Pradhan Mantri of India has come up with a helping hand to the residents of India to help them own their dream home. Pradhan Mantri Yojana is a scheme launched to offer subsidy over the interest charged on the home loan. For this, an individual has to meet certain eligibility criteria and need to apply for the home loan from the reliable bank or non-banking financial companies. Bajaj Finserv offers the best home loan and provides assurance on availing interest amount benefit under this scheme once you meet eligibility criteria.
This scheme provides an interest subsidy between 3% to 4% on the total loan for a home for the lower and middle-income segment people. Before you apply for this scheme, it is necessary to be clear on the process, different subsidies offered and other factors to avail it. The Process to Avail Home Loan Interest Subsidy Under PMAY Scheme Pradhan Mantri Yojana comes up with a simple application process. Once you have decided on a home to purchase, submit the documents like declaration form, Aadhaar card, PAN card, income proof along with the property document that you wish to purchase. It is best to check if the lender has an MoU with the NHB or HUDCO. Just download the application form available over the official website of Pradhan Mantri Awas Yojana website. Complete the form and submit at the relevant nearest office or can apply online. Once the home loan is approved by the lender and disbursed, the lender will claim the subsidy from the NHB and that will be credited into your loan account. Additional Read: What Essential Things to Know About PMAY?
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AuthorAman Khanna is an experienced financial advisor who is well known for his ability to foretell the market trends as well as for his financial astuteness. He has an MBA in finance from Toronto University as well as years of experience delivering seminars on sound financial practices and debt management. |