Loans4you.in acts as online financial Solutions provider and is not a Lender. We are online platform for consumer to compare their loans, Credit card, Investment and Insurance requirement at one Place.
The “Credit Linked Subsidy Scheme” (CLSS) under Pradhan Mantri Awas Yojana (PMAY) was announced by our Honourable Prime Minister Shri Narendra Modi. The scheme envisages the vision of housing for all by the year 2022.
Under this scheme, interest subsidy on purchase/ construction/ extension/ improvement of house is provided to customers belonging to Economical Weaker Section (EWS)/Lower Income Group (LIG)/Middle Income Group (MIG).
Key Parameters of Credit Linked Subsidy
|Scheme Type||EWS/LIG||MIG – I||MIG – II|
|Eligibility Family Income (Rs.)||EWS – Rs. 0 to Rs. 3, 00,000
LIG – Rs. 3,00,001 to Rs. 6,00,000
|Rs. 6,00,001 to
|Carpet Area-Max (sq. m.)||30 sqm** / 60 sqm**||160||200|
|Subsidy calculated on a max loan of||Rs. 6,00,000||Rs. 9,00,000||Rs. 12,00,000|
|Interest Subsidy (%)||6.50||4.00||3.00|
If you are eligible for PMAY subsidy benefit you can submit your request. The bank will review your request for subsidy claim and will submit the claim to National Housing Bank.
Please follow the below process:
*The Details mentioned above are based on the scheme framed by the Government of India under the Pradhan Mantri Awas Yojana (PMAY). These are subject to change as and when there is a change in the scheme by the Government of India.