How does housing subsidy benefit you?
Under the Credit Linked Subsidy Scheme, the benefit gets credited to the loan account upfront, reducing the outstanding loan amount and the EMIs
The subsidy amount varies by the category of borrower, amount and tenure of the loan and the interest rate
If you were planning to buy a house but held back in view of the ongoing covid-19 crisis, the government is willing to give a helping hand. At a press conference held last week, finance minister Nirmala Sitharaman announced the extension of the government’s housing subsidy scheme for households that fall under the middle-income group (MIG).