The Centre’s credit-linked interest subsidy scheme for housing loans taken by people in mid-income groups has been made effective from January 1 under which EMIs will go down by over Rs 2,000 per month. PM Narendra Modi had on December 31 last year announced Credit Linked Subsidy Scheme for Middle Income Groups -- CLSS(MIG).
PTI
NEW DELHI
Under it, interest subsidy of 4% on housing loans of up to Rs 9 lakh for those with an income of Rs 12 lakh per year and of 3% on housing loans of up to Rs 12 lakh for those having an income of Rs 18 lakh per year will be given.
At an event where ‘Operational Guidelines for CLSS (MIG)’ were released, National Housing Bank MD and CEO Sriram Kalyanaraman said EMIs for middle income group beneficiaries will lower the repayment burden by over Rs 2,000 per month. With the scheme coming into effect from January 1, those sanctioned home loans and whose applications are under consideration will be eligible for interest subsidy of up to Rs 2.35 lakh.
