- People earning between 6-18 lakh rupees annually get benefit
- Government decided to extend the subsidy link home loan scheme by one year
- new Delhi. The Central Government (Government of India) has not increased the subsidy link home loan scheme Pradhan Mantri Awas Yojana (PMAY) limit for one year. Now it can be availed by March 2021. Only those whose annual income is between 6-18 lakh rupees can avail this scheme. The government gives a discount of Rs 2.67 lakh under this scheme. State Bank of India, the country’s largest bank, has been informed that 10 million people have benefited from this scheme so far. Let us also tell you how and who can benefit from this scheme.Big news for employed people, Govt will change 5-year rule of Gratuity!
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Apply in this way – Apply for home loan in banks and ask for subsidy.
– If you are eligible for subsidy, the application will be sent to the Central Nodal Agency.
– When the application is approved, the nodal agency will send the subsidized amount to the bank and will come to your account. This will reduce your total loan amount.
– The EMI will be fixed on this reduced amount
– If the loan amount is more than the prescribed limit to avail the subsidy, then the additional amount will have to be paid at the current rate.Byju’s announcement to give 4 thousand jobs among Coronavirus, know who will hire the company
Who will get the benefit, who does not
– According to the rules, there should not be a pucca house anywhere in India in the name of any family member.
– No family member has previously taken advantage of any government-initiated housing scheme.
– Both single and joint ownership are allowed in case of a married couple, but only 1 subsidy will be available for both options.
Economically, only those from the vicar section, lower income group and middle income group will be able to take advantage of the scheme.
Under the scheme, the beneficiaries will be allowed to buy or construct a new residential property only.Petrol and Diesel price hiked for 20 consecutive days; prices skyrocketed
Who will get how much subsidy
– Those with an annual income of up to Rs 6 lakh will get a credit linked subsidy of 6.5% on a loan of Rs 6 lakh. The loan should be for a maximum period of 20 years.
– Those earning up to Rs. 12 lakhs will get 4% interest subsidy on loans up to Rs. 9 lakhs. The loan must be for a maximum period of 20 years.
3 percent interest subsidy will be given on loans up to Rs 12 lakh to people with an annual income of up to Rs 18 lakh. The loan should be for a maximum period of 20 years.
