The basic steps on how to get subsidy on home loan under PMAY are;
To avail a home loan subsidy under Pradhan Mantri Awas Yojana-Urban 2.0 (PMAY-U 2.0), you must meet eligibility criteria, choose a registered lender, apply for a home loan, register for the Interest Subsidy Scheme (ISS) and ensure all documentation and approvals are complete.
The subsidy is then credited directly to your home loan account, reducing the principal and lowering your EMIs.
Check Eligibility: Annual household income must fall under: EWS (≤ Rs. 3 lakh), LIG (Rs. 3–6 lakh), or MIG (≤ Rs. 9 lakh). You or any family member must not own a pucca house anywhere in India. Applicable only for loans sanctioned and disbursed on or after 1 Sept 2024. Loan up to Rs. 25 lakh and house value up to Rs. 35 lakh with carpet area ≤ 120 sqm.
Select a bank or financial institution registered under PMAY-U 2.0, and apply for a home loan (for purchase, resale or construction). The lender will check your eligibility for the subsidy and may assist with documents.
After loan sanction, register your demand for subsidy on the Unified Web Portal with details of your loan and lender. You may need to submit a self-certificate/affidavit for income and a declaration on not owning a pucca house.
Submit identity and address proofs (Aadhaar, PAN), income proofs, property documents, loan details, and any required affidavits. The bank may help upload these on the PMAY portal.
Once approved by the nodal agency, the interest subsidy (typically 4% on the first Rs8 lakh for up to 12 years, up to Rs1.80 lakh) is credited in instalments into your loan account reducing principal and EMIs.
Ensure your loan remains active and not in default (NPA) and that more than 50% of principal is outstanding at the time of subsidy release.
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How To Get Subsidy On Home Loan Under PMAY?
priya
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2026-01-30T18:02:05+00:00 2026-02-02T11:03:11+00:00Comment
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