OWN A HOME with an interest subsidy ofWITH CREDIT LINKED SUBSIDY SCHEME (CLSS)
UNDER PRADHAN MANTRI AWAS YOJANA (PMAY)
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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