Pradhan Mantri Awas Yojana Calculator

The PMAY calculator is a self-help planning tool to know the exact subsidy that you avail of under the PMAY scheme. Based on your household income, tenure, loan amount, and interest rate, this tool will automatically do the calculation and showcase the results.

Check Your PMAY Calculator

Have you availed central assistance under any housing scheme from Govt. or any benefit under PMAY?

Any of your household or you own a pucca house anywhere in India ?

Is adult female part of applicant’s household?

Is a woman co-owner in the property?

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EMI After PMAY Subsidy

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What is PMAY?

The Pradhan Mantri Awas Yojana (PMAY) is a transformative housing scheme launched by the Government of India in 2015. The main objective of the PMAY Scheme is to provide affordable housing solutions to all income groups, with a particular focus on the Economically Weaker Sections (EWSs), Middle-Income Groups (MIGs), and Lower-Income Groups (LIGs). The PMAY subsidy scheme spans both urban and rural areas, addressing diverse housing needs. It plays a crucial role in improving the living standards of everyone, including women, senior citizens, transgender people, and economically weaker sections of society.

What is the PMAY Calculator?

The PMAY Calculator also known as the PMAY home loan calculator is a useful tool designed to help individuals estimate the potential subsidy they can expect under the Credit-Linked Subsidy Scheme (CLSS) of the Pradhan Mantri Awas Yojana (PMAY) scheme. The PMAY subsidy calculator takes into account certain loan-related factors like the loan amount, interest rate, and loan tenure to calculate the home loan subsidy along with the beneficiary category within a span of a few seconds.

How to Use a PMAY Calculator

The home loan PMAY calculator is a simple and easy-to-use tool that involves entering specific details related to your annual income, loan amount, and property characteristics. Listed below are the steps to use the PMAY home loan subsidy calculator:

Step 1: Click the ‘PMAY’ link from the header drop-down menu under the ‘Calculators’ tab

Step 2: Check your PMAY subsidy by choosing ‘Yes’ or ‘No’ options for the four questions displayed on the PMAY calculator page

Step 3: Click ‘Next’ to proceed

Step 4: Choose the Annual Household Income, Loan Amount, Interest Rate Per Annum, and Loan Tenure

Step 5: Click ‘Next’

Step 6: The PMAY Calculator will now display the subsidy you may be eligible for under the PMAY scheme along with the effective Rate of Interest and EMI after the PMAY subsidy allocation

Factors that Affect PMAY Subsidy

The PMAY (Urban) Mission also encourages the formation of associations of beneficiary residents, like the Resident Welfare Association (RWA), to take care of facilities and maintenance of houses being built under the mission.

Eligibility for the PMAY depends on a person's income range. For example, MIG I is for annual household incomes from Rs. 6,00,001 to Rs. 12,00,000, and house sizes up to 160 sq. m. If the family's annual income exceeds the income range for the MIG group, which is Rs. 18 Lakh per year, they would be ineligible to avail benefits under the PMAY.

The PMAY offers the following interest subsidies:

  1. EWS: 6.50% p.a.
  2. LIG: 6.50% p.a.
  3. MIG-1: 4.00% p.a.
  4. MIG-2: 3.00% p.a.

Several factors may impact the PMAY subsidy status on a home loan for a borrower, and some of them are listed below:

  1. Principal Loan Amount: The higher the principal loan amount, the higher will be the subsidy amount under the PMAY scheme. Under the PMAY scheme, the loan amount eligible for subsidy is capped to ensure that the subsidy benefits reach those who need them the most. The Pradhan Mantri Awas Yojana (PMAY) is a housing scheme for the middle class that includes a stamp duty value of up to Rs 45 lakh. The Credit Linked Subsidy Scheme (CLSS) is part of the PMAY (Urban) Mission and provides an interest subsidy that is directly credited to the beneficiary's loan account.
  2. Annual Income: The lower the annual household income, the higher will be the PMAY subsidy amount, and vice versa.
  3. Applicant’s Creditworthiness: The CIBIL score or the general creditworthiness of the borrowers is another factor that can determine the subsidy on the PMAY scheme home loan.
  4. First-Time Homebuyer: Individuals who are purchasing a home for the first time are given priority under the PMAY scheme and are most likely to get higher subsidy benefits.
  5. Home Loan Tenure: The higher the home loan tenure, the higher will be the subsidy amount in a housing loan subsidy calculator.

List of Banks Offering Home Loans under PMAY Scheme

Several prominent banks offer easy home loans under the PMAY scheme. Here is a complete PMAY subsidy bank list for your reference:

  • Andhra Bank
  • Allahabad Bank
  • Axis Bank
  • Bank of India
  • Bandhan Bank
  • Bank of Baroda
  • Bank of Maharashtra
  • Canara Bank
  • Corporation Bank
  • Central Bank of India
  • City Union Bank
  • Dena Bank
  • Deutsche Bank
  • Dhanlaxmi Bank
  • Federal Bank
  • HDFC Bank
  • IDBI Bank
  • ICICI Bank
  • IDFC Bank
  • Indian Overseas Bank
  • Indian Bank
  • J&K Bank
  • Karur Vysya Bank
  • Karnataka Bank
  • Kotak Mahindra Bank
  • Laxmi Vilas Bank
  • Nainital Bank
  • Oriental Bank of Commerce
  • Punjab National Bank
  • Punjab & Sind Bank
  • State Bank of India
  • South India Bank
  • Syndicate Bank
  • The Tamilnad Mercantile Bank
  • Union Bank of India
  • United Bank of India
  • Vijaya Bank
  • YES Bank

Features and Benefits of PMAY

The Pradhan Mantri Awas Yojana (PMAY) aims to provide affordable housing solutions to the urban and rural population of India. Have a look at the benefits of the PMAY scheme:

1. Tax Benefits with Credit-Linked Subsidy Scheme (CLSS): The first lucrative benefit of the PMAY scheme is that it offers interest subsidies of up to 6.5% on home loans, which makes them even more affordable.

2. Focus on Economically Weaker Sections: One of the prime features of the PMAY scheme is that it offers affordable housing to economically weaker sections. This way, this housing scheme contributes to their overall socio-economic development.

3. Focus on Urban and Rural Focus: With the PMAY scheme, the government tries to address the housing needs of both urban and rural populations of India. Therefore, it offers Pradhan Mantri Awas Yojana (Urban) and Pradhan Mantri Awas Yojana (Gramin) for the urban and rural housing needs respectively.

4. Incentives for Women Borrowers and Minority Groups: The PMAY scheme offers additional benefits to encourage women to be joint house owners. Besides, this scheme also gives priority to minority groups like senior citizens, transgender, and differently-abled citizens to get ground floor accommodation.

5. Targeted Beneficiaries: Through the PMAY scheme, specific beneficiaries are targeted, such as the Lower-Income Groups (LIG), Middle-Income Groups (MIG), the Economically Weaker Sections (EWS), Scheduled Tribes (ST), Scheduled Castes (SCs), and slum dwellers.


As part of his flagship credit-linked subsidy scheme, Our Honourable Prime Minister Shri Narendra Modi has announced that the Economically Weaker Section (EWS), Low Income Group (LIG), and Middle-Income Group (MIG - I & MIG - II) will benefit from a credit-linked subsidy scheme. Beneficiaries are eligible for an interest subsidy when purchasing or constructing a home. The scheme can also be used to improve a residential unit.

Customers from the Economically Weaker Section (EWS), Lower Income Group (LIG), and Middle-Income Group (MIG) are eligible for an interest subsidy on the purchase, construction, extension, or improvement of their home under this scheme (MIG). The beneficiary family must not have received central assistance under the Mission "Housing for All by 2022" in order to be eligible.
  • A beneficiary is defined as:
  • A family comprising of husband, wife, and unmarried children
  • A beneficiary can also be an unmarried individual earning member of the family (only for the MIG scheme).
  • In any part of India, the beneficiary should not own a pucca house in his or her name or in the name of any member of his or her family.
  • Under the CLSS scheme, the beneficiary should not have received any central assistance.
  • Meeting income criteria is defined as per various categories under the scheme.
  • Pradhan Salaried and self-employed people can apply for the Mantri Awas Yojana.

The income norms for various categories of beneficiaries defined under the PMAY rules are:
Economically Weaker Sections (EWS) - Annual household income of up to ₹ 3 lakh
Low Income Group (LIG) – Annual household income between ₹ 3 to 6 lakhs
Mid-Income Group I (MIG I) – Annual household income between ₹ 6 to 12 lakhs
Mid-Income Group II (MIG II) – Annual household income between ₹ 12 to 18 lakhs

When you apply for a home loan under the CLSS PMAY scheme, there is no maximum loan amount you can get; however, the subsidy is only available to the extent of the maximum income under various income groups. For all applicants, the subsidy is available for a maximum of 20 years.

But the subsidy grant awarded by the Pradhan Mantri Awas Yojana is based on your income group. The maximum subsidy amount is as follows for various income groups:

EWS and LIG – up to 2.67 lakhs
MIG 1 – up to 2.35 lakhs
MIG 2 – up to 2.30 lakhs

The Pradhan Mantri Awas Yojana is applicable for a maximum considered tenure of 20 years.

Credit Linked Subsidies are available for residential construction and incremental housing, such as adding rooms, kitchens, or bathrooms to existing dwellings. Houses built under this component should have carpet areas of at least 30 square meters for EWS and 60 square meters for LIG. Those who benefit from the component can build a home of any size.

No. Under the PMAY scheme, beneficiaries can only receive benefits from one component.

The space enclosed within the walls is where you lay the carpet. The amount of carpet does not include the thickness of the inner walls.

Yes, the beneficiary can be covered under the subsidy for the beneficiary-led individual house construction program, if he/she qualifies for the program.

Here’s why:
  • Doorstep Documentation
  • Agent Support
  • 100% Online Process
  • Flexible Repayments
  • Disbursal within 15 Days