PMAY Subsidy Calculation

Annual Family Income
Loan Amount
Tenure
Years
Rate Of Interest
%

Subsidy Category

EWS

Total Interest Saved

Subsidy Amount

EMI Saved

*With effect from 31st Mar 21, Applicants with family income of more than ₹ 600,000 are Not Eligible for this subsidy
Particulars Applied Loan Subsidy / Savings Revised Loan
Amount ₹ 5,00,000 (-) ₹ 2,22,7333 ₹ 2,77,267
EMI ₹ 4,499 (-) ₹ 2,004 ₹ 2,495
Total Interest ₹ 5,79,671 (-) ₹ 2,58,224 ₹ 3,21,447

What is the PMAY Calculator

It is a tool that helps you estimate the maximum subsidy you can receive under the PMAY scheme. By entering your annual family income, loan amount, and tenure, you can quickly check your beneficiary category and the eligible home loan subsidy.

The PMAY calculator simplifies the process of checking home loan eligibility, works on the PMAY subsidy formula, and provides instant results.

How to Use the PMAY Subsidy Calculator

The PMAY subsidy calculator helps you quickly estimate your eligible home loan subsidy. To use it, provide the following details:

  • Enter your total household income.

  • Specify the home loan you plan to take.

  • Choose the duration of your loan in months.

  • Indicate if this is your first pucca house (Yes/No).

  • Select Yes if a woman is a co-owner of the property.

The calculator will instantly show your beneficiary category and subsidy amount.

How is the PMAY Subsidy Calculated

The PMAY subsidy is calculated based on your annual household income and the eligible home loan amount. Each income group has a fixed subsidy rate and a maximum loan limit. If your loan amount exceeds this limit, the subsidy applies only to the eligible portion, while the rest is charged at the normal interest rate.

The subsidy is credited upfront to your loan account, reducing the principal and lowering your EMIs. You can use a PMAY calculator to estimate your subsidy and revised instalments for better loan planning.

PMAY Subsidy Calculator

The Pradhan Mantri Awas Yojana subsidy calculator is an online tool that helps you check if you qualify for the Pradhan Mantri Awas Yojana scheme. It also estimates the subsidy you may receive on your home loan.

 

To use the calculator, you need to enter details such as your household income, loan amount, interest rate, and loan tenure. Once you provide these inputs, the tool will display your eligibility status and potential subsidy amount.

 

The calculator works by matching your details with the eligibility criteria under the Credit Linked Subsidy Scheme (CLSS). It tells you which category you fall under and the benefits available to that group.

 

Using the Pradhan Mantri Awas Yojana eligibility calculator can save time and give you clarity before applying for a home loan. It helps you plan your finances better by showing your expected savings through the subsidy.

PMAY Income Groups and Subsidy Eligibility

The Pradhan Mantri Awas Yojana provides interest subsidies on home loans based on your income group. PMAY eligibility and subsidy limits are categorised as follows:

Income Group

Annual Income

Interest Subsidy

Maximum Loan for Subsidy

Maximum Subsidy Amount

EWS (Economically Weaker Section)

Up to ₹3 Lakhs

6.5%

₹6 Lakhs

₹2.67 Lakhs

LIG (Low-Income Group)

₹3 Lakhs to ₹6 Lakhs

6.5%

₹6 Lakhs

₹2.67 Lakhs

MIG I (Mid-Income Group I)

₹6 Lakhs to ₹12 Lakhs

4%

₹9 Lakhs

₹2.35 Lakhs

MIG II (Mid-Income Group II)

₹12 Lakhs to ₹18 Lakhs

3%

₹12 Lakhs

₹2.30 Lakhs

Example Calculation

Suppose a family falls under the LIG category with a home loan of ₹6 Lakhs at 9% p.a. Under PMAY, they get a 6.5% subsidy on the eligible loan amount. This effectively reduces their rate to 2.5% on the subsidised portion. The maximum benefit here is ₹2.67 Lakhs, which directly lowers the loan principal and reduces the overall repayment burden.

Factors that Affect Your PMAY Subsidy

Knowing what impacts your PMAY subsidy helps you plan your home loan better and avoid missing out on benefits. Here are the key factors that affect your subsidy amount and eligibility:

  • Annual Household Income

Your income category determines the interest subsidy rate and the maximum loan amount eligible for subsidy. Lower-income groups receive a higher subsidy compared to higher-income groups.

  • Loan Amount

Only the eligible portion of your loan qualifies for the PMAY subsidy. Any amount beyond the limit is charged at the regular interest rate.

  • Loan Tenure

The subsidy is calculated for a maximum loan tenure of up to 30 years. Shorter tenures may result in lower interest savings.

  • Beneficiary Category

PMAY divides applicants into EWS, LIG, MIG I, and MIG II based on income. Each group has fixed subsidy rates and eligible loan caps.

  • Property Ownership

To qualify, applicants who already own a pucca house may be excluded from receiving the subsidy.

  • Female Co-ownership

Having a female co-owner is encouraged under the scheme, especially for EWS and LIG categories. It may increase the chances of approval and eligibility.

Benefits of Using the PMAY Calculator

Using a PMAY calculator helps you understand your potential savings before you apply for a home loan. Here are the key benefits of using the calculator:

Quick Subsidy Estimation

The calculator provides your estimated subsidy in seconds, saving time and giving you clarity before applying.

Checks Your Eligibility

It shows whether you qualify for the PMAY scheme based on your details. This avoids confusion and helps you make informed decisions.

Easy EMI Calculation

The calculator estimates your equated monthly instalments (EMIs) after applying the subsidy. This helps you plan your future payments better.

Simple to Use

You only need to enter basic details such as income, loan amount, interest rate, and tenure. The tool then displays clear results instantly.

Helps Compare Loan Options

The calculator helps you see how the subsidy affects your loan repayment. This can guide you in choosing the right loan amount and tenure.

Free and Accessible

PMAY calculator is free and available online. You can use them anytime without any cost.

Frequently Asked Questions

Who is not eligible for PMAY?

People with an annual family income above ₹18 Lakhs are not eligible for PMAY benefits. Additionally, if you already own a pucca house or have received benefits from any other government housing scheme, you cannot apply. PMAY is designed to support first-time homebuyers who have not received any prior housing assistance.

Are government employees eligible for PMAY?

Yes, government employees are eligible for PMAY if they meet the income and other eligibility criteria. Their employment status does not affect their eligibility. What matters is the household income, property ownership status, and whether they have received benefits under any other housing scheme

Is a female co-applicant mandatory for PMAY?

Yes, having a female co-owner is strongly encouraged under PMAY, especially for EWS and LIG categories. The scheme aims to promote women’s ownership of property. If there is no eligible female member in the family, this requirement can be relaxed. However, including a female co-applicant increases the chances of approval.

How are low-income and middle-income groups classified?

Under PMAY, the income classification is based on total annual household income:

  • Low-Income Group (LIG): Income between ₹3 Lakhs and ₹6 Lakhs

  • Middle-Income Group I (MIG I): Income between ₹6 Lakhs and ₹12 Lakhs

  • Middle-Income Group II (MIG II): Income between Rs. 12 Lakhs and ₹18 Lakhs

How is the PMAY subsidy calculated?

The subsidy is based on your income group, loan amount, and loan tenure. Each category has a fixed subsidy rate and a maximum loan limit. For example, EWS and LIG categories receive a 6.5% subsidy on loans up to ₹6 Lakhs. 

MIG I receives 4% on up to ₹9 Lakhs, and MIG II receives 3% on up to ₹12 Lakhs. If your loan exceeds the eligible amount, the excess is charged at the normal rate.

Is repairing work to the existing house covered under the scheme?

Yes, PMAY allows for renovation or extension of an existing house under certain conditions. The work needs to be completed within 36 months from the date of receiving the first loan instalment. This option helps families improve their living space while benefiting from the subsidy.

Is the PMAY subsidy applicable for properties in rural areas?

The PMAY subsidy under PMAY-U is applicable only for houses in urban areas and does not cover rural properties. For rural areas, there is a separate scheme that is PMAY-Gramin (PMAY-G).

Is there a deadline to apply for PMAY benefits?

Yes, PMAY has specific deadlines based on the scheme phase and beneficiary category. The government has extended the timeline for completion of sanctioned houses up to 31st December 2025.

Who can use the PMAY Subsidy calculator?

Anyone planning to apply for a home loan under the Pradhan Mantri Awas Yojana can use the PMAY calculator. It helps estimate the eligible subsidy, check your beneficiary category, and plan EMIs based on your income, loan amount, and tenure.

Does the calculator show the exact subsidy amount I will receive?

The PMAY subsidy calculator provides an estimated subsidy based on your income, loan amount, and tenure. The actual subsidy may vary slightly depending on the lender’s terms and final approval.

What happens after I check my PMAY subsidy using the calculator?

After checking your PMAY subsidy, you can proceed with the formal application process with a lender.

Does the PMAY calculator also check loan eligibility?

Yes, the PMAY calculator estimates both your subsidy and loan eligibility based on your income, loan amount, and tenure.

How is the PMAY subsidy calculated in the tool?

The PMAY calculator determines your subsidy using your income group, home loan amount, and tenure. It applies the applicable interest subsidy rate to show estimated EMIs.

Can I use the calculator if I already have a home loan?

As per the PMAY guidelines, you cannot claim the subsidy if you or your family already own a pucca house. The scheme is aimed at first-time homebuyers without any existing pucca house.

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