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PMAY

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

Salient Features
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
  • 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).