About the Subsidy PMAY Calculator
What is the Subsidy PMAY Calculator?
The Interest Subsidy Scheme under PMAY-Urban 2.0 helps first-time buyers from EWS, LIG and MIG households with a subsidy on home-loan interest, credited to the loan account upfront in instalments.
Enter the loan, rate, tenure, property value and household income. This PMAY home loan subsidy calculator checks the main eligibility limits and estimates the subsidy — 4% on the first ₹8 lakh of the loan for up to 12 years, capped at ₹1.8 lakh — and the EMI after it is credited.
How to use the Subsidy PMAY 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 at 9% of the EMI saving from a 4% lower rate on ₹8 lakh for 12 years, ₹1.8 lakh)
- Eligibility = income up to ₹9 lakh, loan up to ₹25 lakh, property up to ₹35 lakh, no pucca house anywhere in India
All scheme parameters can be edited to match the latest guidelines or your lender's terms.
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 Subsidy PMAY Calculator
- Apply through a lender registered with the scheme's central nodal agency.
- The subsidy reduces the principal, lowering your EMI or tenure.
- Keep income and property documents ready for verification.