Aashray Home Loan for EWS & LIG in Urban Areas

Aashray Home Loan for EWS & LIG in Urban Areas

Aashray home loan is available to individuals with regular but minimal or nil documented source of income in urban areas i.e for individuals do not have documented income proof, but they have digital footprints of income. The scheme covers individuals as below:

  • Small traders, Shopkeepers, Skilled and Semi-skilled Workers/ Artisans in unorganized sector.
  • Members of SHGs, beneficiaries of PM SVANidhi, PM Vishwakarma, PMMY,SUI scheme.
  • All beneficiary groups under PMAY (U) 2.0.

    • For purchase or construction of first home
    • Regular Income but without documented income proof
    • Low Interest Rates
    • Nil Processing fee
    • Interest on daily reducing Balance
    • Maximum Loan Amount Rs. 20 Lakh (maximum project cost Rs 45.00 lakh in Metro and Rs 30 lakh in other centres)
    • Login through JanSamarth Portal
    • Eligibility for interest subsidy as per PMAY (U) 2.0 scheme
    • Individuals with regular source of income but without formal income proof
    • Resident Type: Resident Indian
    • Family having no pucca house anywhere in the country
    • Gross annual household Income up to Rs. 6 lacs.
    • A satisfactorily maintained running Bank Account / UPI transaction history for a minimum period of 24 months.
    • Age of entry: Minimum- 21 years and Maximum-60 years
    • Maximum Carpet Area up to 60 Sqm
    • Beneficiary has not been allotted house under any of the housing scheme of Central / State/UT /Local Government in last 20 years
    Home Loan interest rate starting at 8.25% to 8.50% based on CIBIL.

    Fees

    • Processing Fee - No processing fees

    List of papers/ documents applicable to all applicants:

    • Loan Application: Completed loan application form duly filled in affixed with 3 Passport size photographs
    • In case of PMAY eligibility reference no generated at PMAY-U 2.0 Portal of MoHUA and Pradhan Mantri Awas Yojana – Urban 2.0 (PMAY-U 2.0): Self-Undertaking by Beneficiary under ISS
    • Proof of Identity: Aadhar Card/Pan Card
    • Proof of Residence/ Address (Anyone): Recent copy of Telephone Bill/ Electricity Bill/Water Bill/ Piped Gas Bill or copy of Passport/ Driving License/ Aadhar Card

    Property Papers:

    • Registered Sale deed/ Stamped Agreement to sale and link documents for tracing of title
    • Occupancy Certificate
    • Share Certificate (only for Maharashtra), Maintenance Bill, Electricity Bill, Property Tax Receipt
    • Approved Plan copy (Xerox Blueprint) and Registered Development Agreement of the builder, Conveyance Deed

    Account Statement:

    • Last 24 months Bank Account Statements for all Bank Accounts held by the applicant/s
    • GST returns wherever available

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