SBI PMAY Home Loan Eligibility List 2025: Pradhan Mantri Awas Yojana (PMAY) is a government initiative aimed at providing housing with essential amenities to every eligible family. The State Bank of India (SBI) plays a major role in this program by offering home loans under PMAY to help achieve these objectives.
This credit linked subsidy scheme enables eligible candidates to receive interest subsidies on home loans. Interested individuals can apply for the PMAY home loan scheme online via the official SBI website.
Overview of SBI PMAY Home Loan Eligibility
| Name of Scheme | Pradhan Mantri Awas Yojana |
| Article | Subsidy on Home Loan |
| Launched by | Government of India Ministry of Housing and Urban Affairs (MoHUA) |
| Bank providing PMAY Home Loan | State Bank of India (SBI) |
| Eligibility Criteria List | PMAY Eligibility Criteria List for Subsidy |
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| SBI IFSC Code List | All Bank IFSC Code List Excel PDF |
| SBI Home Loan Documents List | SBI Home Loan Documents List 2023 PDF |
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| Official Website | https://homeloans.sbi |
Eligibility Criteria for SBI PMAY Home Loan
The eligibility criteria for SBI PMAY Home Loan are as follows:
a. Households with an annual income between Rs. 6,00,001 to Rs. 12 lakh qualify as MIG-I.
b. Households with an annual income from Rs. 12,00,001 to Rs. 18 lakh qualify as MIG-II.
- A household is defined as a family including a husband, wife, and unmarried children. An earning adult (regardless of marital status) can apply independently.
- If married, either spouse or both together can own a single house subject to the household's eligibility.
- The beneficiary family should not own a pucca house under their name or any family member's name anywhere in India.
- The maximum carpet area of the house under this scheme is limited to 160 sq. mts. for MIG-I and 200 sq. mts. for MIG-II beneficiaries.
- Banks must submit a completion certificate within a year of the housing unit's completion or a maximum of 36 months from the loan disbursement's first installment.
- A borrower who avails of the benefit once and later switches banks is not eligible for the subsidy again.
- Home loans can be availed through Term loan or Maxgain (for loan limits of Rs. 20 lakh and above) with a maximum tenure of 30 years, while subsidy is applicable for a maximum of 20 years.
- Interest subvention under CLSS (MIG) is available for loans up to Rs. 9 or 12 lakh, with amounts above Rs. 9 to 12 lakh sanctioned based on existing Home Loan Scheme criteria.
Eligibility and Guidelines for EWS & LIG under SBI PMAY
Following are the guidelines for SBI PMAY home loan eligibility for EWS and LIG:
| Criteria | Existing Instructions (CLSS – EWS + LIG) | Revised Instructions (CLSS – EWS + LIG) |
|---|---|---|
| Household/ Annual Income (Rs) | Upto Rs. 6 lakhs | Upto Rs. 6 lakhs |
| Property Area (Carpet Area) | 30 sqm for EWS and 60 sqm for LIG | 30 sqm for EWS and 60 sqm for LIG |
| Location | 17778 towns | 17778 towns |
| Woman Ownership | Yes (except for construction) | Yes (except for construction) |
| Max Loan Amount for Subsidy | Upto 6 lakhs | Upto 6 lakhs |
| Subsidy Rate | 6.50% | 6.50% |
| Subsidy Amount | Rs. 2.20 lakhs | Rs. 2.67 lakhs |
| Net Present Value (NPV) | 9% | 9% |
| Max Loan term (for subsidy calculations) | 15 yrs | 20 yrs |
| Property should be Family’s | 1st home** | 1st home** |
| Validity | 2022 | 2022 |
| Applicability | Loans approved on or after 17/06/2015 | Loans approved on or after 01/01/2017 |
For additional details on SBI PMAY home loan eligibility and subsidy, visit the official SBI Home loan website.
Read Also:
PMAY Documents Required List for Pradhan Mantri Awas Yojana