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PMAY Home Loan and CLSS: How Can it Help Home Buyers


Pradhan Mantri Awas Yojana (PMAY), out of all the initiatives by the Indian government, is the most lucrative scheme. The best part about the scheme is, the benefits are reaching a major share of the population. As of now, the people belonging to the EWS, LIG, and MIG income-based categories can apply for this scheme.

If you, being an Indian citizen, want to purchase a home of your own for the very first time, you can do so by financing the purchase using the subsidised home loan offered by PMAY scheme. Don’t believe me? Take a look at the below-mentioned facts on how PMAY can help you buy your dream home.

  • PMAY Home Loan at Subsidized Interest Rates

First of all, the PMAY association has a list of a couple of Indian banks and NBFCs which are registered with them, and are eligible to provide home loans at a subsidized rate. This funding will be offered by the PMAY; only to applicants who qualify all the terms and conditions and have a good repayment capacity.

  • PMAY CLSS for Existing Home Loan Subscribers

For people, applicants who already bought a home using a loan from any bank or NBFC but still want to benefit from the scheme, they can apply for the PMAY CLSS. The term stands for PMAY Credit Linked Subsidy Scheme, which offers a subsidy, capped at Rs 2.67 lacs, to eligible existing home loan subscribers.

  • Special offers for Women Applicants

The PMAY scheme has special provisions for women borrowers. Under the PMAY scheme, women are given a preferential allotment of houses over males and their applications are processed through a special window.

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