PMAY Subsidy Calculator

Trusted Personal Finance Calculator

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.

FAQs

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.

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.

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).

The maximum loan tenure considered for the subsidy calculation is 20 years (240 months).

More Questions?

How to Use the PMAY Subsidy 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.