How to Check If You’re Eligible for the Pradhan Mantri Awas Yojana?

Buying a house entitles you to save on lump sum rent expenditure, apart from giving you an asset that can secure your future. If you plan to buy your dream home using a home loan, you also need to save and pay for a hefty down payment. Further, repaying your home loan means abiding by the loan terms and paying the interest charged on your home loan as part of your EMIs. All this does not come easy on the pocket. However, in order to encourage home buyers, the government has made purchase of a home an affordable prospect vide the Pradhan Mantri Awas Yojana. Launched on 25th June 2015, this scheme offers interest subsidies on home loans, the percentage for which is determined based on your economic standing.

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