Pradhan Mantri Awas Yojana Home Loan Interest Rates/Subsidy 2017

Pradhan Mantri Awas Yojana
January 7, 2017 | Last Modified: January 19, 2017 at 1:55 pm | Category: Central Government, Pradhan Mantri Yojana

There is a very good news for the home seekers, central government has announced even more subsidy in home loan interest rates under Pradhan Mantri Awas Yojana. Prime Minister Narendra Modi announced the interest subsidy on housing loans taken under Pradhan Mantri Awas Yojana during his speech to the nation on 31st December 2016.

The amount of home loan under the scheme has been increased by double to 12 Lakh and the interest subsidy would now be up to 4%. Below is the interest subsidy comparison of earlier PMAY scheme and revised scheme.

PMAY Home Loans Interest Rates/Subsidy for 2017

Subsidies Explained Earlier Scheme (2015) Revised Scheme (2017) – Additions
Loan Amount Up to Rs. 6 Lakh Up to Rs. 9 Lakh Up to Rs. 12 Lakh
Eligibility Criteria EWS (Annual income of Up to Rs. 3 Lakh) and LIG (Income of up to Rs. 6 Lakh per annum). Women to be the co-owner along with the beneficiary. Income criteria not defined, Middle Income Group has been included which will result in increased number of borrowers.
Subsidy Calculation for a loan tenure of up to 15 years 6.5% 4% 3%
Subsidy Amount Rs. 2.2 Lakh for a loan of 6 lakh Rs. 1.94 Lakh for a loan of Rs 9 Lakh Rs. 1.91 Lakh for a loan of Rs. 12 Lakh
Changes Likely in EMI’s
Interest Rate 10.5% 8.5%
Loan Amount Rs. 12 Lakh Rs. 12 Lakh
Amount Eligible for Subsidy Rs. 6 Lakh Rs. 12 Lakh
Subsidy Rate 6.5% 3%
Subsidy Amount 2.2 Lakh 1.9 Lakh
Effective EMI for 15 years without subsidy Rs. 13264 Rs. 11,817
Effective EMI for 15 years with subsidy Rs. 10,428 Rs. 9,931

The increased loan amount under the PM Awas Yojana will significantly reduce the monthly installments. The central government instead of 6.5% subsidy on loans up to Rs. 6 Lakh, now providing 4% subsidy on loans up to Rs. 9 Lakh and 3% for home loans up to Rs. 12 Lakh. The loans under PMAY can be availed for a maximum tenure of 15 years. The government has also introduced two new middle income group categories under the scheme.

At present, the home loans are available from banks and non banking financing companies at interest rates of about 9%. After the interest subvention of 4%, the effective interest rate would fall to 5% which will result in significant reduction in EMI’s.

PMAY Home Loan Interest Rate Calculation

For example, if an individual takes loan of Rs 9 lakh for a 15 years, 4% lower interest rate would save him Rs. 2,011 in EMI every month as his EMI will come down from Rs 9,128 to Rs 7,117. Similarly, on a loan of Rs 12 lakh will save Rs 2,044 in EMI on account of the 3 per cent lower interest rate.

Online Applications for Pradhan Mantri Awas Yojana – Urban are being invited through CSC’s and official website at pmaymis.gov.in.

The central government is also providing interest subvention of 3% on home loans taken in 2017 for new home construction or renovation under PM Awas Yojana – Gramin. Find the complete details of PMAY-G home loan scheme 2017 announced by Narendra Modi.

80 comments on “Pradhan Mantri Awas Yojana Home Loan Interest Rates/Subsidy 2017

  1. Rajneesh Choudhary says:

    Sir.humre paas house nahi hai hum 10 saal se delhi me ratha hu rent me aap se request hai ki muge vhi makhan
    Sorry sir …..

  2. Ghanshyam singh says:

    Yeah lon plZ

  3. Radheshyam parmar says:

    सर इस योजना का फायदा नगर सिमा मे रहने वावे पटटा धारि को मिलेगा या नही बताऐ।

  4. rajib mandal says:

    pm sir mere pas awas nahi he, ghar magne se deta nahi aap kuch kijiye sir

  5. ravindra says:

    Home Loan

  6. ankush D says:

    dont relay on indian government. however i tried this scheme from 2014 to till date, and i didnt get any response from my village panchayat people & taluka’s people also so just ignore the FALTU scheme by indian government.we didnt expect good & revolutionary idea from today’s & last one government. THEY ALL ARE SAME PEOPLE FROM SAME CATEGORY.I AM VERY VERY DISAPPOINTED WHY I WAS BORN IN THIS FALTU PEOPLE INSTEAD OF OTHER COUNTRY.

  7. Brhmanand lohar says:

    muje aavash yojna ka labh nahi Mila he me bpl me hu aakhir

  8. Brhmanand lohar says:

    muje labh nahi Mila he ji sir

  9. arun kumar says:

    Mere pas koi income ka sadhan nahi hai, mai loan Kaiser let sakta hu ?

  10. रोहित राजपूत says:

    सर, मुझे बिजनेस करने और आवास के लिये लोन चाहिये था कृपया आपसे निवेदन करता हूँ ! मेरा नाम:- रोहित राजपूत , पता :- ग्राम-पनवाडी पोस्ट-पनवाडी जिला- महोबा उत्तर प्रदेश

  11. रोहित राजपूत says:

    सर, मुझे बिजनेस करने और आवास के लिये लोन चाहिये था कृपया आपसे निवेदन करता हूँ ! मेरा नाम:- रोहित राजपूत , पता :- ग्राम-पनवाडी पोस्ट-पनवाडी जिला- महोबा उत्तर प्रदेश

  12. DEEPAK KUMAR says:

    sir,
    my name is DEEPAK KUMAR & my father’s name nand kishor mandal….From 1990 …my lives in delhi ..but he has not personal resident place …i request u that help to us…

    Thank’s u
    mob:-9871388405

  13. mohd zubair says:

    Mujhe apna ghr lena h uske liye lon ki zruret h halp me mera name mohd jubair h mera adres h bhumya ka pul meerut utre pardesh mobil no h 8273539854

  14. Salim khan says:

    Sir i built my house,
    please give me a loan…!!

  15. Rajesh kumar says:

    Mera name rajesh kumar hai. Mujko apne liye flat lena hai. I am requesting you to give me a loan with pmay scheme. Thanks
    Address manimajra chandigarh

  16. azharul islam says:

    Mera name azharul islam meri lone ki jaruri he deneki liae ahi nambar pare coll ki jiae 9647108603

  17. Nisha says:

    Mje bhi ghr lena hai plzzz yha goa me ghr ke daam kam kro duble betroom ka ret hai. Sisty lakh. Or rent se hai.15000

  18. pradeep haradan bhattachary says:

    mera room nehihe mene room ke liay avedhan kiay ta. mera hoanehi to moje room kesemilega. sir

  19. rameshwar barar says:

    Rameshwar ba

  20. rameshwar barar says:

    To
    Sir
    mujhe awas ka labh nahi mil raha kya karu kuchh informtion dijiy
    pleas helf sir

  21. rameshwar barar says:

    ples sir
    mera vellage karara ganj post ganj karara thana Nowong distt-chhatarpur mp pin cod 471201

  22. Biswajit gogoi says:

    Sir mujhe business karne k liye loan chahiye tha mujhe PMGAY kese milega mera naam biswajit gogoi village deobeel- II p.o/p.s- namsai district- namsai arunachal pradesh my contact no.- 8258828023 thank you sir…

  23. Vivek kumar says:

    Sir pmay rural ke liye kab form bhra jayega

  24. AMIT says:

    भाई मै सभी को बता दु कोई भी योजना लागू होता है तो केवल दिखावा योजना लागू होता है और जनता उसे सुन कर लक्की डॉ समझकर खेलती है और किसी को लाभ नहीं मिलता आप सभी लोगो ने इतना रिक्वेस्ट डाला है किसी को भी योजना से लाभ मिला होतो बताये ये जो भी योजना लागु करते है तो क्यों नहीं बोलते है कि ये डाकोमेंट्स लगेगा आप बैक पे ये डाकोमेंट्स लेके जाये और कोई असुबिधा होने पर हमारे टोल फ्री न० पर संपर्क करे या अपनी डाकोमेंट्स आनलाइन कराए फोन जाने पर बैंक जाकर लोन ले

    अतः आप सब हमें बिरोधी पार्टी से न समझे मै भी इसी पार्टी का कार्यकरता हु

  25. Vaibhavi says:

    21 sal se hmare pas khudka ghar nahi hai agar ham kisi k pas ghre kharide To kya hame aapki yojana k antargat 2 lakh sabsidi milegi

  26. Prema v says:

    My name is Prema,I have paradhan manthri awas joyana scheme housing loan,l have already land at Coimbatore district kinathukadavu village.pls arrange and support me housing contrution with low interest sir

  27. shankar bhagwat says:

    Sir pls muje chahiye home loan

  28. ajay kumar says:

    kya sarkari karmi lo bhi pmay se loan molega

  29. kulwant singh says:

    Sir asi 20 sal se rent pe reh rahe ha please hme apna ghar milega loan pe hi mil jai

  30. DHAREPPA K YADRANVI says:

    Pls give me loan pls call me 9916902583

  31. ERRA SHRINU says:

    Hi sir please give my House Loans my.SC.

  32. ERRA SHRINU says:

    Away on Home.Lons

  33. Anil Kumar agrawal says:

    GM pm sir may gayer ka liya parasan hu pls help because my salary bahut kam hai his as shirt ghar karcha he chal ta hai or mana kuch jod bhi nahi raka jo kuch advance say la lu pls muja loan per ak house dila da his sa may her month install me too da saku pls very very help

  34. Anil Kumar agrawal says:

    Pls pm sir help for house because I medial class family

  35. parmod says:

    sir humko iska fayda kha se hoga plz mughe btay

  36. Amol g patle says:

    sir ..mere paas rahane ke liye ghar nahi hai sir muze pradhan mantri awas yojneka labh milna chahiye jarurat ko pura karna apka dharam hai sir to plz plz muze is yojne ka la uthane ka mouka do sri meri ap se rek……. hai sir p.m sir ko mera ,,ap ka .Amol g patle at wagbodhi th mouda dist nagpur ..mo 8888835813

  37. rajesh bhardwaj says:

    Can I apply loan 350000/- under this yojna. And how can I know about my installment cost .

  38. naim says:

    Loan chahiye to sampark kare Bhopal city me ya Bhopal se 100km tak loan milega 7471117267

  39. vinod says:

    Mujhe home loan chahiye

  40. Sanjay Kumar says:

    Yes sir es yojna ka labh kis tarah se mil payega

  41. NILESH PARMAR says:

    Respected sir,

    I already applied and confirm for Mukhya mantri awas yojana from Vemali, vadodara, gujarat under urban development/vuda, i very well know after visit on site, all work now finished and only paper work pending but not distribute house to anyone. now i am paying EMI per month 8000 rs. and also has to pay every month rent for current house so i am face so much financial problem.
    i just request to you please if all work done than release our house so at least our family move on their.

  42. shivam sikarwar says:

    modi g yojana to sahi hai magar iska bade logo ke liye sahi hai modi g koi aisa app karo jisse sikaayat likhakar sun vae honi chhahi hai isse greeb log jyada phaayada lege

    POOR LOG HELP HIM

  43. chandan Kumar says:

    Sir mei chandan Kumar hoon noida mei rahta hai rahne ke liye ghar nhi hai noida sec-9 mei hoon kiraye par

  44. GANESH PAWADE says:

    its interesting

    i will apply for this scheme…

  45. Mahendra says:

    If any Body need this yojana in mumbai please call me on 8828300426 i will help u for the same…

  46. buddhram prajaat says:

    Sir mujhe bhi padhi ke liye lone ki jrurat h

  47. […] Pradhan Mantri Awas Yojana Home Loan Interest Rates/Subsidy 2017 […]

  48. motula dutta says:

    Sar mujhe assay ke lia lon chahia vill Barmosiya po Shahargram PS mheshpur dist Pakur mob no 9102922614

  49. vikas says:

    SIR I have two daughter. One daughter is suffering from very serious disease and I have no better job and I have no so money that I canI am unable to treat my daughter please help me.

  50. pinky bin says:

    sir namaste.mujhe aap se ek request hain k aap mujhe thora sa help kare khudka ghar nahi hai mera mein aapna ghar banana chahati hoon..or mujhe help karne wala koi v nahi hai plz sir aap mujhe help Karen..mein Bengali hoon mujh Hindi thik se nahi aati…sorry sir.

  51. Jitendra Kumar s/o Jashbir Singh says:

    Jai hind modi ji ye yojna to sahi h hame kon dega ye to bade logo ke liye hoti h na ki ham garib aadmi ke liye aap garibo ke bare me sochna

  52. कपूर निषाद says:

    नमस्ते सर मेरा नाम कपूर निषाद है मैं उत्तर प्रदेश जिला बस्ती का रहने वाला हूं प्लीज मुझे घर बनाने के लिए लोन चाहिए और आपसे हाथ जोड़कर रिक्वेस्ट है कि प्लीज हमारी मदद करें mera contact number 9811785938

  53. urmila sharma says:

    Sir namste sir mai Gurgaon se urmila sharma sir humare pass24 year se ghar nahi hai sir humne jese tese kar ke plot to le leya hai mager ghar nahi bana paa rahe hai bacho ko padhane ke badd ghar bhe mushkil se chalta hai mere pati welder hai kabhe kamm hota hai to kabhe nahi kuch to log rupayy kha jate hai hum ghar nahi bana paa rahe sir is leye hume loan chahiye sir please help me urmila sharma my no.9467702976

  54. Balbodi Ahirwar says:

    नमस्ते सरमुझे बिजनेस करने के लिये लोन चाहिये था कृपया आपसे निवेदन करता हूँ ! मेरा नाम:-Balbodi Ahirwar Chhatarpur mp 9575073906

  55. jeet Kumar jeetu says:

    Government se rq h merI ke muje ghar lena aur muje kuch business karna nhi mere pass khud ka ghar nhi koi jamin h isliye rq h ki muje loan diya jaaye or m bhi desh me aage chal saku name jeet Kumar jeetu Chandpur bijnor uttar pardesh pin 246736 mobile my contect no +919927555959

  56. Abdus samad says:

    Namaskar. Me up meerut me rehne wala hoo ham 18 saal se rent pe rehte hai aapse gujarish hai ki aap name 1 makan dene ka kast kare my contact number 8430593269

  57. […] increase in the loan amount under PMAY from 6 lakh to 12 Lakh. Read the complete details about PMAY home loan subsidy / interest rates 2017 which were announced by Narendra Modi on 31st December […]

  58. ravi kumar says:

    Sir muje home Lone chahiye mera phone no.7053981177

  59. Sumita soni says:

    Sir mere pas ghar nahi he me chhindwara me kiraye se rahti hu mujhe ghar chahiye ples kuch kijiye sir

  60. ChaOng Simai says:

    I would like to take a lhousing loan under PMWY but amounting upto 12lakhs. So my question here is can i get full amount at a time and how much time it will tame to pass the document verifications. Shall i get the amount??

  61. MAHADEB Roy says:

    Sir
    Make home loner bebosta kore den. Ami handicapped ami dokan kori

  62. jyoti ningwal says:

    Hello
    I respect you sir
    mere husband tsr (IR) me hai
    hamari monthly salary bhut kam hai sir
    hum abhi mp se tripura me reh reh rhe.
    main chahti hu ki mera bhi apna ek ghar ho but yeh possible ho payega ya nhi..
    aapki aawas yojna ke tehat main aapse help mang rhi hu..
    hum yeh loan chahte hai…
    plz aapki advice dijiye ki hum yeh loan kaise le sakte hai..
    Thank you sir

  63. Basant Kumar says:

    Sir muje bhi Jankari chahiye kaise from bhara jata hai.

  64. banti Parihar says:

    sir mujhe pashupalan PR loan chahiye krapya mujhe loan ki jankari batlaye

    thanks

  65. Dinesh singh rawat says:

    Sir I had taken a Home loan amount of Rs 1500000/- from HDFC Dehradun in the year 2015 and i have been regularly paying the

  66. वर्धन नांद्रेकर says:

    अभि तक कोई बँक वाला बोलते हे कि कोई प्रस्ताव आया नहीं, वो बस बोलते हे

  67. Bhanjipatel says:

    Hom lon

  68. shubham khandelwal says:

    Sir me bi rent pr rehre h toh abi hama ra ghar chai ye toh hm ye loan chai ye sir ..plzzzz hmm bhot garib h sir ..plzzz kuch madht kar do ap ..modi ji ..ap sab ka acha kare ho toh hama bi ..kuch acha kar do ..🙏🙏🙏🙏🙏🙏🙏🙏🙏

  69. Ram Niwas Soni says:

    I want to purchase a house. What is the income ceiling under Pradhan Mantary awash yojna.

  70. hukum dhamne says:

    sir mere pass 1200 sq.fit ka plat hai .mujhe makan banane k liye pmry awas yojna se loan chahiye with subsidy 7828189122

  71. hukum dhamne says:

    sir mere pass 1200 sq. fit ka plat hai mujhe makaan banana hai
    kaha jana padega ,, kisase milna hoga
    loan chahiye with subsidy
    7828189122

  72. vikas yadav says:

    Sir i want home loan subsidy pl help me ,my no. 9327683861

  73. Sudarshan subhash pardhi says:

    Sir mai khudka business karna cahata hun muze Lona cahiye piz sir help me

  74. Pradeep sharma says:

    Sir mujhe home loan chahiye our main apni location m home lena chahta hu sir pleasr help

  75. Ajaykumar m mistry says:

    Hello
    I respect you sir
    me privet com.kar raha hu.
    hamari monthly salary bhut kam hai sir
    hum abhi surat bardoli me rent per rah rahe he.
    main chahta hu ki mera bhi apna ek ghar ho but yeh possible ho payega ya nhi..
    aapki aawas yojna ke tehat main aapse help mang rhi hu..
    hum yeh loan chahte hai…
    plz aapki advice dijiye ki hum yeh loan kaise le sakte hai..
    Mine ek flat book kiya he.Rs 800000/-.kya muje subsiidi ka labh milega???to please muje mere email kare ya phone kare.mera phon no 8460775265 he
    Thank you sir
    Ajay mistry

  76. vakas pandey says:

    Dear sir
    Pradhan mantri lons subsidy ka labh kab milega bank me bolte hai abhi yesa koi askim nhi aaya
    Please help me

  77. Nitin Shukla says:

    Sir mera naam Nitin Shukla hai. Maine February 2017 main 13 lakhs ka loan liya hai plot purchase with construction ke liye. Sir meri salary 2.44 lakhs per annum hai. Main yeh janana chahta hu ki kya mujhe PM awas yojna ke tahat subsidy milegi.

  78. Khyoda Tada says:

    Dear p.m of India
    Sir mei bahot garib paribar se hon
    Mien arunachal Pradesh itanagar,distt papum pare se ho
    Mei aur Mera paribar 7 saal se ek jopri mai rahta hai apse bintee hai ki aap Hume madad karey…
    Home loan ki jarey.

    Apka Khyoda Tada
    Phone no 9402929229

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