Who is eligible for credit linked subsidy scheme?

Beneficiaries of Economically Weaker section (EWS) and Low Income Group (LIG) seeking housing loans from Banks, Housing Finance Companies and other such institutions would be eligible for an interest subsidy at the rate of 6.5\% for a tenure of 20* years or during tenure of loan whichever is lower.

What is the meaning of credit linked?

A credit linked note (CLN) is a form of funded credit derivative. It is structured as a security with an embedded credit default swap allowing the issuer to transfer a specific credit risk to credit investors. The issuer is not obligated to repay the debt if a specified event occurs.

What is credit linked subsidy CLSS?

Credit Linked Subsidy Scheme (CLSS) is one of the four verticals of Pradhan Mantri Awas Yojana-Urban (PMAY-U) under which interest subsidy is provided on home loans taken by eligible beneficiaries of Economically Weaker Section (EWS) and Low-Income Group (LIG) for acquisition of houses by purchase/ re-purchase or …

How do I check my PMAY credit subsidy status?

Visit http://pmaymis.gov.in/, the official website of PMAY scheme.

1. Go the option titled ‘Citizen Assessment’ on the task bar.
2. Select the option ‘Track your Assessment status’ form the drop down menu under Citizen Assessment.

What is credit link subsidy Upsc?

The Credit Linked Subsidy Scheme is the only scheme under the Pradhan Mantri Awas Yojana (Urban) which is directly implemented by the Centre. Under this scheme, individuals purchasing a new affordable home can get an interest subsidy of 3-4 per cent on the amount borrowed, subject to some conditions.

What is the Credit Linked Subsidy Scheme?

Credit linked subsidy scheme. The credit linked subsidy scheme (CLSS) provides interest subsidy on housing loan availed by the urban poor and middle-income group. It was launched to make it affordable for poor and middle-class people to own a house.

What is a centrally sponsored subsidy scheme?

A centrally sponsored scheme is partly funded by the states and implemented by the State Government. Credit linked subsidy scheme. The credit linked subsidy scheme (CLSS) provides interest subsidy on housing loan availed by the urban poor and middle-income group.

What is Credit Linked Subsidy under SBI Housing Mission 2018?

SBI : 1800-11-2018 The Mission, in order to expand institutional credit flow to the housing needs of urban poor will implement credit linked subsidy component as a demand side intervention.

How to avail of CLSs subsidy scheme?

How to Avail of CLSS Subsidy Scheme? Begin by contacting the financial institutions covered under the PMAY scheme about your intention to avail a loan. They will then hand you the loan subsidy application, which you have to duly fill and submit along with the relevant documents.