A "low interest" loan shouldn't mean you have very little interest in paying it back!
The CLSS or Credit Linked Subsidy Scheme under PMAY (Pradhan Mantri Awas Yojana) has been introduced by MoHUPA or the Ministry of Housing and Urban Poverty Alleviation for construction, purchase, extension, and improvement of homes owned by individuals belonging to MIG (Middle Income Group) 1 & 2, Low Income Group (LIG), and Economically Weaker Section (EWS).
The beneficiary family consists of the wife, husband, and single children. An adult who is earning and independent can be considered as a separate household irrespective of his/her marital status. This is applicable for the MIG (Middle Income Group) category. All the statutory towns according to the census of 2011 including the planning area are covered under Pradhan Mantri Awas Yojana in Kolkata.
| Category | Interest subsidy | Maximum amount of loan considered for the calculation of subsidy | Maximum amount of subsidy | Maximum carpet area |
|---|---|---|---|---|
| EWS (Economically Weaker Section) an LIG (Low Income Group) | 6.50% | Rs.6 lakh | Rs.2.67 lakh | 60 sq.mt |
| MIG (Middle Income Group) 2 | 3.00% | Rs.12 lakh | Rs.2.30 lakh | 150 sq.mt |
| MIG (Middle Income Group) 1 | 4.00% | Rs.9 lakh | Rs.2.35 lakh | 120 sq.mt |
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.
