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Frequently Asked Questions

Who can avail subsidy under CLSS in PMAY?

A beneficiary family that does not have any pucca house in any part of India is eligible for a subsidy through PMAY, as per the income criteria defined for the family.

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What is the definition of beneficiary family in accordance to PMAY?

The beneficiary family as defined under PMAY will comprise of the husband-wife and their unmarried children. An adult earning member (irrespective of marital status) can be treated as a separate family/household.

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Is women ownership mandatory for being eligible for this subsidy under PMAY?

Women ownership or co-ownership is mandatory for EWS and LIG only. However, this condition is not mandatory for self-construction / extension. Women ownership is not mandatory for MIG-I and MIG-II.

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How will I receive the interest subsidy that I’m eligible for under PMAY?

Once the subsidy amount is received from the NHB, it is credited to the borrower’s home-loan account as a part payment, and the EMI is proportionately reduced.

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I have a small business. Can I avail a home loan under PMAY?

Yes, you can avail this facility, subject to meeting the income and other criteria defined under this scheme.

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Disclaimer (Things you should know):

For loans: Credit at the sole discretion of the Bank and subject to guidelines issued by RBI from time to time. Bank may engage the services of marketing agents for the purpose of sourcing loan assets.

* Rs. 5,000 Flat processing fee applicable for women applicants.