Public Sector Bank (PSU)PMAY CLSS Subsidized Home Loan🇮🇳PMAY CLSS SubsidizedVerified: 2026-09-29

PMAY Credit Linked Subsidy Scheme (CLSS) - MIG-I Housing

Primary Lending Institution:Ministry of Housing and Urban Affairs (MoHUA)

4% interest subvention on home loans up to ₹9 Lakh for Middle Income Group families earning ₹6L–₹12L.

Connected Central Government Scheme: Pradhan Mantri Awas Yojana - Urban (PMAY-U / Housing for All)View Scheme Guidelines →

Interest Rate8.40% – 9.30% (4% interest subsidy on ₹9L slab)Floating linked to RLLR / EBLR

Loan Amount QuantumUp to ₹1 Crore (Subsidy on first ₹9 Lakh)Subject to LTV & income

Maximum TenureUp to 20 yearsOr up to age 70 years

Processing FeesStandard bank fee on loan amount above ₹9 Lakh

What's Missing: Crucial Fine-Print & Exclusion Gaps

This loan requires the property to be in an approved society/project — self-constructed rural properties often ineligible. All adult family members' Aadhaar details verified against national housing registries.

Note: Eligo publishes these exclusions directly from RBI Master Directions and bank MITC charters to prevent unexpected rejections or non-refundable fee losses.

What is PMAY Credit Linked Subsidy Scheme (CLSS) - MIG-I Housing?

Middle Income Group I (MIG-I) category under PMAY-U providing 4% interest subvention for families with annual income between ₹6 Lakh and ₹12 Lakh.

Key Benefits & Features

Up to ₹2,35,068 upfront principal deduction; carpet area allowance up to 160 sq.m (approx. 1,722 sq. ft.); spouse joint application accepted.

PMAY Interest Subsidy Details

4.00% upfront interest subsidy on principal up to ₹9 Lakh (Max subsidy ₹2.35 Lakh)

Property & Project Eligibility Requirements

Carpet area up to 160 sq.m; residential approval from local town planning authority; RERA registered project where applicable.

Borrower Eligibility Criteria

Annual household income ₹6,00,001 to ₹12,00,000; carpet area up to 160 sq.m; no pucca house owned by applicant or family.

Age Requirement21 to 70 Years

Min. Monthly Income₹50,000

Min. CIBIL Score675+

Prepayment PenaltyZero prepayment penalties on floating rate home loans

How to Apply (3 Verified Paths)

📱Path 1: Existing Customers

Request PMAY MIG-I documentation checklist from loan account manager.

🌐Path 2: Fresh Online Portal

Apply online at partner bank portal selecting PMAY MIG-I subsidy category.

🏢Path 3: Branch / RACPC Walk-In

Submit home loan application along with salary slips/ITRs and property sale agreement at lending bank.

Eligo does not collect loan applications or borrower information. Apply exclusively on the verified official domain:

Visit Official Portal↗

Documents Required Checklist

Form 16/ITR-V for last 2 years, Bank statements for last 6 months, Aadhaar cards, Property title and municipal sanction plan.

Frequently Asked Questions

What is the maximum subsidy under MIG-I?

Under MIG-I, the maximum interest subsidy credited upfront is ₹2,35,068 calculated on ₹9 Lakh principal at a 9% NPV discount rate.

What is the carpet area permitted under MIG-I?

The carpet area permitted is up to 160 square metres (approximately 1,722 square feet).

Is female ownership mandatory in MIG-I?

Unlike EWS and LIG categories, female ownership is optional for the MIG categories, although highly encouraged.

Can married children living with parents apply separately?

An adult earning child (whether married or unmarried) is considered a separate household, provided they do not own a pucca house in their name.