National Housing Bank 2026
Building a home is the first step taken to create a stable future. It provides a lasting shelter for a family. As the property cost is usually high, borrowing a home loan offers financial support and makes homeownership possible. Having access to these kinds of loans ensures that the dream of a house is within reach for everyone.
The National Housing Bank acts as the lead authority that supervises and provides refinance to keep the housing market healthy and strong. Its goal is to build a system where affordable housing is available to all sorts of people across the country. Read on to learn more about the eligibility criteria, features and benefits of the various schemes provided by National Housing Bank.
What does the National Housing Bank do?
The National Housing Bank helps build a healthy system for homes. It provides proper refinance and support to ensure all sorts of families can find safe shelter. The functions of National Housing Bank are as follows:
- The primary function of National Housing Bank is to supervise and regulate housing finance companies to ensure the entire system remains healthy.
- The National Housing Bank provides refinance to other financial institutions, making sure there is enough support for building new homes and providing stable shelter.
- It acts as a principal agency, which coordinates with the government to build better policies that support the growth of housing throughout the country.
- It focuses on the overall health of the housing sector to ensure that financial assistance is always available for those looking to start their own home project.
Housing Schemes Offered National Housing Bank
The housing schemes offered by National Housing Bank are as follows:
Rural Housing Interest Subsidy Scheme (RHISS):
This scheme was launched by the Government of India with the specific objective to provide homes and assistance to rural households by the year 2022.
Eligibility Criteria:
It is available for rural households that are not on the permanent wait list for PMAY-Gramin and need assistance to construct, improve, or repair their dwellings.
Features and Benefits
- Eligible beneficiaries receive a substantial interest subsidy of up to 6.5%, effectively reducing the long-term debt burden.
- The scheme mandates ground floor accommodations for senior citizens and the differently abled to enhance accessibility and social equity.
- Structural ownership is decentralized by encouraging women to serve as primary homeowners or compulsory co-applicants.
Pradhan Mantri Awas Yojana (PMAY) – Credit Linked Subsidy Scheme (CLSS):
The PMAY scheme was launched by the Indian government with the aim of providing affordable housing to the weaker sections of the society.
Eligibility Criteria:
This scheme is designed for households earning an income in the range of Rs.3 lakh and Rs.18 lakh (EWS, LIG, and MIG categories), and who do not own a pucca house in the country. Moreover, preference is given to female owners or joint ownership with women.
Features and Benefits:
- Through this scheme, the beneficiary gets an interest subsidy ranging from 3.00% to 6.50% based on the income group, with a maximum loan tenure of 20 years and specific carpet area limits.
- The scheme expands the reach of formal credit by targeting individuals not listed on the permanent PMAY (Gramin) waitlist.
- The scheme offers a maximum loan tenure of 20 years. This ensures that the repayment cycles in manageable for the beneficiary.
How to Contact National Housing Bank?
There are multiple ways to contact the National Housing Bank. They are as follows:
- You can contact the bank on their toll-free numbers 1800-11-3377 or 1800-11-3388 in case of any complaints.
- Alternatively, you can send them an email at clssim@nhb.org.in in case of any queries or assistance.
FAQs on National Housing Bank
- What is the main objective of the National Housing Bank?
The main objective of the National Housing Bank is to promote affordable housing and a strong housing finance system.
- Is National Housing Bank responsible for setting home loan interest rates?
No, the National Housing Bank does not set interest rates. They are set by banks and housing finance companies.
- How does National Housing Bank benefit home buyers indirectly?
The National Housing Bank helps improve loan availability, affordability, and lending standards, which indirectly benefits the home buyers.
- Can home buyer file complaints with National Housing Bank?
Yes, home buyers can file complaints against Housing Finance Companies with National Housing Bank.
- What is the difference between the Reserve Bank of India and National Housing Bank?
The RBI is responsible for regulating banks, while National Housing Bank is responsible for regulating housing finance and HFCs.
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