SBI PMAY Home Loan Eligibility List 2022 – Documents List – Pradhan Mantri Awas Yojana (PMAY) is a government-launched housing scheme that aims to provide housing with water connection to every eligible family by 2022. State Bank of India (SBI) has launched SBI PMAY to help achieve this mission under which eligible applicants can apply for this home loan scheme.
Under the Pradhan Mantri Awas Yojana, the Pradhan Mantri Griha Grih Loan Yojana or credit linked subsidy scheme provides interest subsidy on urban home loans. The State Bank of India (SBI) is inviting online applications for home loans under the PMAY scheme. The eligible candidates can apply for THE PM Awas Yojana Home Loan Scheme on the official website. Sbi PMAY Home Loan Eligibility List is given below. CLAT ListÂ
SBI PMAY Home Loan Eligibility List 2022 – Documents List
| Criteria | Existing Instructions (CLSS – EWS + LIG) | Revised Instructions (CLSS – EWS + LIG) |
|---|---|---|
| Household/ Annual Income (Rs) | Upto Rs. 6 lakhs | Upto Rs. 6 lakhs |
| Property Area (Carpet Area) | 30 sqm for EWS and 60 sqm for LIG | 30 sqm for EWS and 60 sqm for LIG |
| Location | 17778 towns | 17778 towns |
| Woman Ownership | Yes (except for construction) | Yes (except for construction) |
| Max Loan Amt for Subsidy | Upto 6 lakhs | Upto 6 lakhs |
| Subsidy % | 6.50% | 6.50% |
| Subsidy Amount | Rs. 2.20 lakhs | Rs. 2.67 lakhs |
| NPV | 9% | 9% |
| Max term of loan (on which subsidy will be calculated) | 15 yrs | 20 yrs |
| Property should be Family’s | 1st home** | 1st home** |
| Validity | 2022 | 2022 |
| Applicability | Loans approved on/after 17/06/2015 | Loans approved on/after 01/01/2017 |
There are following eligibility criteria for SBI PMAY Home Loan :
- The household with an annual income from Rs.6,00,0001 to Rs.12 lacs for MIG-I
b. The household with an annual income from Rs.12,00,001 to Rs. 18 lacs for MIG-II
- The beneficiaries have been defined as a family comprising of husband, wife and unmarried children. An adult earning member (irrespective of marital status) cab be treated as a separate household and can avail subsidy independently.
- Incase of married couple, either of the spouses or both together in joint ownership will be eligible for a single house subject to income eligibility of the household under the scheme.
- The beneficiary family should not own a pucca house either in his / her name or in the name of any member of his / her family in any part of India.
- The Carpet area of house under this scheme should be up to 160 sq. mts. for MIG-I beneficiaries and up to 200 sq. mts. for MIG-II beneficiaries.
- Banks shall have to submit a consolidated certificate on completion of the housing unit within 1 year period from the completion of construction or a maximum of 36 months from the date of the disbursement of the 1st instalment of the loan amount. In case of defaults in not providing utilisation / end use certificate the bank shall refunds the amount of subsidy to the CNA.
- Incase a borrower who has taken a home loan under the scheme and has availed interest subvention benefit under the scheme but later on switches to another bank such beneficiary will not be eligible for the benefit of interest subvention again.
- Home loan under this scheme will be available by way of Term loan and Maxgain (for loan limits of Rs. 20 lakh and above) with a maximum tenor of 30 years. However subsidy is available for a maximum tenor of 20 years only.
- Through the interest subvention under CLSS (MIG) is available upto Rs. 9 or 12 lakh, loan limits over and above Rs. 9 to 12 lakh will also be sanctioned to the eligible borrowers based on the eligibility criteria stipulated under our existing Home Loan Scheme.
|
