Part Prepayment Calculator

Loan Amount

₹

5 Lacs1.5 Cr

Loan Tenure

Years

3 years25 years

Interest Rate

8.5%25%

Month Of Prepayment

012

Pre-payment Amount

₹

1 Lac6 Lac

Pre-payment Mode

EMI Tenure

EMI

New EMI (if EMI mode)

₹0

New Total Tenure (if Tenure mode)

0 Month

Interest Saved (EMI Mode)

₹0

Interest Saved (Tenure Mode)

₹0

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*The values, calculations, and results provided are for illustrative and informational purposes only.
Actual figures may vary based on parameters determined by Mahindra Home Finance.

What is the PMAY Subsidy Calculator?

The PMAY-U Subsidy Calculator helps you quickly determine if you qualify for benefits under the Credit Linked Subsidy Scheme (CLSS). It identifies your subsidy category (EWS, LIG, MIG) based on income, calculates the total subsidy amount and annual benefit, and shows how much you can save on your home loan EMIs. This tool makes it easy to plan your home purchase under the Pradhan Mantri Awas Yojana scheme.

Eligibility Criteria for PMAY

To avail PMAY-U benefits, you must meet certain conditions.

First Pucca House: You should not own a pucca house anywhere in India
Female Ownership: Property should be registered in the name of a female family member or jointly with spouse

You should not own a pucca house anywhere in India, and the property should be registered in the name of a female family member or jointly with a spouse. Your household income should fall under one of the eligible groups:

EWS: Up to ₹3 lakh
LIG: ₹3–6 lakh
MIG: ₹6–9 lakh

Additionally, the property must meet size and value requirements, such as a carpet area up to 120 sq. m and housing value within scheme limits.

How to Use Mahindra Home Finance’s PMAY Subsidy Calculator

Using the PMAY-U Subsidy Calculator is simple. Start by confirming if this is your first pucca house and select the female ownership status.
Enter your annual family income, loan tenure, loan amount, housing value, and carpet area.
Once you click Calculate, the tool will display your subsidy category, the subsidy amount, and the annual benefit you can receive under PMAY-U.

Why Choose Mahindra Home Finance for PMAY-U 2.0 Loans?

Choosing Mahindra Home Finance for your PMAY-U loan means partnering with a trusted name in housing finance. With years of experience, we offer a simple and transparent loan process, ensuring clarity at every step. Our competitive interest rates and flexible tenure options make home ownership affordable and stress-free. Plus, our dedicated team provides complete support for PMAY-U subsidy applications, helping you maximize benefits under the scheme.

Start your journey toward an affordable home today with Mahindra Home Finance.

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FREQUENTLY ASKED QUESTIONS (FAQs):

The PMAY-U 2.0 Subsidy Calculator by Mahindra Home Finance is an online tool that helps you check your eligibility for the Pradhan Mantri Awas Yojana – Urban (PMAY-U) 2.0 and calculate the subsidy amount you can receive under the Credit Linked Subsidy Scheme (CLSS).

Any Indian citizen who does not own a pucca house anywhere in India and meets the income criteria under PMAY-U 2.0 can apply. The property should also be registered in the name of a female family member or jointly with a spouse.

EWS (Economically Weaker Section): Up to ₹3 lakh annual income
LIG (Lower Income Group): ₹3–6 lakh annual income
MIG (Middle Income Group): ₹6–9 lakh annual income

You can get an interest subsidy of up to ₹1.80 lakh, depending on your income category, loan amount, and tenure.

You need to enter:

Annual family income
Loan amount and tenure
Housing value
Carpet area
Ownership details (female ownership required)

Yes, the property should be registered in the name of a female family member or jointly with a spouse, as per PMAY-U guidelines.

No, PMAY-U benefits are only available for first-time homeowners who do not own a pucca house anywhere in India.

After checking your eligibility using our PMAY-U 2.0 Subsidy Calculator, you can apply online or visit your nearest Mahindra Home Finance branch. Our team will guide you through the documentation and application process.

Visit the list of all documents to know the required documents for PMAY-U

Yes, the subsidy amount is credited to your loan account, reducing your principal and lowering your EMI or shortening your tenure.