• Contact Us
  • Disclaimer
  • Home
  • Privacy Policy
Newsletter
Finance Guide
  • Home
  • Banking
    • Credit Card
    • IFSC
    • Loans
    • Routing Number
  • Business
  • Customer Service
  • Finance
  • Land Records
  • Others
  • Stock Market
No Result
View All Result
  • Home
  • Banking
    • Credit Card
    • IFSC
    • Loans
    • Routing Number
  • Business
  • Customer Service
  • Finance
  • Land Records
  • Others
  • Stock Market
No Result
View All Result
I Finance Guide
No Result
View All Result
Home Finance

Pradhan Mantri Awas Yojana With Canara Bank: Features, Eligibility, Types and How to Apply?

authorsanjib by authorsanjib
July 18, 2021
in Finance
0
PMAY Canara Bank

Pradhan Mantri Awas Yojana Canara Bank

0
SHARES
76
VIEWS
Share on FacebookShare on Twitter

Pradhan Mantri Awas Yojana is a scheme launched by the Indian Government on 25th June, 2015. The scheme was officially announced by the Prime Minister of India. This initiative was taken to uplift the dream of affordable houses for the urban poor citizens. This scheme is run successfully by the Ministry of Housing and Urban Affairs (MoHUA). It is a Credit Linked Subsidy Scheme (CLSS), i.e. one can take a loan under this scheme to build a house. The main mission of this Yojana is “Housing for all“. The scheme aims to fulfill its agenda by 31st March, 2022. The vision is to create more than 2 crore houses.

Canara Bank is one of the leading banks in India. It is regulated by the government and aims at following the instructions given by the authorities. CANARA bank has been customer centric in it’s approach since the start. It provides the customer with the government benefits at the earliest and simplest ways.

Related articles

TCS share price target

Tata Consultancy Services Share Price Target: 2023 to 2030

January 27, 2023
New to the world of taxes? Avoid these mistakes!

New to the world of taxes? Avoid these mistakes!

June 8, 2022

Features of Pradhan Mantri Awas Yojana

  1. Aims at providing affordable houses to every individual
  2. The subsidy rate of interest starts from 6.50% p.a.
  3. The subsidy can be availed upto 20 years of tenure
  4. Preference is given to senior citizens and differently abled citizens
  5. The construction of houses will be done in eco-friendly manner
  6. The scheme covers both urban and rural areas
  7. The initiative is a Credit Linked Subsidy Scheme and it is implemented all over India

Eligibility to apply for PMAY

The following factors decide the eligibility to apply for this scheme :

  • Income : The citizens annual income should be below 18 lakh to avail the benefits of the scheme. The people are categorised as EWS, LIG or MIG. But, Individuals having an annual income above 18 lakhs cannot avail the benefits of the PMAY Yojana.
  • Property owner: It is essential under the PMAY scheme, for women to be the owner of the house. Her name should be on the property papers. It can be a single woman owning the house or a woman along with Men in her family.
  • No existing property : This scheme is only for people who don’t have their own pucca house. An individual who already has a house cannot sign up for this scheme.
  • Registered towns : The person who wants to apply for the scheme must reside in a registered town, village or city. This means their residence place or the place they want to build their own house must be classified under the Census 2011.
  • No previous home loans : The beneficiary should not have taken any previous home loans from Canara Bank or availed the pradhan mantri awas yojana beforehand.

Types of PMAY

The housing benefit is divided into two types :

1. Pradhan Mantri Awas Yojana Urban

  • It comprises 4300 cities
  • Completed residence : 35.8 lakhs
  • Approved residence : 105.6 lakhs
  • Occupied residence : 66.23 lakhs
  • The interest rate varies from 3% – 4% for Canara Bank users
  • Maximum home loan tenure is 20 years
  • Maximum subsidy amount varies around ₹2.3 lakhs

2. Pradhan Mantri Awas Yojana Gramin 

  • It comprises villages, slums and rural areas.
  • 1.4 crores houses have been sanctioned
  • The interest rate is from 6.50%
  • Maximum subsidy amount is ₹2.67 lakhs
  • The maximum tenure for loan is 20 years

How to apply for Pradhan Mantri Awas Yojana?

Pradhan Mantri Awas Yojana by Canara Bank

1. The Pradhan Mantri Awas Yojana website

  • Visit the official website of Pradhan Mantri Awas Yojana
  • From the menu tab, click on ‘Citizen Assessment’.
  • Enter your Aadhar number
  • Click on submit
  • Fill all your details required in the application duly
  • Save your information
  • After saving, you will receive a unique application number
  • Download your application
  • Submit your application with your documents at the nearest Canara Bank branch

You’ll shortly be informed about the status of your application.

2. Official Canara Bank website 

  • Visit the Canara bank portal
  • From the left menu, select Personal Banking
  • From personal banking , select loan features
  • Choose pradhan mantri awas Yojana
  • Call the toll free number for more details.

Benefits of PMAY

  1. Housing for all irrespective of their class or starta
  2. Development of the country’s residential status
  3. Priority to women owners promotes women empowerment
  4. Eco-friendly homes build on sustainable methods
  5. Subsidies at lower interest rates for a longer period

Your housing dreams are now fulfilled by your very own Canara Bank in association with the government. So, don’t miss a chance and get yourself your own roof with the Pradhan Mantri Awas Yojana with Canara Bank.

Tags: Canara bankPMAY
ShareTweetPin

Related Posts

TCS share price target

Tata Consultancy Services Share Price Target: 2023 to 2030

by authorsanjib
January 27, 2023
0

Tata Consultancy Services (TCS) is a global IT services and consulting firm based in Mumbai, India that is a subsidiary...

New to the world of taxes? Avoid these mistakes!

New to the world of taxes? Avoid these mistakes!

by authorsanjib
June 8, 2022
0

Income tax savings are an essential component of financial planning for every salaried people. It is essential to have a...

Types of POS System & How they Benefit Your Retail Business Store

Types of POS System & How they Benefit Your Retail Business Store

by admin
November 1, 2021
0

A POS system or point-of-sale system is a popular tool that enables businesses to receive payments and monitor business operations....

Improving your trading mind-set within a short time

by admin
October 15, 2021
0

Very few traders understand the importance of a stable mind-set in the trading profession. Most people think trading is all...

Gold Rate in India - What is the Gold Price History? 

Gold Rate in India: What is the Gold Price History? 

by admin
August 28, 2021
0

Gold is one of the most valued metals in India and Indians are one among the largest consumers of Gold....

Load More

iFinanceGuidecom.com is a perfect source for getting all the banking & finance-related information. We regularly update this blog with all the essential and quality information that a user expects.

Contact us: shotbytes@gmail.com

Categories

  • Banking
  • Business
  • Credit Card
  • Customer Service
  • Finance
  • IFSC
  • Insurance
  • Land Records
  • Loans
  • Others
  • Routing Number
  • Stock Market
  • Uncategorized

Follow Us

  • Contact Us
  • Privacy Policy
  • Disclaimer

© 2021 IFinanceGuideCom

No Result
View All Result
  • Contact Us
  • Disclaimer
  • Home
  • Privacy Policy

© 2021 IFinanceGuideCom