However, if you want to apply in this scheme, then keep in mind that your annual income should be between 6 lakh and 18 lakh only. Under this scheme, interest subsidy on home loan is provided to first time home buyers. This subsidy can be up to a maximum of Rs 2.67 lakh. If you too are eligible for this scheme then you can take advantage of it. But before that it is important to know a few things.
A 6.5 percent credit-linked subsidy is available only for loans up to Rs 6 lakh. Those whose annual income is Rs 12 lakh, they get 4 percent interest subsidy on home loan of Rs 9 lakh.
People with an income of 18 lakh rupees get 3 percent subsidy on the loan of 12 lakh rupees. In all these, the loan period is 20 years. Interest is required to be paid at the existing rate on the additional loan above the subsidized loan amount.
The interest subsidy amount is derived on the basis of NPV i.e. Net Present Value. The NPV of subsidy is extracted in a special way.
This is 4 categories Pradhan Mantri Awas Yojana PMAY pradhan mantri awas yojana eligibility 2019 2020
Economically Weaker Section (EWS) and Lower Income Group (LIG) with 3 lakh to 6 lakh annual income, Middle Income Group 1 (MIG1) with 6 lakh to 12 lakh annual income and Middle Income Group 2 (with 12 lakh to 18 lakh annual income). MIG2).
How much savings on loans up to maximum 12 lakhs Pradhan Mantri Awas Yojana PMAY
Loans up to Rs. 12 lakhs are being given to those with 18 lakh annual income.
Maximum loan: 12 lakh rupees
Assumed interest rate: 8.5 percent
Tenure: For 20 years
EMI: Rs 10,414
Total interest (for 20 years): Rs 12,99,331 lakh
NPV (3% subsidy): Rs 2,30,000
Revised loan amount: Rs 9.7 lakh
New EMI: Rs 8,418
Total interest (for 20 years): Rs 10,50,292 lakh
Savings in EMI: 1996 Rs.
Savings in interest: Rs 2,49,039
pradhan mantri awas yojana subsidy
Subsidy: Rs 2,30,000
Note: A subsidy of 2.67 lakhs for taking a loan of Rs. 6 lakhs, in the same way, people with an annual income of 12 lakhs are getting a subsidy of 2.35 lakhs on loans up to 9 lakhs.
How to apply Pradhan Mantri Awas Yojana PMAY and Pradhan Mantri Awas Yojana application form download
- Log on to the official website of Pradhan Mantri Awas Yojana. You can also click on this link https://pmaymis.gov.in/.
- If you fall under LIG, MIG or EWS category, then click on the other 3 components.
- Enter the Aadhaar number in the first column here. Enter your name written in Aadhaar in the second column.
- After this, give you complete personal details on the page that opens, such as name, address, information about family members.
- With this, click on a box below, on which it will be written that you certify the correctness of this information.
- Once you have filled all the information and submitted, then you will have to enter captcha code here.
- After this you submit this form.
pradhan mantri awas yojana loan subsidy status and pradhan mantri awas yojana eligibility calculator
Log on to the official website of Pradhan Mantri Awas Yojana. You can also click on this link https://pmaymis.gov.in/.
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Visit in SBI bank You can also click on this link https://pmaymis.gov.in/.
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Visit in HDFC bank You can also click on this link https://pmaymis.gov.in/.
pradhan mantri awas yojana gramin list 2020 and pradhan mantri awas yojana gramin
you can visit this link https://pmaymis.gov.in/.