Pradhan Mantri Awas Yojana (Urban) / Credit Linked Subsidy Scheme
Interest subsidy on your home loan, so the monthly instalment comes down
If you live in a town and take a home loan, this scheme pays part of the interest for you. The subsidy is given to households in the income categories the scheme has defined, and it is credited against your loan so your monthly instalment becomes smaller. The bank applies for it on your behalf once your loan is sanctioned.
Who can apply
- Household living in a town or urban local body area
- Household income within one of the income categories defined by the scheme
- Taking a home loan from a bank or housing finance company
- The household does not already own a pucca house anywhere in India
Who cannot apply
- Households that already own a pucca house
- Households that have already taken benefit of a central housing subsidy
What to take with you
- Aadhaar cards of all household members
- Income proof or salary papers
- Bank statements
- Property and loan papers
- Declaration that the family does not own a pucca house
How to apply
Apply at pmay-urban.gov.in, or ask the bank or housing finance company giving your home loan to process the interest subsidy claim for you.
Rejected or still waiting? Check these first
Most applications fail for a correctable reason, not because the applicant was ineligible. Before assuming you do not qualify, check each of these:
- Household income falls outside the defined income category
- Family already owns a pucca house, which the declaration check picks up
- Aadhaar details of household members do not match the loan application
Still stuck after checking all of these? Tell us what happened and we will help you work out which office to approach.