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PMAY Pradhan Mantri Awas Yojana

About Pradhan Mantri Awas Yojana (PMAY)

Pradhan Mantri Awas Yojana- Credit Linked Subsidy Scheme (PMAY-CLSS) enables home loan borrowers purchasing or constructing their first pucca house to get subsidy credited into their loan account of upto 2.67 lakh.

Key Highlights of the Scheme

Period of the Scheme

17.06.2015 onwards


All Statutory Towns as per Census 2011 and towns notified subsequently including planning area as notified with respect to Statutory Town.

New Construction, acquisition and addition of rooms, kitchen, toilet etc to existing dwelling as incremental housing

Eligibility Criteria for Beneficiaries:

  1. Beneficiary family will comprise of husband, wife and unmarried children. An adult earning member (irrespective of marital status) can be treated as a separate household.
  2. In case of married couple, either of the spouses or both together in joint ownership will be eligible for single house, subject to income eligibility of the household under the scheme.
  3. In case of EWS/LIG, the Unit should be in the name of the female head of the household or in the joint name of the male head of the household and his wife. In case when there is no adult female member in the family, the house can be in the name of male member of the household.
  4. The beneficiary family should not own a pucca house either in his/her name or in the name of any member of his/her family in any part of India.
  5. Should have not availed Central assistance under any housing scheme from Government of India

Apply Online for Home Loan under PMAY

Apply for Home Loan under Pradhan Mantri Awas Yojana-Credit Linked Subsidy Scheme (PMAY-CLSS) online. Click here


Assuming loan tenure of 20 yrs & Rate of Interest @8.35%:

Beneficiary under EWS/LIG:

3,00,000 2,575 1,428 1,147 2,75,280
6,00,000 5,150 2,856 2,294 5,50,560
10,00,000 8,584 6,289 2,295 5,50,800

For Rs.10 lacs loan, Total Savings = Rs.5,50,800 (Saving over 20 yrs loan tenure) + Rs.2,67,280 (Maximum subsidy amt) = Rs.8,18,080/-

LIC HFL Home Loan Features

  • Online Home loan sanction facility
  • Quick sanction and low EMI
  • Simple documentation
  • Maximum Tenure of 30 years or attainment of 60 years whichever is earlier.
  • Amongst the lowest rate of interest
  • No Pre-Payment Penalty.
  • Available for construction / purchase of house or flat from private developer or housing boards and repairs/renovation to the existing properties.

Interest Rate on Home Loan

Rate of Interests (Floating - Linked to LHPLR) Current LHPLR - 14.70%
Loan Slab (CIBIL >= 700) Salaried & Professional Non-Salaried & Non Professional
Up to 2 crs 6.75% 6.75%
More than 2 crs & up to 15 crs (For Griha sidhi/Apna Ghar/Advantage Plus) 6.90% 7.00%
More than 2 crs & upto 3 crs (2020 Homecoming) 7.10% 7.20%
More than 3 crs & upto 5 crs (2020 Homecoming) 7.20% 7.30%
Loan slab CIBIL Score Salaried & Professional Non-Salaried & Non Professional
Upto Rs. 50 Lakhs CIBIL 650 - 699 7.10% 7.20%
CIBIL 600 - 649 7.30% 7.40%
CIBIL < 600 7.50% 7.60%
CIBIL 101-200 OR NTC 7.20% NA
More than 50 Lakhs & Up to Rs. 1 Cr CIBIL 650 - 699 7.30% 7.40%
CIBIL 600 - 649 7.60% 7.70%
CIBIL < 600 7.70% 7.80%
CIBIL 101-200 OR NTC 7.40% NA
More than 1 Cr & Up to Rs. 3 Crs CIBIL 650 - 699 7.40% 7.50%
CIBIL 600 - 649 7.70% 7.80%
CIBIL < 600 7.70% 7.80%
More than Rs. 3 Crs & upto Rs 15 Cr CIBIL 650 - 699 7.50% 7.60%
CIBIL 600 - 649 7.70% 7.80%
CIBIL < 600 7.80% 7.90%
Special ROI under Advantage plus Scheme (Housing Loan Component)
HL component should be Greater than or Equal to 25 Lakhs CIBIL >= 750 6.70% 6.70%
Product Name Interest Type Loan Slab ROI
My Choice –Sure Fixed
Apna Ghar (PMAY-CLSS)- Sure Fixed
Fixed for Entire loan tenure Upto Rs.50 lacs 10.05%
Above Rs.50 lacs & upto Rs.5 crs 10.15%
Product Name CIBIL Score Loan Slab ROI
New Face Lift 700 & above Upto Rs.15 Crs 7.25%
Below 700 7.75%
"Rewriting facility available for housing loans. Contact Area Office".
ROI updated as on 10.01.2022 – LHPLR – 14.70
* 1)  In case of joints applicants, CIBIL score of applicant having highest score will be considered
* 2) Sum of Housing loan component and Non Housing loan component should not exceeds 10 crs. under Advantage Plus Special Offer Scheme

Maximum Loan Amount and Repayment Period

Loan to Property Cost

  • 90% of Property value for loan upto Rs.30 lakh
  • 80% of Property value for loan more than Rs. 30 lakh and upto Rs.75 lakh
  • 75% of Property value for loan above Rs.75 lakh

Maximum repayment period

  • For salaried upto 30 years
  • For self-employed upto 20 years

The above is subject to the repaying capacity and age of the applicant.


Plan your Home Loan using our Calculator. Know the Home loan amount you are eligible for and the EMI against your loan.

EMI Calculator Loan Eligibility calculator


Home Loan Documents

KYC documents:

  • Pan Card
  • Aadhaar Card
  • For NRIs, passport is required
  • Proof of residence

Income documents:

  • Salary slips and Form No.16 for salaried
  • Last 3 years income tax returns along with financials for self-employed or professionals
  • Bank statements for last 6 to12 months

Property Documents (incase property is identified):

  • Proof of ownership of property
  • In case of flats, allotment letter of builder/society
  • Up to date tax paid receipt

Disclaimer: All loans are sanctioned at the sole discretion of LIC HFL.

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