The Pradhan Mantri Awas Yojana (PMAY) is a government initiative aimed at providing affordable housing to the urban poor. A key component of this scheme is the Credit Linked Subsidy Scheme (CLSS), which offers an interest subsidy on home loans.
Our PMAY Subsidy Calculator helps you quickly estimate the subsidy amount you could be eligible for based on your annual income and loan details. This tool simplifies the complex calculations and gives you a clear idea of the financial benefits you can receive.
PMAY Subsidy Calculator
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How to Use the PMAY Calculator
- Enter Annual Family Income: Input the total annual income of your household in Rupees.
- Enter Loan Amount: Provide the total home loan amount you are seeking.
- Enter Loan Tenure: Input the desired loan repayment period in months (e.g., 240 for 20 years).
- Answer the Questions: Select ‘Yes’ or ‘No’ for whether this is your first pucca house and if a woman is an owner or co-owner.
- The calculator will instantly display your eligible Subsidy Category and the estimated Subsidy Amount.
Understanding PMAY Eligibility Categories
The PMAY scheme categorizes beneficiaries based on their annual household income :
- Economically Weaker Section (EWS): Annual income up to ₹3 lakh.
- Low Income Group (LIG): Annual income between ₹3 lakh and ₹6 lakh.
- Middle Income Group I (MIG-I): Annual income between ₹6 lakh and ₹12 lakh.
- Middle Income Group II (MIG-II): Annual income between ₹12 lakh and ₹18 lakh.
Your category determines the maximum subsidy you can receive.
Frequently Asked Questions (FAQ)
What is the main eligibility criterion for PMAY?
The applicant or any member of their family should not own a pucca house in any part of India. The applicant must also not have availed of central assistance under any other housing scheme.
Is female ownership mandatory for PMAY?
Yes, for the EWS and LIG categories, the property should be owned or co-owned by a female member of the household. This condition is not mandatory for MIG-I and MIG-II categories.
How is the PMAY subsidy paid?
The subsidy amount is credited directly to your home loan account by the bank or lending institution. This reduces your total loan principal, which in turn lowers your Equated Monthly Instalment (EMI).
What is the maximum loan tenure for availing the subsidy?
The maximum loan tenure considered for the subsidy calculation is 20 years (240 months)