Application Forms
Revision (wef 01 Oct 20)
MHIL also admissible for Ancestral Property.
Top up facility in MHIL provided to existing loanees within the ceiling, without liquidating the existing loan.
Eligibility
| Officers |
After confirmation of commission. |
| Airmen/NCs(E) |
After completion of two years of service. |
Note : Air Warriors who have not passed the CPE and not been re-mustered will hence forth be eligible for max ceiling/outstanding of all loans taken together as follows:
| Category |
AC / LAC |
| Max Ceiling/Outstanding of all Loans (in Rs ) Subject to ceiling of MCL. |
3,50,000 |
The repayment capacity would be reckoned for a maximum period of 11 years and sanctioned accordingly.
Quantum of Loan
| Officers/ Airmen/ NCs(E) |
25 Lakh |
Subject to repaying capacity |
Purpose for which MHIL can be Availed
- Modular Kitchen.
- Solar Heating Energy System.
- Inbuilt Wardrobes.
- Rain Water Harvesting System.
- False Ceiling (Wooden / Plaster of Paris etc).
- Security and Safety Systems (like CCTV / Fire Alarm / Iron Grills).
Rate of Interest
Repayment of Loan
Processing Fees
- Nil. (Processing Fee has been waived wef 01 Oct 2017)
Loan Insurance
- HBL availed from AFGIS has to be mandatorily insured by payment of necessary contribution (premium) by the loanee.
Pre-payment/Refund of loan
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Re-fixation of EMIs/refund of loan is allowed not more than two times in a financial year.
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Lumpsum refund of the outstanding loan in full or part is permissible. The minimum amount of partial refund is Rs 1,00,000/-, Rs 50,000/- and Rs 25,000/- for officers, airmen and NCs(E) respectively.
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Such refund in full must preferably be made before 25th of a particular month. Any amount remitted after 25th of the month will be accounted in following month.
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Members are requested not to make any remittance in AFGIS account in CASH.
- Details of such refund, of made by e-remittance, must be immediately communicated to AFGIS member's AFNET Login ID under 'Refund Intimation' /FAX / Email
- The outstanding amount displayed on website EXCLUDES the EMI of the selected month.
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No "Cash Deposit" is accepted. No "Third Party Transfer" is allowed. Air warriors are requested to refund the amount from valid bank account only.
Discipline Cases
- Not eligible if two or more (red ink / black ink) entries and five years have not lapsed from the last entry and/or disciplinary proceedings (SOE/GCM/DCM etc) are initiated/ in progress.
Documents to be submitted for availing MHIL
The loanee is to submit the following documents alongwith the MHI loan application form to AFGIS:-
Documents to be submitted after availing MHIL
- Utilisation Certificate within two months from the date of payment.
Note : All the legal papers in the application form are to be used as-it-is and not to be retyped or rephrased
Penal Rate Of Interest
- Penal rate of interest is chargeable for non-submission of documents and non-compliance of stipulated policy & rules.