TMB PMAY Home Loan

Features and Benefits

To provide interest subsidy through central sector scheme for acquisition/construction of house (including re-purchase) to cater to the Middle Income Group (MIG).

Term loan

Maximum of Rs. 9,00,000 – MIG1

Maximum of Rs. 12,00,000 – MIG2

Eligibility and Terms

Beneficiary

A beneficiary family will comprise of husband, wife, unmarried sons and/or unmarried daughters. An adult earning member (irrespective of marital status) can be treated as a separate household :

Provided that he / she does not own a pucca (an all weather dwelling unit) house in his / her name in any part of India.

Provided that the family should not have availed of central assistance under any Housing scheme from Government of India.

Provided also that in the case of a married couple, either of the spouse or both together in joint ownership will be eligible for a single house, subject to income eligibility of the household under the scheme.

Margin :

Construction and improvement in the existing house – 25%

Repayment :

Maximum - 30 years

Security :

Equitable Mortgage of the Land / House / Flat purchased/ constructed/ acquired under the Loan and the improvements/ additions there.

Interest and Fees

Interest

Click here to know about RLLR based interest rates.

Fees & Charges

For the loan amount eligible for interest subsidy is NIL

Additional amount beyond the aforementioned specified limit - 0.50% of the additional Limit Sanctioned plus Taxes as applicable.

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