about image
welcome to Orange City Housing Finance Ltd

Credit Linked Subsidy Scheme

Owning a home is a matter of great pride. Everything you need to know to avail home loan is right here. We believe that when it comes to home nothing should come in way. Thus you can assured of fair terms, transparency and Flexibility.

Amount of Loan

The Credit Linked Subsidy Scheme(CLSS) under Pradhan Mantri Awas Yojana (PMAY) was announced by our Honourable Prime Minister Shri Narendra Modi. The scheme envisages the vision of housing for all by the year 2022. OCHFL offers "Credit Linked Subsidy Scheme" under Pradhan Mantri Awas Yojana Under this scheme, interest subsidy on purchase/ construction/ extension/ improvement of house is provided to customers belonging to Economical Weaker Section (EWS)/Lower Income Group (LIG)/Middle Income Group (MIG).

why choose image
shape

Beneficiaries

The scheme is offered to families, comprising of husband, wife and unmarried children. (An adult earning member irrespective of marital status can be treated as a separate household in MIG category)

The family should not own a pucca house in his/ her name or in the name of any member of the family, in any part of India

Features

  • Upfront interest subsidy benefit on principal outstanding
  • Aadhaar number(s) of the beneficiary family are mandatory for MIG category
  • Interest subsidy will be available for a maximum loan tenure of 20 years or the loan tenure availed by the borrower whichever is lower
  • There is no cap on the loan amount or on the cost of property.
  • The Net Present Value (NPV) of the interest subsidy will be calculated at a discount rate of 9 %.
  • The additional loan beyond the specified limits, if any to be at non-subsidized rate.
back top