Your dream home is
now affordable too.

Earn interest subsidy upto 2.67* Lacs
Under current PMAY Scheme

Apply Now

Affordable Housing (PMAY)

The Pradhan Mantri Awas Yojana is an initiative by the Government of India. The central government envisions building 20 million affordable houses (pucca house) by 31 March 2022. With our low-interest affordable loans, we help you avail the government subsidy and take you closer to your pucca home. Aapko pucca ghar delwana hai
humara pucca irada.

Scheme Detail

This scheme is targeted towards benefitting Economically Weaker Section (EWS), Low Income Group (LIG), Middle Income Group-I (MIG-I), and Middle Income Group-II (MIG-II) of society.

CLSS Scheme Type Eligibility Household Income ( ) Interest Subsidy (%) Subsidy calculated on a max loan of Woman Ownership
EWS and LIG Upto 6,00,000 6.50 % 6,00,000 Yes *
MIG 1 ** 6,00,001 to
4.00 % 9,00,000 Not Mandatory
MIG 2 ** 12,00,001 to
3.00 % 12,00,000 Not Mandatory

We understand variable credit cycles and occasional delays. We respect your needs and are there for you to help you through the uncertainties.

  • Who is eligible
    All Indian residents
    Any 21 year old adult
    Any salaried or a self-employed individual
    Loan eligibility will be derived on the basis of your repayment capacity as well as the value of property under consideration
    The loan can be applied for individually or jointly. However, all co-applicants need not be co-owners.
  • What is the loan tenure

    Maximum loan tenure of 25 years subject to:

    Your retirement age will be considered if you are salaried
    Your age at maturity will be considered if you are self- employed
  • What are the repayment options
    Flexible loan installment plan
    Tranche based EMI
  • What are the benefits
    EWS (Economic Weaker Section) annual income Less than Rupees 3 Lac since 2017
    LIG (Lower Income Group) Annual Income 4,00,000 to 6,00,000 Lac INR as well as Mid Income group since Feb 2017
    The beneficiary family should not already own a pucca house in his/her or in the name of any member of the family in any part of India
    A married couple applying for subsidy or joint ownership can only avail a single subsidy.
    The beneficiary family should not have availed any Central/State Government subsidy or benefit for housing under PMAY
  • How much can loan amount be
    Minimum loan amount is 1 lac
    Maximum loan amount is 10 cr
  • Rate of Interest

    We offer you floating rate of interest. Our Home Loan rate of interest is starting @ 10.49%, which are linked to Shriram Housing’s Prime Lending rate (SHPLR). Currently, SHPLR is 15%

Loan Process

Apply from ourwebsite or visits yournearest SHFL branch.Share yourloan requirement details.Submit necessary loandocuments to completethe loan applicationprocess.Assessment of theapplication basisthe details sharedEvaluation of repaymentcapacity and propertyappraisal by thecredit teamApproval to the home loanapplication by creditunderwriting teamLoan disbursal as per pre-agreedterms and conditions.WelcomeHome!1234567

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Frequently Asked Questions

From the time you decide to invest in real estate to the time you decide the final property, any time in between is a good time to apply for loans. The loan amount is sanctioned in principle so that you can know the loan amount limit. This will help you plan your other expenses involved during setting up your dream home.
The good news is that you can avail a home loan for any ready property, under construction or if you are constructing your own house. The loan can also be applied before the commencement of the project.
We are happy to say yes again! Before you choose the house you want to buy, we give you an in-principle approval based on your income and capacity to repay. This makes the entire process of identifying and buying a house easier and more flexible.
The Co-owners of the property for which loan has been sought can be co-applicants. The co-applicants must be blood relatives. Usually, joint applications are from husband-wife, father-son or mother-son.
To maximize the sanctionable loan amount.. Adding a woman as co-applicant also helps in getting a better interest rate.
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