How much central govt housing loan scheme

What is PMAY scheme amount?

PMAY Eligibility & Subsidy 2022 The maximum eligible amount for PMAY subsidy ranges from , 2.30 Lakh to , 2.67 Lakh.

How much home loan can central government employees get?

As a government employee, you were allowed to take Rs. 7.5 lakh of HBA earlier. However, as per the policy changes, you can now avail of a loan of up to Rs. 25 lakh as HBA.

How can I get 2.67 lakh subsidy?

2.67 lakh. Subsidy can be availed on home loans that were approved on or after 1 January 2017. Applicants who fall under MIG ” I category can avail subsidy at the rate of 4% with the maximum loan amount being Rs. 9 lakh.

What is the maximum loan amount for PMAY?

The interest subsidy is limited up to a maximum loan amount of ,6 lakh. The scheme was extended to include the Middle Income Groups (MIG) in 2017.

How is subsidy amount calculated?

The subsidy amount is taken as the Net Present Value (NPV) of the interest subsidy amount. NPV is calculated at a discount rate of 9%.

Which bank is best for PMAY loan?

Axis Bank. IDFC First Bank. Bandhan Bank. Bank of India. HDFC Bank. IDBI Bank. Punjab National Bank. Canara Bank.

How much loan do government employees get?

You can borrow up to Rs. 25 lakhs under the facility of personal loan for government employees.

Which home loan is best for govt employees?

SBI has launched SBI Privilege Home Loan exclusively for government employees. Individuals who are employees of Central or State Government which includes PSBs, PSUs of Central Government and other individuals with pensionable service are eligible to apply for this home loan.

How do government employees get home loans?

For central government and state government employees, the House Building Advance (HBA) scheme provides a home loan for the construction of a new home. Previously, government employees were entitled to take an HBA of up to INR 7.5 lacs. However, due to recent policy changes, you can now get a loan of up to INR 25 lacs.

Is PMAY applicable in 2021?

Under the PMAY scheme, potential homeowners can avail subsidy on home loans to either build, buy, renovate or make any kind of extensions. However, if you want to avail the benefits of Pradhan Mantri Awas Yojana scheme, check out the PMAY eligibility criteria before you apply for PMAY 2021-22.

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