YS Jagan Mohan Reddy
Vijayawada: Chief Minister YS Jagan Mohan Reddy released Rs 46.90 crore towards reimbursement of interest for 4,07,323 beneficiaries who have availed housing loans from banks under Navaratnalu-Pedalandariki Illu.
Reimbursement is done twice a year. Releasing the amount virtually from the camp office at Tadepalli near here on Thursday, he said that the interest reimbursement over and above three per cent on the bank loan of Rs 35,000 each helps the beneficiaries pay only 25 paisa interest on housing loans for houses constructed in Jagananna Colonies.
As the banks are providing housing loans on 9 to 11 per cent interest rates, the government has decided to reimburse interest over and above three per cent to reduce the financial burden of the beneficiaries. So far, it has provided bank loans worth Rs 4500.19 crore to 12.77 lakh beneficiaries.
