Under Pradhan Mantri Awas Yojana scheme, the applicants have the opportunity to avail subsidy on home loan at lower interest rate. There are certain criteria which must be met in order to get this subsidy. Many people have been asking how can I get PMAY subsidy on my existing home loan. In fact they want to know ‘Can I avail PMAY on existing home loan?’ Here is the answer to your question.
Unfortunately, PMAY home loan subsidy cannot be availed on an existing home loan. The scheme is available for those who want to buy a new property. So to answer your question: how can I get PMAY subsidy on my existing home loan? I would say, you cannot.
Here are the eligibility conditions to avail PMAY subsidy scheme:
The scheme is applicable for families with a husband, wife, and unmarried children.
The applicant must not own a pucca house across the country
If you are married then you can apply for joint ownership under this scheme.
Only first time applicants can avail the PMAY subsidy scheme
I hope I was able to answer your questions.
Read more: Who is eligible to apply for PMAY subsidy How to apply for PMAY subsidy scheme How much time does it take to get PMAY subsidy in the loan account
How can I get PMAY subsidy on my existing home loan?
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2021-09-27T17:20:27+00:00 2021-09-28T16:19:45+00:00Comment
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