Apply Online for ICICI Home Loan Scheme 2021 Under Pradhan Mantri Awas Yojana

ICICI bank home loan scheme 2021 under credit linked subsidy component of Pradhan Mantri Awas Yojana to provide home loans at lesser interest rate to EWS, LIG, MIG 1 & MIG 2 category, check how to apply online, eligibility criteria, emi calculator, subsidy amount & details here
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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 2021 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 benefitExtended loan tenureNo limit on loanOption 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 propertyAn option to avail additional loans at non-subsidised rates.
ICICI Bank PMAY Home Loan Scheme

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:-

Central Government Schemes 2021केंद्र सरकारी योजना हिन्दीPopular Schemes in Central:PM Awas Yojana Gramin (PMAY-G)Pradhan Mantri Awas YojanaNarendra Modi Schemes List

Type of SchemeEWSLIGMIG 1MIG 2
Family Income (in Rs.)0 to 3 lakh3 to 6 lakh6 to 12 lakh12 to 18 lakh
Carpet Area – Max (sq.mt)30 sq.mt60 sq.m160 sq.m200 sq.m
Maximum amount of the loan on which subsidy is calculated (Rs.)6 lakh6 lakh9 lakh12 lakh
Interest subsidy (%)6.5%6.5%4%3%
Maximum subsidy (Rs.)2.67 lakh2.67 lakh2.35 lakh2.3 lakh
Validity of scheme31 March 202231 March 202231 March 202131 March 2021
Ownership of the property by a womanMandatory*Mandatory*Non MandatoryNon Mandatory
ICICI Bank PMAY Home Loan Scheme

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

46 thoughts on “Apply Online for ICICI Home Loan Scheme 2021 Under Pradhan Mantri Awas Yojana”

  1. 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

    Reply
  2. 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

    Reply
  3. 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

    Reply
  4. 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

    Reply
  5. 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.

    Reply
  6. 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

    Reply
  7. 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..

    Reply
  8. 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

    Reply
  9. 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

    Reply
  10. 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,

    Reply
  11. 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

    Reply
  12. It is request, please send the particulars of PMAY SCHEME2016 through ICICI bank guntur and I want to take loan for pmay scheme2016

    Reply

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