• General
  • General
Apna Ghar

Apna Ghar is a floating home loan product is exclusively designed with features of Pradhan Mantri Awas Yojana- Credit Linked Subsidy Scheme. Customers can avail maximum subsidy of Rs 2.67 lakhs under this product if they are eligible for benefits under PMAY-CLSS.

Key Highlights of The Scheme

Period of the Scheme:

EWS / LIG
MIG-I / MIG-II
17.06.2015 onwards 01.01.2017 onwards

Coverage:

All Statutory Towns as per Census 2011 and towns notified subsequently including planning area as notified with respect to Statutory Town.

Purpose:

EWS / LIG
MIG-I / MIG-II
New Construction, acquisition and addition of rooms, kitchen, toilet etc to existing dwelling as incremental housing Interest Subsidy on housing loan for acquisition / construction of houses (including re-purchase)

Beneficiaries:

  1. Beneficiary family will comprise of husband, wife and unmarried children. An adult earning member (irrespective of marital status) can be treated as a separate household.

  2. In case of married couple, either of the spouses or both together in joint ownership will be eligible for single house, subject to income eligibility of the household under the scheme.

  3. In case of EWS/LIG, the Unit should be in the name of the female head of the household or in the joint name of the male head of the household and his wife. In case when there is no adult female member in the family, the house can be in the name of male member of the household.

  4. The beneficiary family should not own a pucca house either in his/her name or in the name of any member of his/her family in any part of India.

  5. Should have not availed Central assistance under any housing scheme from Govt of India

ILLUSTRATIVE EXAMPLES:

Assuming loan tenure of 20 yrs & Rate Of Interest @8.35%:

Beneficiary under EWS/LIG:

LOAN AMT
EMI BEFORE SUBSIDY CREDIT
REDUCED EMI AFTER SUBSIDY CREDIT
MONTHLY SAVING
SAVING OVER 20 YRS LOAN TENURE
3,00,000 2,575 1,428 1,147 2,75,280
6,00,000 5,150 2,856 2,294 5,50,560
10,00,000 8,584 6,289 2,295 5,50,800

For Rs.10 lacs loan, Total Savings = Rs.5,50,800 (Saving over 20 yrs loan tenure) + Rs.2,67,280 (Maximum subsidy amt) = Rs.8,18,080/-

Beneficiary under MIG-I:

LOAN AMT
EMI BEFORE SUBSIDY CREDIT
REDUCED EMI AFTER SUBSIDY CREDIT
MONTHLY SAVING
SAVING OVER 20 YRS LOAN TENURE
6,00,000 5,150 3,805 1,345 3,22,800
9,00,000 7,725 5,707 2,018 4,84,320
12,00,000 10,300 8,283 2,017 4,84,080

For Rs.12 lacs loan, Total Savings = Rs.4,84,080 (Saving over 20 yrs loan tenure) + Rs.2,35,068 (Maximum subsidy amt) = Rs.7,19,148/-

Beneficiary under MIG-II:

LOAN AMT
EMI BEFORE SUBSIDY CREDIT
REDUCED EMI AFTER SUBSIDY CREDIT
MONTHLY SAVING
SAVING OVER 20 YRS LOAN TENURE
9,00,000 7,725 6,244 1,481 3,55,440
12,00,000 10,300 8,325 1,975 4,74,000
15,00,000 12,875 10,900 1,975 4,74,000

For Rs.15 lacs loan, Total Savings = Rs.4,74,000 (Saving over 20 yrs loan tenure) + Rs.2,30,156 (Maximum subsidy amt) = Rs.7,04,156/-

Designed and Developed by LIC HFL