Credit Linked Subsidy Scheme
The Pradhan Mantri Awas Yojana (PMAY) Credit Linked Subsidy Scheme (CLSS) is a scheme launched by our honourable Prime Minister Shri Narendra Modi for the Economically Weaker Section (EWS), Low Income Group (LIG), Middle Income Group-I (MIG-I) and Middle Income Group-II (MIG-II) of people. Through this scheme, the beneficiary is eligible to avail interest subsidy on the purchase/construction of a house. The scheme is also available for the enhancement of a dwelling unit.
SALIENT FEATURES OF CLSS
  • Interest subsidy of 6.50%* p.a. up to a loan amount of ₹6 lakh for 20 years or the actual term, whichever is lower, credited upfront
  • Actual subsidy amount credited is as approved by the National Housing Bank (NHB)
  • Family means husband/wife/unmarried children
  • Applicable for customers who are purchasing/constructing their first home. The beneficiary family should not own any home in their name
  • The carpet area should not exceed 30 sq. mt. for EWS (annual household income up to ₹3 lakh PA), 60 sq. mt. for LIG (annual household income between ₹ 3 lakh to ₹6 lakh PA), 90 sq. mt. for MIG-I(annual household income between ₹6 lakh to ₹12 lakh PA), and 110 sq. mt. for MIG-II(annual household income between ₹12 lakh to ₹18 lakh PA)
  • The construction/extension must be completed within 36 months
  • Woman has to be owner/co-owner of the property

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