About the PMAY Subsidy Calculator
What is the PMAY Subsidy Calculator?
Under the Pradhan Mantri Awas Yojana – Urban 2.0 Interest Subsidy Scheme, eligible first-time home buyers from EWS, LIG and MIG households get a subsidy on their home-loan interest. The subsidy is credited to the loan account, reducing the outstanding principal and the EMI.
Enter your loan, interest rate, tenure, property value and household income. The calculator checks the main eligibility limits (income up to ₹9 lakh, loan up to ₹25 lakh, property value up to ₹35 lakh) and estimates the subsidy as the present value of 4 percentage points of interest on the first ₹8 lakh of the loan over up to 12 years, capped at ₹1.8 lakh.
How to use the PMAY Subsidy Calculator
- Home Loan Amount (₹) (sample: 25,00,000)
- Home Loan Interest Rate (% per year) (sample: 9)
- Loan Tenure (years) (sample: 20)
- Property Value (₹) (sample: 30,00,000)
- Annual Household Income (₹) (sample: 8,00,000)
- Interest Subsidy (percentage points) (sample: 4)
- Loan Portion Eligible for Subsidy (₹) (sample: 8,00,000)
- Maximum Subsidy Tenure (years) (sample: 12)
- Subsidy Cap (₹) (sample: 1,80,000)
- Press Estimate PMAY Subsidy (results also refresh as you type). The result card shows the Estimated Interest Subsidy, along with Eligibility (PMAY-U 2.0 interest subsidy), Subsidy before the cap (NPV at 9%), Current EMI and EMI after subsidy is credited to the loan.
Formula used
Subsidy = min(NPV of (EMI at r − EMI at (r − 4%)) on ₹8 lakh for 12 years, ₹1.8 lakh)
- NPV = present value of the monthly EMI difference, discounted at 9% a year
- Categories = EWS up to ₹3 lakh, LIG ₹3–6 lakh, MIG ₹6–9 lakh annual household income
All scheme parameters are editable, so you can model the terms stated in the official guidelines or by your lender.
Worked example
These are the sample values already filled in the calculator above, and the result it returns for them:
| Input | Sample value |
|---|---|
| Home Loan Amount (₹) | 25,00,000 |
| Home Loan Interest Rate (% per year) | 9 |
| Loan Tenure (years) | 20 |
| Property Value (₹) | 30,00,000 |
| Annual Household Income (₹) | 8,00,000 |
| Interest Subsidy (percentage points) | 4 |
| Loan Portion Eligible for Subsidy (₹) | 8,00,000 |
| Maximum Subsidy Tenure (years) | 12 |
| Result | Value |
|---|---|
| Estimated Interest Subsidy | ₹1,49,831 |
| Eligibility (PMAY-U 2.0 interest subsidy) | Likely eligible – MIG category |
| Subsidy before the cap (NPV at 9%) | ₹1,49,831 |
| Current EMI | ₹22,493 |
| EMI after subsidy is credited to the loan | ₹21,145 |
Tips for using the PMAY Subsidy Calculator
- The beneficiary family must not own a pucca house anywhere in India.
- Apply through your lender (bank or housing finance company) that is registered with the scheme's central nodal agency.
- The subsidy is released in instalments, so the EMI reduction happens gradually.