PMAY Subsidiary Calculator

Dream of Home, made affordable for all

PMAY – EMI Calculator

Owning a house is a dream for many, and the Pradhan Mantri Awas Yojana (PMAY) allows you to realise this dream by getting a home loan at a subsidised interest rate. Apply Now for a home loan with Poonawalla Housing Finance to avail of an interest subsidy of up to ₹ 2.67 lakh (6.5% per annum) under the Credit Linked Subsidy Scheme (CLSS) of the PMAY.

  • 0
  • 3
  • 6
  • 9
  • 12
  • 15
  • 18
  • 0
  • 5
  • 10
  • 15
  • 20
  • 25
  • 30
Calendar Logo
  • 36
  • 90
  • 144
  • 198
  • 252
  • 306
  • 360
  • 0
  • 40
  • 80
  • 120
  • 160
  • 200

Is this your First pucca House?

  • Subsidy Category

    Middle Income Group (MIG)
  • Subsidy Amount


You can use our online PMAY Subsidy calculator to calculate your PMAY subsidy benefits and home loan EMIs instantly. It can help you determine your subsidy amount and monthly EMIs in advance and decide accordingly.

Below are the steps to use our home loan subsidy calculator:

Step 1 – Visit the Subsidy Calculator page on our website

Step 2 – Enter your “Annual Family Income”. In order to be eligible for the PMAY scheme, your annual family income should be below ₹ 18 lakh

Step 3 – Enter the home loan amount you wish to avail. Under the PMAY scheme, you can avail of a home loan of up to ₹ 30 lakh

Step 4 – Enter the tenure in which you want to repay your home loan. The tenure for your home loan should be between 6 months and 20 years

Step 5 – Enter the carpet area of your house. The maximum carpet area permissible under the PMAY scheme is 200 square meters

Step 6 – Check whether this would be your first pucca house or not. Only first-time homebuyers are eligible for the PMAY scheme

Step 7 – Your subsidy category and subsidy amount will be displayed on the right-hand side

Step 8 – Go to our Home Loan EMI Calculator page and enter your loan amount, subsidised rate of interest, and tenor to know your home loan EMIs

The EMIs that you need to pay every month towards your PMAY Home Loan depends upon several factors:

Sanctioned loan amount
Your loan amount is directly proportional to the EMIs you need to pay. The larger the home loan amount, the higher will be your monthly EMIs.

Rate of interest
The rate of interest charged by the lender impacts your home loan EMIs directly. By availing of the CLSS benefits under the PMAY scheme, you can get a home loan at a subsidised interest rate and subsequently lower your EMIs significantly.

Annual Household income
Your annual household income determines the maximum home loan subsidy you can get under the PMAY scheme, and hence, it impacts your home loan EMIs as well. As per your annual family income, you can get a maximum subsidy of ₹ 2.67 lakh (6.5% per annum) under the PMAY scheme.

Home loan tenure
Your home loan tenure also plays a role in determining your EMIs. By increasing your loan tenure, you can decrease your monthly EMIs and vice-versa. Under the PMAY scheme, the maximum tenure of your home loan can be of 20 years.

Different methods to calculate your Home Loan EMIs

You can use three different methods to calculate your PMAY home loan EMIs:

Calculate manually

Use the following formula to calculate your home loan EMIs manually:

EMI = [P x R x (1+R) ^ N] / [(1+R) ^ (N-1)]

Here, “P” denotes the home loan amount, “R” denotes the monthly interest rate, and “N” denotes the tenure in months

Online calculator
You can use our online calculators to evaluate your home loan subsidy and home loan EMIs within a few seconds. Our online calculators are simple and user-friendly. All you need to do is enter your loan amount, annual household income, applicable interest rate and tenure, and the results will be displayed instantly.

Microsoft Excel
You can also use the Microsoft Excel program to calculate your home loan EMIs. You need to choose a cell on the Excel sheet, select the “PMT” Formula, and enter the data in the following variables:

  • - NPER: Home loan tenure in months
  • - Rate: Applicable monthly interest rate
  • - PV: Principal value or loan amount

1. How can I access the Poonawalla Housing Finance PMAY calculator?
Our PMAY calculator is easily accessible online, and you can visit our website and click on the “Subsidy Calculator” tab on the PMAY page. Then, enter your annual household income, home loan amount, tenure, and the carpet area to know your subsidy amount and category.

2. Why should I use an online PMAY calculator?
Our online PMAY calculator and EMI calculator helps you determine your home loan subsidy amount and your home loan EMIs. By knowing these things in advance, you can take an informed decision and plan your finances accordingly.

3. Do I need to pay a fee for using an online EMI calculator?
Not at all. Our online calculators are completely free, and you can use them anytime and from anywhere to know your subsidy amount and home loan EMIs. Moreover, you can use these calculators as many times as you want.

4. Do I need to submit any documents for using these calculators?
You are not required to submit anything to use our online calculators. However, if you wish to apply for a home loan under the PMAY scheme with us, you will have to submit a few essential documents, such as your ID proof, Address proof, Income proof, and property documents.


Blogs For You

Calling logo Get a Call Back Apply Now logo Apply Now