Loans or Advances can be given to a beneficiary who has been working as a beneficiary building worker for construction of a house at the following rate on the conditions that the applicant beneficiary should execute a SURETY BOND as prescribed by the board and that the entire loan or advances and its simple interest @5% per annum should be repaid within 5 years commencing from the date of receipt of the same at such suitable monthly instalment as may be specified by the Board.
- Rs.1,00,000/- for beneficiary building worker engaged in Unskilled Labour.
- Rs.1,50,000/- for beneficiary building worker engaged in Simi-Skilled labour.
- Rs.2,00,000/- for beneficiary building worker engaged in Skilled labour.
A completion certificate shall be submitted to the Board by the beneficiary building worker within six months from the date of Drawal of the of the Loan or Advance. The failure of the beneficiary building worker to comply with this requirement will make liable for the legal action by the Board.