GUWAHATI: The Assam government in yesterday’s cabinet meeting has approved the 'Apun Bahan' scheme. The scheme is set to offer interest subsidies on motor vehicle loans, making it easier for eligible employees to purchase vehicles.
Under the 'Apun Bahan' scheme, the State Government will provide interest subvention on motor vehicle loans acquired from scheduled commercial banks, regional rural banks, and the Assam Cooperative Apex Bank, which are recognised by the Reserve Bank of India.
Male employees will benefit from a 2 per cent interest subsidy if they purchase diesel or petrol vehicles. For electric vehicles, the subsidy increases to 3 per cent. Female employees and differently-abled employees will enjoy a 3 per cent interest subsidy for purchasing any type of vehicle.
The scheme will be available to regular State Government employees aged between 21 and 53 years. This ensures that the maximum loan tenure of 7 years falls within the service period of the employees.
Employees can avail of a loan amount of up to 48 times their net monthly income or a maximum of ₹15 lakh, whichever is lower.