Pradhan Mantri Awas Yojana Eligibility and Subsidy Calculator

Check the PMAY eligibility criteria online

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The Central Government of India launched the ‘Credit-linked Subsidy Scheme’ or CLSS as part of the Pradhan Mantri Awas Yojana. Under this scheme, the economically weaker section, lower-income groups and middle-income groups can get interest subsidies on home loans. To check your eligibility for this scheme, use the PMAY eligibility calculator.

PMAY Eligibility Calculator

PMAY eligibility calculator is a financial tool that has been customised for determining one’s eligibility for the scheme. The tool allows PMAY housing loan borrowers to estimate the interest subsidy they will be entitled to post securing the required financing.
All one will need to do is enter the factors which will be taken into consideration while calculating the PMAY subsidy that they can avail. These are the likes of the loan amount, household’s annual income, the interest rate and tenure.
To Calculate the subsidy savings, you have to check the pradhan mantri eligibility criteria that falls under the Credit Linked Subsidy Scheme category that you are qualified for.

PMAY Subsidy Calculator

Annual Family Income

₹

Loan Amount

₹

Tenure

Years

Rate Of Interest

Subsidy Category

EWS

Total Interest Saved

Subsidy Amount

EMI Saved

*With effect from 31st Mar 21, Applicants with family income of more than ₹ 600,000 are Not Eligible for this subsidy

Particulars	Applied Loan	Subsidy / Savings	Revised Loan
Amount	₹ 5,00,000	(-) ₹ 2,22,7333	₹ 2,77,267
EMI	₹ 4,499	(-) ₹ 2,004	₹ 2,495
Total Interest	₹ 5,79,671	(-) ₹ 2,58,224	₹ 3,21,447

*Exact numbers may vary subject to gov rules and regulations

How to Check PMAY Eligibility Online?

Here’s how you can check the PMAY eligibility online:

Step 1: Input the total annual household/family income in the online PMAY eligibility calculator.
Step 2: Choose the required loan amount.
Step 3: Opt for a suitable tenure for your Home Loan for the subsidy computation (Please ensure that your tenure does not exceed a span of 20 years).
Step 4: Enter the carpet area of the property in the calculator and then confirm that it is your first pucca home, in order to complete the checking procedure of your PMAY eligibility online for the interest subsidy.

After the completion of these steps, the amount of total subsidy which will be available to you will be calculated and then displayed on your screen. The CLSS category which you are qualified for will also be displayed. This calculator aids you to check your eligibility for PMAY online with a few clicks and with accuracy.

How to Use the PMAY Scheme Calculator?

It is extremely simple to check the PMAY eligibility online. All you have to do is enter the,

Annual Family Income
Loan Amount
Tenure (Minimum 12 to 240 Months)
Information Related to Pucca House
Is women Ownership Present in the Property Under Consideration

Once you enter all the values, the estimated PMAY Eligibility result will appear in the calculating tool.

Pradhan Mantri Awas Yojana Eligibility Criteria

Below mentioned is the PMAY eligibility criteria divided into different groups:

Parameter(s)	Middle Income Group 1 (MIG 1)	Middle Income Group 2 (MIG 2)	Lower Income Group (LIG)	Economically Weaker Section (EWS)
Annual income of the household	₹6-12 Lakhs	₹12-18 Lakhs	₹3-6 Lakhs	Up to ₹3 Lakhs
Home loan interest rate subsidy (p.a.)	4%	3%	6.5%	6.5%
Loan amount eligible for Interest Subsidy (₹)	₹9 Lakhs	₹12 Lakhs	₹6 Lakhs	₹6 Lakhs
Maximum repayment tenure (Years)	20	20	20	20
Maximum interest subsidy amount	₹2.35 Lakhs	₹2.30 Lakhs	₹2.67 Lakhs	₹2.67 Lakhs
Maximum carpet area of the dwelling unit (in square metres)	160	200	60	30

Additional pointers under PMAY Eligibility Criteria:

Minority Groups: People hailing from minority groups, such as SC,ST and OBC, among others, will fall under minorities. To be considered under the scheme, these people need to meet to provide the relevant income and caste certificates.
Women Entrepreneurship Encouragement: Women that belong to the EWS and LIG categories will be given preferential treatment under this scheme.
The applicant or their family must not own a house anywhere in India.
If a married couple is applying for a loan, either a single or a joint ownership deal is allowed. And both options will receive just one subsidy.
The applicant’s family must not be past beneficiaries of any Indian government-run housing-related schemes.
Additionally, if the beneficiary is a family, the unit must consist of a husband, wife and unmarried children.

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Who is not eligible for PMAY?

Pradhan Mantri Awas Yojana aims to provide affordable housing to the urban poor. However, there is a set of criteria in order to avail the loan. If an individual already has a pucca house in any part of the country or has earlier availed benefits from any of the central/state government-run housing schemes. Also, if the applicant's annual income is more than ₹18 Lakhs he/she is not eligible for loan under PMAY.

Are the government employees eligible for PMAY?

Irrespective of the type of organisation the applicant works for, a person belonging to one of the income-based categories can apply for the PMAY scheme. Under this scheme, interest subsidy on purchase/ construction/ extension/ improvement of houses is provided to customers belonging to the Economically Weaker Section (EWS), Low Income Group (LIG), and Middle Income Group (MIG-I & MIG-II).

Is female co applicant mandatory for PMAY?

A female co-applicant is not required while applying for a home loan under the PMAY scheme if you belong to the MIG 1 or MIG 2 category. But for the EWS and the LIG category, a female co-owner is required. The property must be co-owned by the leading lady of the family against which the PMAY scheme is being applied for.

How are low-income, middle-income groups classified?

Low Income Group (LIG) - People that fall under this category have to provide proof that the annual household income is between ₹3 Lakhs and ₹6 Lakhs.
Middle Income Group (MIG) 1 - Those who earn less than ₹12 Lakhs are entitled to avail a loan up to ₹9 Lakhs with a maximum subsidy of ₹2.35 Lakhs under the Credit-linked subsidy scheme.
Middle Income Group (MIG) 2 - Individuals earning less than ₹18 Lakhs fall under this category and can avail a loan up to ₹12 Lakhs.

How is the PMAY subsidy calculated?

The amount of subsidy is taken as the Net Present Value or NPV of the interest subsidy. You can use the online subsidy calculator to calculate your PMAY subsidy.