What is a Credit Linked Subsidy Scheme


Chennai
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Description
The PMAY Program offers the Credit Linked Subsidy Scheme (CLSS), which enables members of the Economically Weaker Section (EWS), Low Income Group (LIG), and Medium Income Group (MIG) to get EMIs for house loans reduced thanks to an interest subsidy.
The beneficiary will receive an upfront credit for the interest subsidy on the principal amount, which would lower the effective home loan and EMI.
The Credit Linked Subsidy Scheme (CLSS) under PMAY makes the mortgage affordable by providing a subsidy on the interest component, which lowers the customer’s outflow on the mortgage.
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