ICICI bank home loan scheme under the credit linked subsidy component of Pradhan Mantri Awas Yojana has been launched. The bank will provide home loans of up to Rs. 6 Lakh to the people belonging to EWS and LIG categories at a special interest rate. Moreover, ICICI Bank will provide home loans of upto Rs. 9 lakh to MIG-I category people while upto Rs. 12 lakh for MIG-II category people.
The bank will provide a subsidy for eligible EWS / LIG borrowers at 6.5% per annum on a maximum amount of Rs. 6 Lakh for a tenure of up to 15 Years. The subsidy for MIG I category borrowers is 4% p.a and subsidy for MIG-II category borrowers is 3% p.a. ICICI Bank has signed an MoU with the National Housing Bank (NHB) to provide loans under PM Awas Yojana.
Quick Links: How to Apply | Eligibility Criteria | Documents Required | List of Bank Branches
In this article, we will tell you about the complete details of the ICICI Bank Home Loan Scheme under Pradhan Mantri Awas Yojana for EWS / LIG / MIG-1 / MIG-2 category people.
ICICI Bank Home Loan Scheme 2024 under PMAY
The Credit Linked Subsidy Scheme (CLSS) under the Pradhan Mantri Awas Yojana (PMAY) was announced by our Honourable Prime Minister Shri Narendra Modi. This scheme envisages the vision of housing for all by the year 2022. With ICICI Bank, you can avail the benefits of the Credit Linked Subsidy Scheme under the Pradhan Mantri Awas Yojana.
Under this scheme, an interest subsidy on purchase, construction, extension or improvement of a house is provided to customers belonging to the Economically Weaker Sections (EWS), Low Income Groups (LIG) or Middle Income Groups (MIG). For details, give us a missed call on 9022499400.
How to Apply for ICICI PMAY Home Loan
Here is the direct link to apply online for PMAY Home Loan from ICICI Bank – https://www.icicibank.com/Personal-Banking/loans/home-loan/pradhan-mantri-awas-yojna.page
Salient Features of ICICI Bank PMAY Home Loan Scheme
| Subsidy benefit | Extended loan tenure | No limit on loan | Option for additional loan |
| Interest subsidy benefits up to ₹2.67 lakh* | Loan repayment tenures of up to 20 years. | No cap on the amount of the loan or on the cost of your property | An option to avail additional loans at non-subsidised rates. |
Eligibility Criteria for ICICI Bank PMAY Home Loan Scheme
Your eligibility to avail the benefits under the Pradhan Mantri Awas Yojana (PMAY) scheme from ICICI Bank is basis the below mentioned parameters:-
| Type of Scheme | EWS | LIG | MIG 1 | MIG 2 |
| Family Income (in Rs.) | 0 to 3 lakh | 3 to 6 lakh | 6 to 12 lakh | 12 to 18 lakh |
| Carpet Area – Max (sq.mt) | 30 sq.mt | 60 sq.m | 160 sq.m | 200 sq.m |
| Maximum amount of the loan on which subsidy is calculated (Rs.) | 6 lakh | 6 lakh | 9 lakh | 12 lakh |
| Interest subsidy (%) | 6.5% | 6.5% | 4% | 3% |
| Maximum subsidy (Rs.) | 2.67 lakh | 2.67 lakh | 2.35 lakh | 2.3 lakh |
| Validity of scheme | 31 March 2022 | 31 March 2022 | 31 March 2021 | 31 March 2021 |
| Ownership of the property by a woman | Mandatory* | Mandatory* | Non Mandatory | Non Mandatory |
Other important things to note about the eligibility criteria
- If you are the beneficiary, your family should not own a pucca house in your name or in the name of any member of your family in any part of India.
- In case of a married couple, either of the spouses or both the spouses together in joint ownership will be eligible for a single subsidy.
- The beneficiary family should not have availed of central assistance under any housing scheme from Government of India or any benefit under any scheme in PMAY.
ICICI PMAY Home Loan Calculator
Direct link to access ICICI PMAY Home Loan Calculator – https://www.icicibank.com/calculators/pmay-calculator.html?ITM=nli_cms_HL_pmay_check_eligiblit_btn
How to Get Home Loan Subsidy from ICICI Bank under PMAY
Here is the complete process to avail the subsidy under the PMAY scheme. If you are eligible for the subsidy under the PMAY scheme and if you have not availed the same while taking a home loan from ICICI, you can submit your request separately. We will review your request for claiming the subsidy and then submit the claim to the National Housing Bank.
Please follow the process outlined below:
- Click here to download the Self Declaration form
- Submit the form, duly filled, at the asset servicing branch of ICICI Bank that is nearest to you. Click here to view the nearest asset servicing branch.
- Please carry the original document of your proof of ID.
- Aadhaar number is mandatory to avail of the subsidy. So, we request you to carry the original Aadhaar card of all the members in your family.
Important points:
- You need to provide the correct details of the members in your family.
- The signatures of all the applicants and co-applicants (wherever applicable) are required on the Self Declaration Form.
- The subsidy is subject to approval and clearance from the National Housing Bank.
The home loans under PM Awas Yojana are available at 2513 branches of ICICI bank across the country. The complete list of the bank branches where the loan is available here.
Beneficiaries under the PMAY scheme from ICICI Bank
This scheme is offered to families comprising of husband, wife and unmarried children. An adult earning member, irrespective of their marital status, can be treated as a separate household in the MIG category.
The family should not own a pucca house in the name of the beneficiary or in the name of any member of the family of the beneficiary, in any part of India.
How the bank will provide the loan at subsidized rate
The bank will claim subsidy benefit for eligible borrowers from National Housing Bank (NHB). The NHB will conduct a due diligence to exclude claims where customer has submitted multiple request. For all eligible borrowers, the subsidy amount would be paid to the Bank. Once the bank receives the interest subsidy, it will be credited upfront to the Loan Account. The subsidy will be calculated on NPV basis at the rate of 9% discount rate.
For example, the borrower avails a loan for Rs. 8 Lakh and the subsidy works out to Rs. 2,20,000. The amount (Rs. 2,20,000) would be reduced upfront from the loan (i.e., the loan would reduce to Rs. 5,80,000) and the borrower would pay EMIs on the reduced amount of Rs. 5,80,000.
* The above example is for illustration purpose only and will depend on the actual amount received or any changes done by NHB on the same.
Additional Documents Required to Submit to Avail the Loan
- Declaration of not owning a pucca house.
- Customers not having income proof would require to submit an Affidavit.
List of Bank Branches to Avail the Home Loan Under PMAY
The home loan amount sanctioned to the eligible EWS/LIG applicants will depend upon their repayment capability. The loan however can be spread out for up to 30 years. The home loan scheme will significantly help bringing down the EMI amount. The applicants can however apply for larger amount but the loan amount beyond Rs. 6 Lakh will be provided at non-subsidized rate of interest. The home loan could be availed from any of the bank branches of ICICI Bank.
Download the complete list of ICICI bank branches
The Credit Linked Subsidy is available for housing loans availed for new construction and addition of rooms, kitchen, toilet, etc. to existing dwellings as incremental housing. The carpet area of houses being constructed under this component should be up to 30 sq. m. for EWS category and up to 60 sq. m. for LIG category. However, the beneficiary can construct a bigger house.
IMG CREDIT: icicibank.com
House No.242 Ganjakhet Chowk NadBachi Dob Chandekar Akhada Nagpur 440018
It is request, please send the particulars of PMAY SCHEME2016 through ICICI bank guntur and I want to take loan for pmay scheme2016
Ghar ke liye pese ki jarurat he ik liye lon chahati hu myere pas ghar nahi ap myri madat kar
All up person want our pucca house so plz provide details my home town is Jharavania beri korave Allahabad u p how to we r get loan
You need to apply for the housing scheme in up under PMAY, if any
Hello,Sir,Mere naam Pradeep Sharma hai,mai uttrakhand se hoon,but mera birth New Delhi ka hi hai,aur main delhi me hi rehta hoon,
sir mere ghar me mai aur meri mummy ji hi rehte hai,abhi hum kisi servent ctr me rehte hai,badhi mushkil se kuch paise jama karke,humne faridabad me 32 gz ka plot kharida hai,2 saal ho gaye hai,but,abhi humare paas itne paise nahi hai ki hum waha ghar bana sake,Sir,please aap help kar dijiye,mummy ji ki bhi tabiyat thik nahi rehti hai,kal ko meri shadi hogi to ladki ko apne ghar to laa sakte hai,help me sir,please,
mayra ghar bahut purana ho gayaa hai mayray gahr ka roof kabhi bhi gir sakta hai mayray ghar may chotay bachay rahtay hai mujhay loan chaiyay ghar banaanay kay liyay please mayri madat kariyay
plz mayri help kariyay
i need loan in icici bank under pradham anthri awas yojana
I need PMAY HOME LOAN PLEASE GIVE ME COUSTEMER CARE NO.
I want to take loan of 2000000 for my home and my annual income is less than 600000 so plz tell that i can get the help from prime minister awas yojna plz send information in my email id as i mentioned below
Your income is much more than the criteria under pm awas yojana
requiad. 700000
Muje Ghar ke liye pese ki jaruat he muje loan ki jaruat he myere pas ghar nahi he myri madat kare
I need pradhan mantri yajona loan
yahan sab k liye kuch na kuch mil hi jayega chahe woh koi bhi categories ho…kuch hai nai to sirf gen.categories k liye…or khaas karke baniyo k liye…baniyo k logo ki sabse badi galti yeh hai k unhone baniyo k ghar janam liya…baniya chahe kahin bhi kisi bhi desh mein kisi bhi shehar mein ya kisi bhi gaon mein use gen.dekh k chhod diya jata hai..
I want to take loan of 1550000 for my home and my annual income is less than 600000 so plz tell that i can get the help from prime minister awas yojna plz send information in my email id as i mentioned below
iwant to your scheme Pradhan mantra awas yojana
my loan reqst
என் பெயர் செந்தில். தமிழ்நாடு விழுப்புரம் மாவட்டம் உளுந்தூர்பேட்டை வட்டம் நான் Icici bank pmay. விண்ணப்பம் வாங்கினேன் Manager, panchayat development officer. Thirunavalur ஐஅனுக சொன்னார். அவர்கள்.கிராமத்திற்கு இல்லை என்றும் நகரத்திற்கு மட்டும்தான் என்று கூறுகிறார்கள்.விளக்கம் தேவை.
I want pmay loan.how to apply and who the office.
I takin the loan for 12 lakh from ICICI & my anual income is under 3 lakh.file disburs before 3 month still not received the subsidy amount what should I do. Pl reply
I need loan
I have not any account in ICICI bank.So should I open my account first to have the pradhan mantri awas yojna scheme.
I am not a account holder of the ICICI Bank.Should I open my account first to eligible the scheme.What Should I do.Plz Reply!!!
I need loan but I am not account holder of ICICI bank. Would I get loan?
Muje loan chahiye sab documents ok hai
Plzz aap humri madad kro hum bahut paresahan hai sir
i need loan in icici bank under pradham anthri awas yojana
Sir mera naam sunil h
Maine 880000 ka loan liya h
Meri income 300000 se kum h
Hi sir
Gohani jasra Allahabad New branch k le
I want New branch and atm open on first floor in my building i hav 1417sg feet area
Pls contact me 7617839999
I want to take loan of 2000000 for my home and my annual income is less than 350000 so plz tell that i can get the help from prime minister awas yojna plz send information in my email id as i mentioned below
Sir mujhse prime minister yojana home loan chahiye please reply
Hamara ghar hay nai
K iya Mujha Lon milsakta hay pLz
Chatrapur
9173514954
I Need Loan.
mobi No :- 7057222609
Pradhan Mantri Awas Yojana home loan 600000
Pradhan Mantri Awas Yojana home loan customer care contact number
Pradhan Mantri Awas Yojana Home Alone customer care number call
I want to transfer my lig home loan from MHFC To ICICI Bank due to rate of interest please tell me what is procedure.
I need loan ( pm avast yojna)
I need pradhan mantri awas yojna loan
mera pmay subsidy home loan pass ho gay th dt -01.8.2016 me Rs 215000 jis ka chq no.pmayclssud0578 th bad me icici bank wal dt 01.01.2017 ko bolat hai ke paka pmaysubsidy cancel ho gaya hai job ki mera income Rs 282000 hai or ya mera phal ghar hai
Mera home loan Jun-2016 se start hai , kya mai home loan subsidy ke liye eligible hoo ? Please reply
Ews plot hai Ghar banane ke liye pm awas yojna ke tahat loan chahiye
i want home loan 300000 for village area
I want home lone 800000 for village area