Pradhan Mantri Awaas Yojana (PMAY)–U 2.0
Pradhan Mantri Awas Yojana (PMAY) – U 2.0
| Criteria | Details for Urban Areas (Statutory Towns) |
| Annual Gross Income | 1) EWS: Up to ₹3 lakh 2) LIG: ₹3 lakh to ₹6 lakh 3) MIG-I: ₹6 lakh to ₹9 lakh 4) MIG-II: ₹9 lakh to ₹12 lakh |
| Property Cost Limit | Maximum ₹35 lakh across all categories (EWS, LIG, MIG) |
| Ownership Requirement | Must be in the name of a female head of household or jointly with a male member (exceptions apply if no adult female exists in the household). |
| Geographical Scope | All statutory towns as per Census 2011 and newly notified towns or urban areas. |
Key Features
Loan can be availed for purchase of House, Construction on plot, Purchase in co-op society, Repair/Extension of House.
PMAY-Urban 2.0 offers a subsidy of up to ₹1.80 lakh on your home loan interest, significantly reducing your financial burden.
Attractive and lowest interest rate.
Salaried, Professionals and Business class can avail the benefit of the scheme
1.Loan Term
| Criteria | Details for Urban Areas (Statutory Towns) |
| Annual Gross Income | 1) EWS: Up to ₹3 lakh 2) LIG: ₹3 lakh to ₹6 lakh 3) MIG-I: ₹6 lakh to ₹9 lakh 4) MIG-II: ₹9 lakh to ₹12 lakh |
| Property Cost Limit | Maximum ₹35 lakh across all categories (EWS, LIG, MIG) |
| Ownership Requirement | Must be in the name of a female head of household or jointly with a male member (exceptions apply if no adult female exists in the household). |
| Geographical Scope | All statutory towns as per Census 2011 and newly notified towns or urban areas. |
2. Loan Amount
| Urban | Maximum amount of Rs. 25 lakhs |
3. Interest Rate & Charges
| Variable Rate |
| Your Loan interest rate are CIBIL score linked (t&c apply)
For best rate please contact your nearest branch |
4. Repayment Mode
You can pay your home loan EMIs through:
1) Electronic Clearing Service (ECS)/ National Automated Clearing House(NACH)- based on standing instructions, given to your bank.
2) Post Dated Cheques (PDCs) – Drawn on your salary/savings account. (Only for locations where ECS/NACH facility is not available).