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The IIFL Home Loans PMAY subsidy calculator is the best online self-help tool to estimate the interest subsidy on a home loan. With the help of the free tool, you will be able to understand how much loan amount you are eligible for and what is monthly instalment against your loan.
Once you are applying for the CLSS subsidy benefit on your home loan product, it is crucial to check which category you fall into (EWS or LIG).
To check what proportion of savings you will derive from the CLSS under Pradhan Mantri Awas Yojana Home Loan, you'll need to make use of the PMAY EMI calculator. It will assist you in understanding your loan liability as a borrower and, therefore, the monthly EMIs for the rate of interest as applicable.
Factors That Affect PMAY Subsidy:
Following are the factors that impact the PMAY Subsidy:
As the subsidy is calculated on 1st 6 lakhs of disbursement amount, hence, in case the loan amount is below 6 lakhs, subsidy would be proportionately lower
2. Loan Tenure:
Subsidy amount is dependant on tenure
In case loan amount is less than 6 lakh Rupees and/or tenure is less than 20 years, subsidy would be calculated proportionately. Hence, would be lower.
How to use our PMAY Subsidy Calculator?
Effective Interest Rate
Net Reduction in EMI
Now peacefully live with their children, and still work with the same hard work and dedication to make things even better for their family. Thank you Pradhan Mantri Awas Yojana & IIFL Home Loans for making our dream come true
Gratitude to Pradhan Mantri ji for starting such a scheme through which I could ensure a safe future for my children. Now I will save for their education and marriage
They have moved to their new home, where they now live. They are now saving for their retirement. With Pradhan Mantri Awas Yojana, we could buy our own home. This is nothing short of a dream come true.
Sukhwinder now owns home in Chandigarh, and lives their happily with his wife and child. It is a great feeling to own a home and save for the future of your children. We will always be thankful to Pradhan Mantri ji for this.
Post completion of process and successful verification of documents they were handed over the sanction letter and their loan was processed. They immediately moved to their newly bought house. Now, they are happily living and enjoying the ownership of their property.
Family finally decided to explore the option to buy their a home. Soon, they visited IIFL Home Loans branch near their home, where they got to know about the Credit Linked Subsidy Scheme under Pradhan Mantri Awas Yojana
Extremely happy and proud of their decision to move out of the rented accommodation, and are thankful to Pradhan Mantri ji for running the scheme that benefits people like them. It is an amazing feeling to live in your own home. We feel truly independent and content
Now more focused on having a better living, than to worry about the incremental rent from time to time. It is a dream come true. Better late then never. Thank you Pradhan Mantri Awas Yojana and IIFL Home Loans
I am immensely grateful to Pradhan Mantri ji and IIFL Home Loans for helping me fulfill my dream of buying a home for my family
The rebate on EMI received due to CLSS subsidy received helped him save for the future of his children. Pradhan Mantri ji and IIFL Home Loans has helped us buy a new home where we live with dignity
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For the last 17 years, Mohd. Jahid who owns a tyre repair shop has dreamed about owning a home for himself and his family of six. He reached out to multiple places for a loan, but his efforts were to no avail. After a long wait, he got his flat in the DDA allotment.
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Meet the visionaries who conceived the idea of creating a handbook to guide all stakeholders on the path to sustainable affordable development. Understand their perspective as they explain why sustainable affordable housing is the need of the hour.
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eKutumb is a series of Webisodes & Podcasts, which acts as a knowledge sharing platform fostering green, affordable and sustainable building development in India. With a vision of sustainable living for everyone, it is an impetus to institute green technology, and environment