NHB`s new Refinance Schemes

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National Housing Bank
- Refinance Schemes
As applicable to
Housing Finance Companies
and Banks
Refinance Schemes
• Liberalized Refinance Scheme
• Golden Jubilee Rural Housing Refinance Scheme
(GJRHRS)
• Rural Housing Fund (RHF)
• Energy Efficient Housing Refinance Scheme
(EEHRS)
Refinance Schemes for
Affordable Housing
• Special Refinance Scheme for Urban Low Income
Housing (LIH)
• Refinance Scheme for Construction Finance for
Affordable Housing
• Refinance Scheme for Installation of Solar
Equipments in Homes
• Urban Housing Fund (UHF)
Low Income Housing
Main features of the scheme :
• Availability of long term funds
• Concessional rates of interest
• Refinance at fixed rates
• Available for urban areas on pan India
basis
• Operated through wide range of primary
lending institutions
Low Income Housing
• Scheme applicable to HFCs, Banks & other PLIs
• Loans sanctioned and disbursed on or after 01-012012
• Loan size - Upto Rs.10 lakhs
• Location - Urban / semi urban
• Tenure - 5 years to 15 years (Co-terminus with average residual
tenure of pool included in claim)
• Borrowers having annual household income of
upto Rs.2 lakhs
• Interest rate fixed for full tenure
Low Income Housing
On-lending Cap
(%)
Size of individual
loans
for
which
refinance is claimed
Rate of Interest
(%)
≤ Rs. 5 lakhs
8.25
11.00
10.75
> Rs. 5 lakhs and ≤
Rs. 10 lakhs
8.50
11.25
11.00
Without Mortgage
Guarantee
With Mortgage
Guarantee
LIH - Household Income
• Household income for the purpose of this
Scheme shall mean the income of all the coborrowers taken together.
• Income shall be assessed / verified by the
PLIs to their satisfaction and recorded as
such in their credit notes / loan files
covering parameters like IIR, LTV, etc.
assessing
credit
worthiness
and
affordability of the borrowers.
Construction Finance for
Affordable Housing
• The Scheme will provide refinance assistance
to HFCs and Banks in respect of their loans
extended to public agencies, private agencies /
developers / builders for their affordable
housing projects.
• Public agencies includes Housing Boards,
Development Authorities, Slum Improvement
/ Clearance Board, Improvement Trust etc.
Construction Finance Eligible Developers
• Company registered under the Companies
Act with minimum 5 years experience
• The tenure of the refinance under the
Scheme will be co-terminus with the PLI’s
loan to the agency subject to maximum
tenure of 5 years.
• Long term debt equity ratio of the agency
not to exceed 2:1 as per the latest annual
audited accounts
Construction Finance Eligible Projects
• Projects with at least 60% of the permissible FSI for units of
carpet area upto 60 m2 and cost of the unit (having carpet
area upto 60 m2) not exceeding 30 lakhs per unit;
• Promoter’s contribution - minimum 20% of project outlay
• Minimum asset coverage of 1.33:1 based on market/ book
value of the project whichever is lower; as certified by a
valuer (applicable to private agencies).
Solar Lighting & Heating Scheme
• The National Urban Housing and Habitat Policy,
2007, has emphasized on the need for energy
conservation in the housing sector.
• 40% of the total power consumption in the country
is on account of domestic household consumption.
• The JNNSM is a major initiative of the
Government of India to promote ecologically
sustainable growth through increased use of solar
energy.
Solar Lighting & Heating Scheme
Main features of the scheme :
• Refinance for loans extended for purchase
and installation of solar powered devices
for household use
• Availability of long term funds
• Concessional rates of interest at fixed rates
• Operated through wide range of primary
lending institutions
Solar Lighting & Heating Scheme
• Purpose - To provide refinance assistance in
respect of loans extended by PLIs for :
• purchase and installation of solar water heating
systems
• purchase and installation of solar lighting
systems in homes
Solar Lighting & Heating Scheme
• Loans sanctioned and disbursed on or after
01-07-2012
• Loan size - Upto Rs.50,000
• Location – Rural/Urban
• Tenure - 3 years to 7 years (Fixed)
• Ultimate borrowers - Any
Solar Lighting & Heating Scheme
• Interest rates
• Where loan is given to weaker sections in rural
areas, RHF rates will apply as :
Institution
ROI (%)
RRBs
6.50
Others
7.00
• In other cases, card rates specified under the
solar scheme will apply as :
Institution
ROI (%)
RRBs
7.50
Others
8.00
Urban Housing Fund
• In the Union Budget 2013-14, the Hon'ble
Finance Minister has made an announcement
regarding the establishment of an Urban
Housing Fund
• It was proposed to set up the Urban Housing
Fund of Rs. 2000 cr.
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