Credit Linked Subsidy Scheme provides the Loan subsidy (Up to Rs 250000) under the PM Awas Yojana. CLSS scheme is applicable only for first time home buyers. Under Credit Linked Subsidy Scheme the subsidy amount is not given directly rather it will be adjust under the home loan amount. CLSS Scheme Provides the home loans to the EWS, LIG, MIG-I & MIG-II Categories citizens. Under the Credit Linked Subsidy Scheme (CLSS) the up to 6.5% interest rate subsidy is provided to the beneficiary. If you want to know CLSS Eligibility, Application Form & Loan subsidy amount details then read the complete article.
CLSS Scheme 2019
CLSS Scheme has introduced under the PM Awas Yojana (URBAN)-Housing for All. Under this Scheme various banks provides home loans for purchase/construction/extension/improvement of house. The tenure of these home loans is maximum 20 years. As per the beneficiary’s annual income Credit Linked Subsidy Scheme is divided into three categories Such as Economically weaker section (EWS), Lower Income Group (LIG) and Middle Income Group (MIG). The amount of subsidy and the rate of interest are given in just below section.
Highlights PMAY Credit Linked Subsidy Scheme
|CLSS Scheme Type||EWS and LIG||MIG-I||MIG-II|
|Eligibility Household Income ( Rs.)||Upto Rs. 6,00,000||Rs. 6,00,001 to 12,00,000||Rs. 12,00,001 to 18,00,000|
|Carpet Area-Max (sqm)||60 sqm||160 sqm||200 sqm|
|Interest Subsidy (%)||6.5%||4.00%||3.00%|
|Subsidy calculated on a max loan of||Rs. 6,00,000||RS 9,00,000||Rs. 12,00,000|
|Loan Purpose||Buy/Self Construction/Extension||Purchase/Self Construction||Purchase/Self Construction|
|Validity of scheme||31/03/2022||31/03/2020||31/03/2020|
|Max Subsidy (Rs.)||2.67 Lacs||2.35 Lacs||2.30 Lacs|
|Woman Ownership||Mandatory||Not Mandatory||Not Mandatory|
Objective of CLSS Scheme
Under the Credit Linked Subsidy Scheme central govt. wants to provide house to all citizens who are buying/purchasing own house first time. The main target of CLSS Scheme is to provide home loans (at Subsidy interest rate) up to 20 million people belonging to the Low-Income Families, Middle Income Groups and Economically Weaker Sections by 2022.
Brief Summary of Credit Linked Subsidy Scheme
|Name of the Scheme||Credit Linked Subsidy (CLSS)|
|Launched by||Mr. Narendra Modi|
|Launched year||Year 2015|
|Department||Ministry of Housing Affairs|
|Objective||Housing for all|
|Benefits||Rs 2.30 lakh to Rs 2.67 Lakh|
|Beneficiary||EWS or LIG and MIG categories|
|Type of scheme||Central govt. Scheme|
Feature of CLSS Scheme
- CLSS Scheme is started under the PMAY-Urban Housing for all scheme
- Central Govt. has extended the CLSS Scheme time limit till March 2020.
- In this scheme Directly 2.5 lakh rupees are not given to the beneficiary under the CLSS interest subsidy rather it will be adjusted in their home loan amount.
- These Home Loans will be given for maximum time duration of 20 years.
Eligibility for CLSS Scheme
- EWS or LIG Category Annual income Up to Rs. 6, 00,000
- MIG-I Category Annual income Rs. 6, 00,001 to Rs. 12, 00,000
- MIG-II Category Annual income Rs. 12,00,001 to Rs. 18,00,000
- Aadhaar Card
- Pan Card
- Income Tax Return (if applicable)
- Address Proof
How To Apply For
Credit Linked Subsidy Scheme
The interested eligible citizens, who want to apply for Credit Linked Subsidy Scheme, firstly check all the guidelines and features of the scheme. Now visit at the nearest banks and housing loan finance company and fill the CLSS Home Loan Application Form. After the verification of all the documents Related bank will approve your loan application and in the last of the loan approval section you will get the Loan amount.
CLSS Helpline Number
- NHB TollFree Number- 1800-11-3377,1800-11-3388
- HUDCO: 1800-11-616