New Home Loan Subsidy PMAY 2025: Eligibility & Benefits

New Home Loan Subsidy Scheme: A Simple Guide for First-Time Homebuyers

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New Home Loan Subsidy Scheme: A Simple Guide for First-Time Homebuyers

2 min 14 Apr 2025

Highlights:

What is the Home Loan Subsidy Scheme?
Key Features of the Home Loan Subsidy Scheme
Who Can Apply for the Home Loan Subsidy Scheme?
How to Apply for the Home Loan Subsidy Scheme

A new central housing initiative is now available to support aspiring homeowners in urban India. This Home Loan interest subsidy scheme is designed to make homeownership more accessible for middle-income families by offering interest-linked benefits through a Credit Linked Subsidy structure. If you are planning to purchase or construct your first home, this scheme could help reduce your overall interest outflow significantly.

What is the Home Loan Subsidy Scheme?

Launched under the Credit Linked Subsidy Scheme (CLSS), this initiative allows eligible individuals and families to benefit from an interest subsidy directly credited to their Home Loan account. The scheme supports the Government’s broader vision of “Housing for All” and focuses on enhancing homeownership in urban areas.

Key Features of the Home Loan Subsidy Scheme

Interest Subsidy of up to Rs.1.80 Lakh on your Home Loan
Applicable to salaried and self-employed individuals meeting eligibility norms
Supports purchase or construction of a first home in urban areas
Available through registered lenders, including housing finance companies and banks

Who Can Apply for the Home Loan Subsidy Scheme?

To qualify for the scheme, applicants should:

Be a first-time homebuyer
Not own a pucca house anywhere in India
Belong to one of the eligible income groups:
- Economically Weaker Section (EWS)
- Lower-Income Group (LIG)
- Middle-Income Group (MIG)
Choose a property located in an urban or semi-urban area

How to Apply for the Home Loan Subsidy Scheme

You can apply for the Home Loan subsidy through Bajaj Housing Finance in just a few steps:

Submit your application through the Bajaj Housing Finance online application form or branch.
Share income proof, identity/address documents, and a declaration of first-time homeownership.
Once your loan is sanctioned, we initiate the subsidy request.
On approval, the eligible subsidy amount is credited to your loan account, reducing your principal.

The Home Loan subsidy scheme by the government is an opportunity for eligible individuals to move into homeownership with greater financial ease. With simplified processes, faster approvals, and tailored solutions, owning your dream home is easier than ever.

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