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Pradhan Mantri Awas Yojana

Pradhan MantriAwasYojana (PMAY) is a flagship housing scheme launched by the Government of India with the primary goal of providing affordable housing to all eligible urban and rural poor. The scheme aims to construct 2 crore houses by 2022, ensuring that every family in India has a pucca house with basic amenities such as water supply, sanitation, and electricity.

The PMAY scheme is divided into two parts: PMAY (Urban) for urban areas and PMAY (Gramin) for rural areas. It focuses on affordable housing, financial inclusion, social empowerment, and sustainable urban development.

Overview

Purchase / Construction / Renovation of House property

Features & Facilities

  • Easy repayment : upto 30 years
  • Amount of Loan : As per eligibility
  • Low margin requirement
  • Low processing charges

Eligibility

  • Individuals including NRIs, having regular income
  • Age of the applicant shall not be more than 55 years
  • Resident of notified statutory town and belong to either Economically weaker section or Low Income group
  • The carpet area of house being constructed or being enhanced should be upto 30 Sq.m (Carpet Area) for economically weaker section and 60 Sq.m (Carpet Area) for low income groups and for MIG-1 Carpet area upto 160.Sq. mtr. And for MIG-2 carpet area upto 200.00 Sq. Mtr.
  • For Economically weaker section, annual house hold income shall be upto Rs.3 lakhs
  • For Low Income group, annual house hold income shall be upto Rs.6 lakhs
  • For MIG-1, annual house hold income shall be above Rs.6 and upto 12 lakhs.
  • For MIG-2, annual house hold income shall be above Rs.12 and upto 18 lakhs

Rates & Others

  • Click HERE for more details about Deposit interest rates& Service charges.
  • For more quries please contact to your nearest branch.
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