1. To provide financial assistance to Self-help Group members for the purchasing or buying of a house
2. To provide financial assistance to Self-help Group members for the construction of a house
3. To provide financial assistance to Self-help Group members for the purchase of a work space or shed to conduct activities such as selling of groceries, dairy products, tailoring etc
4. To provide financial assistance to Self-help Group members for the repair, upkeep or renovation of a house, work space or shed that already exists
5. To provide financial assistance in order to help the group members with the purchase or acquisition of a plot of land for the purpose of construction of a house
6. To provide financial assistance to Self Help Group members for the extension of the following:
   1. An existing house
   2. An additional work space for an existing house
   3. A shed

Eligibility Criteria for The SBI Sahyog Niwas Scheme:

Self help group members looking to avail of home loans or finance through the SBI Sahyog Niwas Scheme are required to fulfill the following eligibility criteria:

1. The applicant must be a part of a Self Help Group
2. The Self Help Group must have a good track record regarding payments for at least two years prior

Features Of The SBI Sahyog Niwas Scheme:

The main features of the SBI Sahyog Niwas Scheme are as follows:

1. Loans granted under this scheme can be availed by Self Help Groups operating in rural areas
2. The loan amount that can be availed can be up to ten times the amount that the Self Help Group has accumulated as savings
3. The loan amount will also take into consideration any outstanding loans that have already been rolled out to the Self Help Group
4. Each Self Help Group will disburse the loan amount in the following manner to its members for the purpose of housing:
   1. In the case of construction or buying of a house, a maximum loan amount of Rs 50,000 will be disbursed to each member
   2. In the case of any renovations or repairs to an existing house, a maximum loan amount of Rs 25,000 will be disbursed to each member
   3. In the case of the purchase of a plot of land for the purpose of construction of a house, a maximum loan amount of Rs 25,000 will be disbursed to each member

Repayment Schedule Under the SBI Sahyog Niwas Scheme:

Self-help Groups who have availed of a loan under the SBI Sahyog Niwas Scheme can make repayments towards the loan in the following manner, according to the conditions prescribed below:

1. The group can make repayments in installments, which can be spread out over a maximum duration of 15 years
2. The installments can be made at the following regular intervals, as per the group's convenience:
   1. Monthly
   2. Quarterly
   3. Half-yearly
   4. Yearly

COMPARE SBI PAL SCHEME

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