Loan Subsidy Under PMAY – Pradhan Mantri Awas Yojana 2018

Pradhan Mantri Awas Yojana Loan Subsidy August 2018 – Get all updates for PMAY, Get Home Loan Subsidy on PMAY, Loan, Process & tutorial. www.epfoscheme.in builds the step by step ways and direct links for you to use the features under the Pradhan Mantri Awas Yojana through the official website.

Updated – August 2018

Get Updates on: प्रधानमंत्री आवास योजना ✓ Important Dates ✓ Beneficiaries Details ✓ Flat Locations ✓ Annual Income Required for EWS/LIG ✓ Loan Procedure ✓ Application Form ✓ Interest Rate Loan ✓ Loan Procedure ✓ Flat Price ✓ EMI Calculator ✓ Number of Flats under PMAY ✓ Application Procedure ✓ Eligibility  ✓ Subsidy Scheme ✓ Features  & More.

USEFUL INFORMATION
Country India
Started By Central Government
Given Name Pradhan Mantri Awas Yojana OR Housing for all 2022 Scheme
Known As PMAY
Description PMAY Loan Subsidy
Time Period 7 Years
Implemented by 2015 – 2022 (June 17, 2015 – March 31, 2022)
Eligible Categories LIG / EWS (Lower Income Group / Economically Weaker Section)
Requirement for LIG (Annually) ₹ 3 Lacs up to ₹ 6 Lacs
Requirement for EWS (Annually) ₹ 3 Lacs
Subsidy for LIG / EWS YES / Available
Customer Care Toll Free 1800-11-5050 
Office Address RAAS Housing Finance (India) Limited
1249, Aruna Asaf Ali Marg,
Vasant Kunj, New Delhi-110070
Website pmaymis.gov.in |  mhupa.gov.in

 

HIGHLIGHTS OF LOAN SUBSIDY

According to this Credit Linked Subsidy, the persons of the middle range group OR Middle Income Group with the income nearly to this scheme demand will get loan subsidy of up to 3% to 4 %.

Credit Linked Subsidy is a part of Pradhan Mantri Awas Yojana OR Housing for all 2022 Scheme.

Credit Linked Subsidy covers two major income segments in the Middle Income Group (MIG)

Income Segments
MIG-I

₹.6,00,001

to

₹.12,00,000 (per annum)

MIG-II

₹.12,00,001

to

₹.18,00,000 (per annum)

 

THINGS YOU SHOULD KNOW

The interest subsidy of 4% has been provided for loan amounts up to or nearly ₹ 9 lacs, The interest subsidy of 3% has been provided for loan amount of up to or nearly ₹ 12 lacs

Note: The interest subsidy will be calculated at 9% NPV over a maximum loan tenure of 20 years or the actual tenure. Housing loans above ₹ 9 lacs and ₹ 12 lacs will come in the category of non-subsidized rates & the person will not get an interested subsidy.

If the person bought their home for the first time in a city or town under the PM Awas Yojna (PMAY), The monthly instalment or EMI for a new property will decrease by around ₹ 2,000/- and if your annual household income is in the range of Rs 12-18 lakh.

PMAY CREDIT LINKED SUBSIDY – ₹ 6,00,000 – August 2018

If the person in Middle Income Group (MIG) took the home loan from the banks of up to ₹ 6,00,000 Interest rate offered by the banks would be 9.80%. (Under Pradhan Mantri Awas Yojna)

SUMMARIZATION
Loan Amount ₹ 6,00,000
Interest Rate 9.80 %
Number of EMI’s 240 EMI’s
Loan Period 240 Months (20 Years)
Subsidy Amount ₹ 2,20,187

PMAY CREDIT LINKED SUBSIDY – ₹ 8,00,000 – August 2018

If the person in Middle Income Group (MIG) took the home loan from the banks of up to ₹ 8,00,000 Interest rate offered by the banks would be 9.80%. (Under Pradhan Mantri Awas Yojna)

SUMMARIZATION
Loan Amount ₹ 8,00,000
Interest Rate 9.80 %
Number of EMI’s 240 EMI’s
Loan Period 240 Months (20 Years)
Subsidy Amount ₹ 2,20,187

PMAY CREDIT LINKED SUBSIDY – ₹ 10,00,000 –  August 2018

If the person in Middle Income Group (MIG) took the home loan from the banks of up to ₹ 10,00,000 Interest rate offered by the banks would be 9.80%. (Under Pradhan Mantri Awas Yojna)

SUMMARIZATION
Loan Amount ₹ 10,00,000
Interest Rate 9.80 %
Number of EMI’s 240 EMI’s
Loan Period 240 Months (20 Years)
Subsidy Amount ₹ 2,20,187

PMAY CREDIT LINKED SUBSIDY – ₹ 15,00,000 – August 2018

If the person in Middle Income Group (MIG) took the home loan from the banks of up to ₹ 15,00,000 Interest rate offered by the banks would be 9.80%. (Under Pradhan Mantri Awas Yojna)

SUMMARIZATION
Loan Amount ₹ 15,00,000
Interest Rate 9.80 %
Number of EMI’s 240 EMI’s
Loan Period 240 Months (20 Years)
Subsidy Amount ₹ 2,20,187

PMAY CREDIT LINKED SUBSIDY – ₹ 18,00,000 – August 2018

If the person in Middle Income Group (MIG) took the home loan from the banks of up to ₹ 18,00,000 Interest rate offered by the banks would be 9.80%. (Under Pradhan Mantri Awas Yojna)

SUMMARIZATION
Loan Amount ₹ 18,00,000
Interest Rate 9.80 %
Number of EMI’s 240 EMI’s
Loan Period 240 Months (20 Years)
Subsidy Amount ₹ 2,20,187

 

RULES UNDER CREDIT LINKED SUBSIDY

◆ For 6 lacs income group Loan amount should not exceed the limit of ₹ 6,00,000/-

◆ For 12 lacs income group Loan amount should not exceed the limit of ₹ 9,00,000/-

◆ For 18 lacs income group Loan amount should not exceed the limit of ₹ 12,00,000/-

◆  Only the persons from the category of EWS & LIG can apply.

◆  The maximum availability of Subsidy interest rate is 15 Years.


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