Pradhan Mantri Awas Yojna FAQ PDF
Pradhan Mantri Awas Yojna FAQ PDF
Pradhan Mantri Awas Yojna FAQ PDF
Ans. The objective of the scheme is to provide financial assistance to the low income
group category viz. Economically Weaker Sections(EWS) and Low Income Group(LIG) for
purchasing / construction of residential units under affordable housing scheme.
Ans. The applicants from Urban area belonging to EWS/LIG categories intending for
acquisition / construction of residential units are eligible borrowers. The list of eligibility
parameters are as under :
3. What is the maximum loan amount that can be availed under the said scheme ?
Ans. The maximum and minimum loan amount would be in line with the extant Home Loan
scheme of the Bank. However, subsidy shall be available for loan up to first ` 6 lakh.
Ans. The Interest subsidy to be computed based on Net Present Value(NPV) method to be
discounted @9% based on the following parameters :
Loan amount up to INR 6 lakhs i.e. actual loan amount or INR 6 lakhs, whichever is lower.
Loan tenor to be maximum of 15 yrs. i.e. actual tenor or 15 years, whichever is lower.
Irrespective of rate of interest charged, the subsidy would be computed for interest up to
6.5% p.a.
5. Is there any Nodal agency being appointed for this scheme ?
Ans. National Housing Bank(NHB) and Housing and Urban Development Corporation
(HUDCO)have been identified as Central Nodal Agencies(CNAs) by Ministry of Housing and
Urban Poverty Alleviation(MoHUPA) for the purpose of implementation of this scheme. As a
part of the implementation process, every Primary Lending Institution (PLI) needs to Tie up
with one of these CNAs. Accordingly, IDBI Bank has tied up NHB for implementation of the
said scheme.
6. Whether the customers required to submit the claim for availing interest subsidy directly to
MoHUPA / NHB ?
Ans. Customers need not have to submit the claim neither to NHB nor to MoHUPA. IDBI Bank
on behalf of the customers would submit the claim to NHB for availing the interest subsidy.
Ans. The interest subsidy would be paid by the Govt. which would be credited in the loan
account upfront for lowering the EMI burden for the borrowers.
Ans. The rate of interest to be applicable as per the extant pricing structure of the standard
Home loan scheme. However, the interest subsidy would be computed @ 6.5%.
Ans. The maximum loan tenor is in line with the standard Home loan schemes of the bank i.e.
maximum 30 yrs. for salaried and 20 yrs. for SEP and SENP.
Ans. There is no loan limit under this scheme. However, interest subsidy would be computed
only on the first ` 6 lakhs.
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