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 honorable Prime Minister Sh. Narendra Modi with a vision of housing for all in 2022.
Under the PMAY scheme, the 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), and MIG (Middle Income Group) categories under Pradhan Mantri Awas Yojana.
Must Read: What is the Last Date of the PMAY Scheme
Salient Features of the 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 the EWS & LIG category for the purchase of a new house
Advantages of Taking a Home Loan with PNB Housing
- Robust service delivery model – doorstep services ensuring easy & fast approval and disbursal of loans
- Pan India branch network and 30 years of commitment to 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
Watch this video for more insight into the PMAY scheme.
