Good news if you want to buy your own house that this government scheme can help. Government has launched several many schemes but this scheme has the top most priority as under Pradhan Mantri Awas Yojana government is providing affordable housing units all across India to the poor and needy people. Also under Union Budget plan this year Pradhan Mantri awas yojana has been modified to provide more cheap housing units under the scheme. The concession on the loan, according to the income category has been added. It’s also good news that the first home buying middle class consumers will save nearly five lakh. The home loan (mortgage) on the interest payment will be in addition to the deductions claimed. Presenting a report of the Business Desk …
How much will be left upto six million income
According to official figures from government banks 70 per cent of banks’ home loans are up to Rs 25 lakh debt. According to the changes in the budget on home loan of Rs six lakh Rs 6.5 per cent interest subsidy will be provided.And on home loan of Rs 25 lakh on the interest of Rs six lakh to 8.50 percent than whole subsidy will be 2% after deducting interest rate on 6 lakh. In 20 years it will save nearly 5 million rupees. The remaining interest on Rs 19 lakh will 8.50%.
मकान की कीमत 35 लाख रुपये है और आप उसके लिए 25 लाख रुपये कर्ज लेते हैं तो 8.50 ब्याज पर कुल मासिक किस्त 21,696 रुपये होगी। लेकिन इसमें छह लाख रुपये के कर्ज पर 8.50 फीसदी की जगह महज दो फीसदी ब्याज लगेगा तो इस रकम की ईएमआई 2,172 रुपये होगी। जबकि 8.50 फीसदी ब्याज पर 5,207 रुपये होती। इस तरह ब्याज सब्सिडी की वजह से ईएमआई 3,035 रुपये जाएगी।
How much EMI will reduce
If the whole cost of hosue is Rs 35 lakh and you take loan Rs 25 lakh on interest 8.50 Total monthly installment be Rs 21 696. But instead of 8.50 percent on a loan of six million would have only two per cent of this amount will be Rs 2,172 EMI. Rs 5,207 on the 8.50 percent interest. EMI will be Rs 3,035 due to the interest subsidy.
EMI at 8.50 percent interest on the remaining Rs 19 lakh will be Rs 16 489. Your final EMI will be Rs 19 524 after the discount. Reduction in EMI of Rs 2,172 to Rs 5.21 lakh in 20 years your savings will be.
Higher income exemption Kmis interest subsidy scheme is an annual income of Rs 12 lakh to Rs nine four per cent subsidy on home loans. 8.50 percent will pay interest on the balance. Similarly, income of Rs 18 lakh to Rs 12 lakh, three per cent subsidy on home loans.