Introduction to PMAY – Pradhan Mantri Awas Yojana – Credit linked subsidy scheme

Pradhan Mantri Awas Yojana – The interest subsidy scheme CLSS (Credit Linked Subsidy Scheme) introduced by MHUPA (Ministry of Housing & Urban Poverty Alleviation) was announced by our honourable Prime Minister Sh. Narendra Modi with a vision of housing for all in 2022.

Under PMAY scheme, Customer (i.e. the beneficiary) is eligible to avail interest subsidy on the purchase/construction/enhancement of a house.

PNB Housing Finance offers “Credit Linked Subsidy scheme (CLSS)” for EWS (Economical Weaker Section), LIG (Lower Income Group), MIG (Middle Income Group) categories under Pradhan Mantri Awas Yojana.

Must Read: Features and Benefits of Pradhan Mantri Awas Yojana

Salient features of scheme:

• Interest subsidy benefit is calculated for 20 years
• Benefits available for the first property purchase
• Applicants should be of immediate family including self, spouse and unmarried children only
• Women Ownership is mandatory under EWS & LIG category for purchase of a new house

Watch this video for more insight on PMAY scheme.

For Hindi translation – https://youtu.be/pPGICjPFx7o
For Tamil translation – https://youtu.be/7AqOtHoCdHU

Advantage of taking Home loan with PNB Housing

• Robust service delivery model – doorstep services ensuring easy & fast approval and disbursal of loans
• Pan India branch network and 29 years of commitment towards customer satisfaction
• No prepayment or foreclosure charges on Home Loan*
• Home loan up to 90%* of the property value
• Customized eligibility program to work out your loan amount

For more details on the scheme please refer www.mhupa.gov.in

Must Read: What is the Last Date of Pradhan Mantri Awas Yojana (PMAY) Scheme

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