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Saturday, April 9, 2022

home loan subcidy process .

 How to claim subsidy in Pradhan Mantri Awas Yojana, know what is the whole process. 

Pradhan Mantri Awas Yojana has been started to fulfill the dream of all Indians to have their own house. In this, people buying a house for the first time on the basis of income up to a limit get subsidy.

new Delhi. PM Awas Yojana was started by Prime Minister Narendra Modi to give his pucca house to all the citizens of India, in which subsidy has been announced to provide pucca house to every eligible Indian citizen. This reduces the financial burden of building a house on the people. Know what is the process to get this subsidy.

How to obtain subsidy Beneficiaries get subsidy for home loans from the banks or financial institutions that accept applications from the common people under PM Awas Yojana. These banks do not supply subsidy in their own way, but these banks also obtain subsidy money from Hudco and NHB. That is, banks have to claim money from the Hudco and NHB on your behalf, for which they look you to not only appeal in the scheme by the right channel but also get its assent . That is, with the help of the approval on the documents given by you, the banks make further claims and after the releasing the money, they adjust in your loan account.

How to demand  benefits of PMAY interest subsidy.

Interest subsidy can be help on both new home loan and existing home loan.

If you are taking the new home loan, then you go to the official web page of the PM Awas Yojana.

Verify the Aadhaar number, after which you will be extent the application form

Fill the application form with your details.

Print the application form after submission

Submit this application form along with the other needed documents to the Common Service Centre, Bank or Financial Institution and Banks. After which the bank will send it forward and pass on the benefit of subsidy to you.

If you have already taken the home loan, and are eligible to get the benefit of the loan scheme, then you can be method the bank or financial institution. Appeal for more subsidy

After the data verification and other verification, subsidy will be issued to you, which will be adjusted by the bank in the loan amount.

Who will get the profit of the scheme.


Economically Weaker Section (EWS): Rs 3 lakh. families with annual income up to

Low Income class (LIG): Rs 3 lakh to Rs 6 lakh. families with the annual income between

Middle Income Group I (MIG I): Rs.6 lakh to Rs.12 lakh. families with the annual income between

Middle Income Group II (MIG II): 12 to 18 lakhs. families with annual income between

What are the terms of the plan

No member of the beneficiary family must be have a pucca house in India

The beneficiary family is not taking the advantage of any housing scheme of the Government of India / State Government

The beneficiary family is not help PMAY subsidy from any Primary Lending Institution (PLI)

Home loan borrowers who had profit PMAY subsidy cannot claim the subsidy again under Home Loan Balance Transfer during the loan 

For the married couple, singles individually or in joint ownership will be eligible for the subsidy

Beneficiary families need to submit their Aadhar number to get benefits under the MIG income group 

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