PMAY covers 4 income groups: EWS (up to Rs 3 lakh/year), LIG (Rs 3-6 lakh), MIG-I (Rs 6-12 lakh) and MIG-II (Rs 12-18 lakh). All four categories get interest subsidy on home loans. EWS and LIG get 6.5% subsidy on loans up to Rs 6 lakh. Annual income is of the entire household combined — not just the applicant.
For EWS/LIG category (income up to Rs 6 lakh): 6.5% interest subsidy on loan up to Rs 6 lakh for 20 years — effective saving of Rs 2.67 lakh. For MIG-I (Rs 6-12 lakh income): 4% subsidy on Rs 9 lakh loan — saving Rs 2.35 lakh. For MIG-II (Rs 12-18 lakh): 3% subsidy on Rs 12 lakh — saving Rs 2.30 lakh. Subsidy is credited upfront as NPV to your loan account.
For PMAY-Urban: Visit pmaymis.gov.in → Track Your Assessment Status → Enter Application Number or Aadhaar number. For PMAY-Gramin: Visit pmayg.nic.in → Awaassoft → Report → H → Enter registration number. You can also call the PMAY helpline at 1800-11-6163 for urban or 1800-11-6446 for rural queries — both toll-free.
📋 Sources & Methodology
Data sourced from: RBI official website · Official bank websites · SEBI · IRDAI · Ministry of Finance press releases. Rates and data verified by FinMandi Research Team. Last verified: May 2026. FinMandi does not accept payment to rank any bank or product.
Disclaimer: All scheme details are as per official government sources updated May 2026. Eligibility and benefits may change. Always verify at official government portals before applying.