How to apply for a Pradhan Mantri Awas Yojana Home Loan? How to get a PMAY Home Loan?

Pradhan Mantri Awas Yojana Home Loan: The Pradhan Mantri Awas Yojana (PMAY) is a flagship scheme of the Government of India. The objective of this scheme is to provide affordable housing to economically weaker sections, low-income groups (LIG), and middle-income groups (MIG) families. Under this scheme, eligible beneficiaries are provided with interest subsidies on home loans so that they can easily build or buy their dream home.

How to apply for a Pradhan Mantri Awas Yojana Home Loan?

The process of applying for a home loan under PMAY is very simple. You can apply both online and offline.

Pradhan Mantri Awas Yojana Home Loan Online Apply

1. Go to the official PMAY website: https://pmaymis.gov.in/
2. On the homepage, go to the ‘Citizen Assessment’ section and select the option according to your category, such as ‘For Slum Dwellers’ or ‘Benefits under other 3 components’.
3. Then, enter your Aadhaar number and click on the ‘Check’ button. Applying without an Aadhaar number is not possible.
4. Next, fill out the application form. Enter your personal details, contact information, family member details, income details, etc., accurately.
5. Then, enter the given captcha code and click on the ‘Save’ button.
6. Review all the details and submit the application. Upon successful submission, you will receive an Application ID, which you should save for future reference.

Pradhan Mantri Awas Yojana Home Loan Offline Apply

1. Visit your nearest state government-run Common Service Center (CSC).
2. Fill out the PMAY application form available at the CSC.
3. Then, pay the fee of ₹25 + GST. Note that no private centers or banks accept offline PMAY applications.

Eligibility for Pradhan Mantri Awas Yojana Home Loan

• Income Criteria: The government has set different income limits for all categories. Beneficiaries are selected based on the eligibility criteria issued by the government.
  • EWS (Economically Weaker Section): Annual income up to ₹3 lakh.
  • LIG (Low Income Group): Annual income from ₹3 lakh to ₹6 lakh.
  • MIG I (Middle Income Group I): Annual income from ₹6 lakh to ₹12 lakh.
  • MIG II (Middle Income Group II): Annual income from ₹12 lakh to ₹18 lakh.
• EWS (Economically Weaker Section): Annual income up to ₹3 lakh.
• LIG (Low Income Group): Annual income from ₹3 lakh to ₹6 lakh.
• MIG I (Middle Income Group I): Annual income from ₹6 lakh to ₹12 lakh.
• MIG II (Middle Income Group II): Annual income from ₹12 lakh to ₹18 lakh.
• The applicant or any member of their family should not own a permanent house in India.
• The applicant should not have previously availed of any government housing scheme.

Pradhan Mantri Awas Yojana Home Loan Doccuments

• Identity Proof: Aadhaar card, PAN card, Voter ID card, etc.
• Address Proof: Aadhaar card, passport, electricity/water bill, etc.
• For salaried individuals: Salary slip or salary certificate.
• For self-employed or business owners: Income Tax Return or Form 16.
• Bank Statement: Bank account statement for the last 6 months.
• Property Documents: Property allotment letter, construction agreement, or sale agreement.
• Affidavit: To certify that the applicant or any member of their family does not own a permanent house anywhere in India.

What to do after applying for a PMAY home loan?

1. Contact a lender: After submitting your application, contact any eligible bank or housing finance company that offers home loans under PMAY.
2. Complete the loan application process: Fill out the loan application form according to the bank’s requirements. Submit the necessary documents and complete the loan approval process.
3. Avail the interest subsidy: After loan approval, the bank will process your application for the Credit Linked Subsidy Scheme (CLSS) under PMAY. The subsidy amount will be credited directly to your loan account.

Pradhan Mantri Awas Yojana Home Loan Last Date

Before applying for a PMAY home loan, make sure you meet all the eligibility criteria. Also, keep all the necessary documents ready. Only then will you be able to avail the benefits of this scheme.