- Loan availed by EWS / LIG household must be approved not before 17-06-2015 and Loan availed by MIG I / MIG II household must be approved not before 01-01-2017
- Woman home ownership is mandatory for EWS / LIG households in order to avail subsidy
- Aadhar card number is mandatory for subsidy application under MIG category
- EWS / LIG can also avail subsidy for loans taken towards improvement of their homes (woman home ownership not compulsory)
- Discount rate of 9% and maximum tenure of 20 years would be applied for calculation of subsidy amount, also known as Net Present Value (NPV).
- No cap on loan amount. Loan amount above the maximum limit will not be considered in subsidy calculation and will be considered as non-subsidized.
- CLSS scheme for EWS / LIG customers is made available till March 31, 2022, whereas for MIG I / II households is made available till March 31, 2019.
- Balance Transfer of existing Home Loans will also be ELIGIBLE for Subsidy provided the loan sanction date eligibility criteria is met. ( If not received subsidy on home loan).
SHFC is a Primary Lending Institution (PLI) under the PMAY program established by MHUPA as a part of Government of India’s mission “Housing for All”. Under the CLSS (Credit Linked Subsidy Scheme), the first-time home owners having family income of up to Rs.18 lacs can avail subsidy of up to Rs.2.67 lakhs on their home loans availed for purchase/self-construction of housing units in PMAY notified towns
|Customer Type||Annual household Income||Max Loan Amt for subsidy||Rate of subsidy||Carpet Area||Max Subsidy|
|EWS||Up to Rs.3 lakhs||6 lakhs||6.5%||30 sq.m.||Rs.2.67 lakhs|
|LIG||Up to Rs.6 lakhs||6 lakhs||6.5%||60 sq.m.||Rs.2.67 lakhs|
|MIG I||Rs.6.01-12 lakhs||9 lakhs||4.0%||120 sq.m.||Rs.2.35 lakhs|
|MIG II||Rs.12.01-18 lakhs||12 lakhs||3.0%||150 sq.m.||Rs.2.30 lakhs|