How to Apply for Home Loan Under PMAY

How to Apply for Home Loan Under PMAY


Today, many home loan applicants utilise the subsidy benefits offered under the PMAY scheme. If you are looking to apply for a home, the following guide will help you apply for the loan under PMAY.

The advent of PMAY, an ambitious affordable housing scheme launched by the government of India, has helped several Indians become homeowners. Under the scheme, the government aims to build more than two crore new affordable housing units across cities and towns to be occupied by the poor citizens. Additionally, under CLSS (Credit Linked Subsidy Scheme), which is an integral part of the Pradhan Mantri Awas Yojana, the government provides interest subsidy on the home loan.

If you are applying for a home loan under PMAY, you must be aware of the various procedures involved. You can apply for the Pradhan Mantri Awas Yojana subsidy benefits, either offline or online. The step-by-step process for both are listed below:

Process for offline application

Step 1

To avail of the PMAY benefits online, you can visit any authorised lender’s office of your choice and fill the loan application form. You must also submit the necessary KYC documents, and submit proof of your credit score.

Step 2

Get your loan sanctioned from the lender.

Step 3

After the lender has approved the loan amount you wish to borrow, you can ask the lender to provide the PMAY form and submit the same.

Step 4

Select the right property that you want to buy and register for the scheme

Process of online application

If you want to avoid the hassles of personally visiting the lender’s office, and handle the paper, you can apply for the PMAY home loan subsidy benefits online.

Step 1

Visit the official PMAY website –

Step 2

Choose the ‘citizen assessment’ option from the top menu bar and choose the appropriate category under which you want to apply for the subsidy. The options include ‘slum dweller’ and ‘benefit under the ‘other 3 components.’

Step 3

After you choose the appropriate category, a new window will appear on the screen and prompt you to enter the 12-digit Aadhaar card number and name as mentioned on the card.

Step 4

After you enter the Aadhaar details, you will be redirected to the scheme application page.

Step 5

You will be prompted to enter certain details like name, address, bank account details. You will also be required to enter income details. The annual income you mention in the form will determine your eligibility for the subsidy scheme under the relevant category.

Step 6

After you have filled in the details, make sure that you review the information again to check for its accuracy before you click on the enter button to submit the application.

Step 7

When you click on the submit button, a pop-up window will appear on the screen to confirm the information that you have provided. After you confirm, you must click on the ‘I am aware of’ tab at the bottom of the page. You can then click on the save option to save the details on the system.

Step 8

After your information is saved, the system will automatically generate an application number. You must keep this number safe as you would need it for all your future references and to check the application status.

Step 9

You can download the application form, and if you want a physical copy of the same, you can take a print out.

Step 10

The last step is to submit the PMAY application form at the nearest CSC (Common Service Centre) or any of the nationalised banks or the authorised lending institution. Along with the form, you must submit the necessary documents as listed in the form. It is a wise practice to keep the photocopies of the documents and the application form for future references.

Final Word

Now that you are aware of the steps involved in applying for a home loan under the Pradhan Mantri Awas Yojana apply for a home loan and get one step closer to owning your dream home.

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