×
  • Home
  • Calculator
  • News
  • Blog
  • About
  • Contact

PMAY Subsidy Calculator - Check your PMAY Eligibility

Use the PMAY Subsidy Calculator to instantly check your PMAY eligibility and calculate your home loan interest subsidy under the Pradhan Mantri Awas Yojana scheme.

With our PMAY Calculator, you can also check your reduced home loan EMI after availing of the Pradhan Mantri Awas Yojana subsidy.

How to use PMAY calculator?

Follow these steps to check your PMAY eligibility & PMAY subsidy amount:

  1. Enter your annual family income.
  2. Provide your exact housing loan amount.
  3. Select your home loan interest rate.
  4. Enter a home loan tenor suitable for you to repay the borrowed loan.
  5. Fill in your new house carpet area in square meters.
  6. Select Yes or No if it is your first pucca house or not.

That’s it. Our Pradhan Mantri Awas Yojana eligibility calculator will instantly display whether you are eligible for the PMAY subsidy scheme. It’ll also show your home loan interest subsidy amount and the subsidy category.

If you have been looking to buy/ construct a new home or are planning to extend/ improve your existing one, check your Pradhan Mantri Awas Yojana eligibility and get a home loan interest subsidy benefits of up to Rs. 2,67,000.

|
1K
|
3L
|
6L
|
9L
|
12L
|
15L
|
18L
|
0
|
25L
|
50L
|
75L
|
100L
|
125L
|
150L
|
175L
|
200L
%
|
5
|
7.5
|
10
|
12.5
|
15
|
17.5
|
20
Months
|
1
|
40
|
80
|
120
|
160
|
200
|
240

Check Home Loan EMI after PMAY Subsidy Deductions
Login with your Gmail ID to check your reduced Home Loan EMI after availing PMAY Subsidy.

Reduced Loan Amount

#,##,###

Loan EMI

#,##,###

Total Interest Payable

#,##,###

PMAY Calculator - Frequently Asked Questions (FAQs)

What is the PMAY Calculator?

PMAY Calculator, or Pradhan Mantri Awas Yojana Calculator, is a free online financial tool to check your PMAY eligibility and know your Pradhan Mantri Awas Yojana subsidy amount. Our PMAY home loan EMI calculator also displays your reduced EMI after availing of the PMAY interest subsidy.

What is the Pradhan Mantri Awas Yojana scheme?

The Pradhan Mantri Awas Yojana (PMAY) Scheme is the Credit Linked Subsidy Scheme (CLSS) initiated by the Government of India in June 2015. This flagship scheme of our honorable Prime Minister, Shri Narendra Damodardas Modi, focuses on providing affordable homes to the Economically Weaker Section (EWS), low-income groups (LIG), and mid-income groups (MIG) of India by December 2024.

Under the PM Awas Yojana scheme, you can get a home loan interest subsidy from 3% to 6.5% on your borrowed home loan amount and save up to Rs. 2,67,000.

Who is eligible for PMAY subsidy?

As per the Pradhan Mantri Awas Yojana scheme, people falling under the Economically Weaker Section (EWS), Low-Income Group (LIG) and Middle-Income Groups 1 and 2 (MIG-1 and MIG-2) with annual family income of up to Rs. 3 lakhs to up to Rs. 18 lakhs are eligible for PMAY subsidy, provided it’s their first pucca house registered in the name of female member of the house.

The beneficiaries of the PMAY scheme have been divided into these four income categories based on their annual family income.

Particulars

EWS

LIG

MIG-1

MIG-2

 Annual Household income

Up to 3 lakh

3 to 6 lakh

6 to 12 lakh

12 to 18 lakh

 Interest rate Subsidy (per year)

6.50%

6.50%

4.00%

3.00%

 Eligible Housing Loan Amount to Qualify for PMAY Subsidy (Rs.)

6 lakh

6 lakh

9 lakh

12 lakh

 Maximum Home Loan Tenor (in years)

20

20

20

20

 Maximum Eligible House Carpet Area to Qualify for PMAY Subsidy

30 Sq. M.

60 Sq. M.

160 Sq. M.

200 Sq. M.

 PMAY Home Loan Interest Subsidy Amount (Rs.)

2.67 lakh

2.67 lakh

2.35 lakh

2.30 lakh

What is the subsidy amount for PMAY?

Under the PM Awas Yojana scheme, you can get a PMAY subsidy of up to Rs.2,67,000, depending on your income category. 

How is PMAY subsidy calculated?

PMAY subsidy amount is calculated based on factors such as annual family income, borrowed housing loan amount, home loan interest rate, home loan tenor, house carpet area, and subsidy interest rate. As per the policy, an eligible person can get a PMAY interest subsidy ranging from 3% to 6.5%.

Planning to buy your dream home? Read the first-time home buyer's guide that will help you own the right property at the right price while saving more money.