HDFC Pradhan Mantri Awas Yojana (PMAY) scheme 2025
If you meet the eligibility criteria, then you can visit the nearest HDFC Bank and apply for the Pradhan Mantri Awas Yojana (PMAY) scheme. PMAY is a government launched home loan scheme which aims to provide homes to all the people who are economically weak. The government aims to fulfil the mission by 2022. We will have a look at what the HDFC PMAY scheme offers in detail.
HDFC PMAY Eligibility
- No one from your family including you must own a pucca house in your name or in the name of any member of your family.
- If you are married, then you can apply for the PMAY scheme where both you and your spouse will be jointly eligible for a single subsidy.
- You must not have availed any other Government housing scheme or any other benefits applicable under the PMAY scheme.
PMAY CLSS Scheme under HDFC
BankType of CLSS scheme | EWS and LIG | MIG-I | MIG-II |
Annual Income | Up to Rs.6 lakh | Rs.6.01 lakh- Rs.12.00 lakh | Rs. 12.01 lakh-18.00 lakh |
Carpet Area | 60sq m | 160sq m | 200sq m |
Interest Subsidy | 6.5% | 4% | 3% |
Maximum loan amount on which subsidy will be calculated | Rs.6 lakh | Rs.9 lakh | Rs.12 lakh |
Purpose for which loan is to be availed | Purchase, self-construction or extension a house | Purchase, self-construction or extension a house | Purchase, self-construction or extension a house |
Validity of the scheme | 31st March 2022 | 31st March 2021 | 31st March 2021 |
Maximum subsidy amount | Rs.2.67 lakh | Rs.2.35 lakh | Rs.2.30 lakh |
Woman ownership | Yes | Not mandatory | Not mandatory |
Credit Linked Subsidy Scheme - EWS /LIG
- If you belong to the Economically Weaker Section (EWS) or Low-Income Group (LIG), then you can apply for the PMAY scheme where an interest subsidy at 6.50% will be charged by the bank.
- Your annual income must range between Rs.3 lakh and Rs.6 lakh.
- The carper area must not exceed 60 square meters.
- You can avail interest subsidy on a maximum loan amount of Rs.6 lakh.
FAQs on HDFC PMAY
- What should a family comprise of to be eligible for PMAY scheme?
The family must comprise of two spouses, and unmarried children to be eligible for PMAY scheme.
- One of my kids is an earning member. Can they apply for this scheme?
They can apply for this scheme separately.
- What will the discount rate at which Net Present Value (NPV) will be calculated?
The discount rate at which NPV will be calculated will be 9%.
- How can I apply for this scheme?
You can apply for this scheme by visiting the nearest HDFC Bank along with all the necessary documents. A representative from the bank will help you with the process of applying for this home loan scheme. You can also avail the call back facility available on the HDFC website. A customer care executive will get in touch with you.
- Is it mandatory to have Aadhar?
Yes, it is mandatory for you to have Aadhaar if you wish to apply for a PMAY home loan scheme.
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