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 12,00,000	4.00 %	9,00,000	Not Mandatory
MIG 2 **	12,00,001 to 18,00,000	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

Download Forms

Application Form

Download the application form here. Or contact our branch office

Document Checklist

Inventory of required documents to be submitted along with the application

Our Other Products

LOAN AGAINST PROPERTY

Avail loan against your residential property

CONSTRUCTION FINANCE

Avail loan for your real estate construction projects

Refinance

Transfer outstanding loans under one roof

Frequently Asked Questions

When is the right time to apply for a home loan?

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.