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Home loan with Pradhan Mantri Awas Yojna (PMAY) benefits at lower interest rates

Buying a house of your own is one of the biggest dreams of most of the individuals today. Investing in a house not only gives you an asset that appreciates but also fulfills an important need for you and your family and offers security too. As the property prices are surging, it is quite difficult to buy a house with your savings alone. However, with the easy financial solution offered by banks and NBFCs in the form of home loans and government-led schemes have made it easy for people to buy or construct their dream house without any financial burden.

‘Housing for All by 2022’ is one of the foremost assurances made by the NDA government when it came into power in 2014. To support this vision of Prime Minister Narendra Modi, the Government of India launched the ‘Pradhan Mantri Awas Yojna’ (PMAY) in 2015, which primarily aims at providing financial assistance to potential homebuyers. With this Credit Linked Subsidy Scheme (CLSS), the government provides strategic assistance to individuals either to buy or to construct their own houses across the country.

To begin with, the government provides an interest subsidy to of up to Rs. 2.67 lakh to individuals applying for home loans, thereby reducing the overall amount of the loan. This enables beneficiaries to purchase their homes at a substantially lower price. As on March 31, 2019 interest subsidy of about 12,000 crores has been released pan India in the last 3 years.

Bajaj Housing Finance Limited (BHFL) a 100 percent subsidiary of Bajaj Finserv, one of India’s leading financial services company, offers a lucrative interest rate on home loans along with PMAY benefits. Customers can get a home loan up to Rs 3.5 crore from BHFL at the lowest interest rate for purchasing a new house, constructing a house or renovating their existing house.

BHFL is one of the lending partners listed with Pradhan Mantri Awas Yojna (PMAY). Customers can easily avail the benefits of PMAY when they opt for the home loan from BHFL. They can avail a home loan with PMAY benefits at lower interest rates and save up to Rs. 2.67 lakh on interest. Customers can also get a home loan under PMAY even if their parents own a home, and thus have the chance to become a homeowner themselves.

With attractive Home Loan interest rates and a host of benefits to suit one’s needs and finances, BHFL Home Loans are designed to help customers fulfill their dream of owning a home without any hassle.