Retail Products Section: Retail Assets Wing: Head Office: Bengaluru

R L Educative Series: 15 /2017 Date: 13.12.2017

GUIDELINES OF HOUSING LOAN UNDER PMAY- CLSS

Pradhan Mantri Awas Yojana –Credit Linked Subsidy Scheme introduced in our Bank since 17.06.2015
as per the directives of Central Government of India.
Initially the scheme was introduced for EWS/LIG categories and w.e.f. 01.01.2017 the scheme was
extended to MIG-I and MIG-II categories also. The PMAY-CLSS for MIG-I and MIG-II is extended up to
31.03.2019
Totally there are four income groups i.e. EWS, LIG, MIG-I and MIG-II. The individuals having annual
household income upto Rs.18 lakhs are also eligible under PMAY.

PURPOSE:
a. To purchase of flat/house, construction of house, repairing of kutcha/semi kutcha house to pucca
house, extension of house.
b. House to be purchased/constructed/repaired/extended should be in statutory town.
c. Carpet area of the house shall be:
EWS - upto 30 Sqm. LIG - upto 60 Sqm.
MIG-I- upto 120 Sqm. MIG-II upto 150 Sqm.
 In case of EWS and LIG carpet area may exceed but for repairs/extension it should not exceed 30
sqm in case of EWS and 60 Sqm in case of LIG including the extended area.
 Repairs/Extension is not eligible under MIG categories and carpet area also should not exceed
limit under MIG.

BANEFICIARY:
a. Beneficiary family comprises of husband, wife and unmarried children.
b. An adult earning member (irrespective of marital status) can be treated as separate house hold.
c. In case of married couple either of spouse or both together in joint ownership will be eligible for
single house.
d. Beneficiary should not have any pucca house in his/her name or in the name of family members in
any part of India.

INCOME:
Individuals are categorized depending upon their annual household income. EWS are having income
upto Rs. 3.00 Lakhs, LIG are having income above Rs.3.00 Lakhs and up to Rs.6.00 Lakhs, MIG-I are
having income above Rs.6.00 Lakhs and upto Rs.12.00 Lakhs, MIG-II are having income above Rs.12.00
Lakhs and up to Rs.18.00 Lakhs.

PROOF OF INCOME:
Salaried Income: Salary Certificate, Salary Slips, Form 16, ITRs.
Others : Self declared Income Certificate/Affidavit can be obtained for amount upto Rs.2.50 Lakhs.
Above Rs.2.50 Lakhs suitable income proof to be obtained and verified.

AGE : Age of the borrower shall be 21 to 60 years. However, If the age of the beneficiary is more than
50 years, legal heir has to join the loan.
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 QUANTUM: 4 times of annual household income subject to NTH of 40% after considering the
proposed loan EMI.
REPAYMENT: Repayment by EMI. Maximum repayment period upto 30 years. Interest subsidy will be
calculated for 20 years or tenure of the loan whichever is less.
PROCESSING CHARGES: No Processing Charges up to the loan amount eligible for subsidy. Actual
processing charges to be collected for loan beyond the eligible amount for subsidy.
SECURITY: EMT of the house/flat to be purchased/constructed.
MARGIN:
For New House/Flat : Upto Rs. 20 Lakhs 10%, Above Rs.20 Lakhs 20%
Old House/Flat upto 10 years old irrespective of loan amount: 20%
Old House/Flat above 10 years old irrespective of loan amount: 25%
SUBSIDY:
Maximum Loan Eligible House Size Interest Maximum
Category Household Income Interest Subsidy
Loan for subsidy (Sq. Mtr) Subsidy in%#
(vary from case to case basis)
EWS Upto 300000 1200000 600000 30* 6.5 267280
> 300000 &
LIG 2400000 600000 60* 6.5 267280
upto 600000
> 600000 &
MIG-I 4800000 900000 120 4 235068
upto 1200000
> 1200000 &
MIG-II 7200000 1200000 150 3 230156
upto 1800000
*EWS and LIG category can exceed the House Size.
# Interest Subsidy for tenure of 20 years or tenure of the loan whichever is less
ACCOUNT OPENING:
Application: NF 1015 and annexures as per HO Cir 494/2015, 646/2016,352/2017
Product Code : 630, LNM 75 (property address – 1st field: Plot/House No. with Street,
2nd field : Locality
3rd field : Town Name (Statutory Town)
Scheme Code : 75350 – HL PMAY EWS
75360 – HL PMAY LIG
91200 – HL PMAY MIG-I
91300 – HL PMAY MIG-II
Sector Code : 11600 – Housing Direct Priority
24600 – Housing Direct Non-priority.
All the branches can finance under PMAY-CLSS scheme, but property to be financed should be in
Statutory Town. List of statutory town are available in HO Cir 595/2015 dt. 15.12.2015 and
HO Cir 94/2017 dt. 21.02.2017.

Bank as a whole, Target for the FY 2017-18 is 18420 household are to be financed. To achieve this
target each branch in statutory towns has to finance minimum of 5 households.
No deviations/relaxations are permitted.

हेमन्त कु मार टम्टा / HEMANT KUMAR TAMTA

महा प्रबंधक / GENERAL MANAGER
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