A "low interest" loan shouldn't mean you have very little interest in paying it back!
  • Home Loan Subsidy Calculator

    A home loan subsidy calculator is an application that allows you to determine the discount you would be able to avail on a home loan obtained from a PMAY scheme. In order to calculate the subsidy on your PMAY scheme, you simply have to enter the details of your loan alike rate of interest, principal, etc. The application will then estimate the subsidy you would receive from obtaining a home loan.

    To Use The Home Loan Subsidy Calculator, Follow The Steps Mentioned Below

    Step 1: Visit the official PMAY website

    Step 2: Click on 'Subsidy Calculator’ on the navigation panel or visit the PMAY (U) page for the NPV Subsidy Calculator pmaymis Calculator

    Step 3: Enter the details required on the page such as loan amount, tenure, family income, etc.

    Step 4: Click on ‘Calculate’

    Step 5: Details of your subsidy amount will be generated and displayed instantly on the page

    Subsidy Classification Of PMAY

    Clss Max. Household Income Maximum Subsidy Max. Area Subsidy On Interest Max. Loan Amount Loan Tenure
    MIG - 2 Rs.12 – 18 lakh Rs.2.30 lakh 110 sq. meter 3% p.a. Rs.12 lakh 20 years
    MIG -1 Rs.6 – 12 lakh Rs.2.35 lakh 90 sq. meter 4% p.a. Rs.9 lakh 20 years
    LIG Rs.3 – 6 lakh Rs.2.67 lakh 60 sq. meter 6.5% p.a. Rs.6 lakh 20 years
    EWS Rs.0 – 3 lakh Rs.2.67 lakh 30 sq. meter 6.5% p.a. Rs.6 lakh 20 years

    Documents Required To Obtain The Benefits Of PMAY

    • Aadhaar card
    • Buyer builder agreement or ATS copy
    • Sanction letter for the loan
    • PAN card
    • Stamp paper / affidavit

    How To Check If You Are Eligible For A PMAY Scheme

    • Log in the official PMAY website
    • Now, click on ‘Search Beneficiary’
    • After this, click on ‘Search Name’
    • You will now have to type in your name and click on ‘Show’
    • The website will now display all the beneficiaries with the name entered by you
    • Press ‘Ctrl + F’ if you want to filter out the names and then type in your surname name
    • Your name should pop up on the screen if you are a beneficiary

    Eligibility Criteria For PMAY Scheme

    In order to be eligible for a PMAY scheme, an individual must meet the following criteria.

    • Any individual who is a first-time homebuyer that doesn’t have any property in his/her name
    • In case of an unmarried applicant, his/her parents must not own a property in any part of India
    • In case of a married applicant, his/her spouse or kids must not own a property in any part of India
    • For applicants under LIG or EWS, a woman co-applicant is mandatory to avail the benefits of PMAY
    • The applicant and his family should not have availed any housing scheme, including PMAY, previously
    • The beneficiary can obtain the home loan only for construction/improvement/purchase of a home.

    Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

    This Page is BLOCKED as it is using Iframes.