she would be liable for legal proceedings under the relevant law
- Under the scheme, the decision of the Ministry of Rural Development will be considered final
Coverage of Beneficiary / Rural Housing Interest Subsidy Scheme (RHISS)
- Beneficiary – All those rural families whose names are not in the permanent waiting list of Pradhan Mantri Awas Yojana – Gramin, are eligible to apply.
- Exclusion The RHISS will cover all citizens of the country but exclude those who belong to the statutory towns of the Census 2011 and the towns covered under PMAY-Urban.
- RHISS will provide support for modification of existing dwelling units and construction of pucca houses as per eligibility criteria defined here with basic civic infrastructure like water, sanitation, electricity etc.
Subsidy Under Rural Housing Interest Subsidy Scheme
|Interest Subsidy (% pa)||3.00%|
|Maximum Housing Loan Tenure (in years)||twenty|
|Eligible Housing Loan Amount for Interest Subsidy (Rs)||2,00,000|
|Discount Rate for NPV calculation of interest subsidy (%)||9.00%|
Primary Lending Institutions (PLIs) for RHISS Scheme
Central Nodal Agency (CNA), identified by the Ministry for the purpose of implementation of the Interest Subsidy Scheme for Rural Housing, would successfully implement this scheme. CNA will provide subsidy to the Primary Lending Institutions (PLIs) and will also monitor the progress. Accordingly, some of the PLIs are as follows:-
- Scheduled Commercial banks
- Housing Finance Companies
- Urban Co-operative banks
- State Co-operative banks
- Regional Rural banks (RRB)
- Small finance banks
- NBFC-Micro Finance Institutions
- Other Institution identified by CNA
- Any other Institutions as identified by Central Nodal Agency and approved by Ministry of Rural Development
CNA will provide reports to the Ministry of Rural Development on monthly or quarterly. All the beneficiaries who are taking the benefits of other govt. schemes cannot apply under this scheme.
Required Document for Rural Housing Interest Subsidy Scheme
Important Document to Apply Online:
- Aadhar Card
- residence certificate
- Income certificate
- Passport size photograph
- Mobile number
Rural Housing Interest Subsidy Scheme Eligibility Criteria
Beneficiary Eligibility Guidelines:
- Applicant must be a permanent resident of India
- The applicant must be living in the rural area
- Applicant must not own a pucca house
- The applicant must not be covered under Pradhanmantri Awas Yojana
Objectives of Rural Housing Interest Subsidy Scheme 2022
The objective of govt. is to provide housing for all by 2022, it is pertinent to ensure that adequate resources are made available to such households who are not covered under PMAY-G.
Benefits And Features Of Rural Housing Interest Subsidy Scheme
- To ensure housing for all by 2022, the central government launched Pradhan Mantri Awas Yojana Gramin (PMAY-G) which came into effect from 1st April 2016.
- Only houses in rural areas will be covered under this scheme.
- Under this scheme, easy access to institutional loans will be provided to all such needy households for the construction or modification of their houses.
- RHISS envisages providing loans to rural households at a subsidized interest rate to enable them to construct/modify dwelling units.
- The Government is going to provide an interest subsidy on the amount of loan taken under this scheme.
Rural Housing Interest Subsidy Scheme Online Registration Process
Rural Housing Department, Ministry of Central Government has launched Rural Housing Interest Subsidy Scheme (RHISS). RHISS will provide this loan to construct a new house or to modify a Kuccha house into a Pucca House.
All Eligible Applicants who want to apply to this scheme then read all instructions carefully and follow the given below steps to apply online application form:
Procedure to Apply Online Rural Housing Interest Subsidy Scheme Application Form 2022
Step 1- Visit the Official Website of Rural Housing Interest Subsidy Scheme ie rural.nic.in.
Step 2- On the Homepage, Click on the Option “Apply Online” button.
Step 3- The application Form page will be displayed on the screen.
Step 4- Now enter the required details and upload documents.
Step 5- Click on Submit Button for the final submission of the application.
This procedure you can apply under Rural Housing Interest Subsidy Scheme 2022