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