A brief intro about CLSS:
the Credit linked subsidy will be provided on home loans taken by eligible urban poor (EWS/LIG) for acquisition, construction of house.
Full Forms: Economically Weaker section (EWS) and Low Income Group (LIG) seeking housing loans from Banks, Housing Finance Companies and other such institutions would be eligible for an interest subsidy at the rate of 6.5 % for a tenure of 15 years or during tenure of loan whichever is lower.
The Net Present Value (NPV) of the interest subsidy will be calculated at a discount rate of 9 %.
The credit linked subsidy will be available only for loan amounts upto Rs 6 lakhs and additional loans beyond Rs. 6 lakhs, if any, will be at nonsubsidized rate. Interest subsidy will be credited upfront to the loan account of beneficiaries through lending institutions resulting in reduced effective housing loan and Equated Monthly Instalment (EMI).
CLSS Toll-Free Helpline Numbers
NHB: 1800-11-3377
1800-11-3388
HUDCO: 1800-11-6163
Credit linked subsidy would be available for housing loans availed for new construction and addition of rooms, kitchen, toilet etc. to existing dwellings as incremental housing. The carpet area of houses being constructed under this component of the mission should be upto 30 square metres and 60 square metres for EWS and LIG, respectively in order to avail of this credit linked subsidy.
The beneficiary, at his/her discretion, can build a house of larger area but interest subvention would be limited to first Rs. 6 lakh only.
Housing and Urban Development Corporation (HUDCO) and National Housing Bank (NHB) have been identified as Central Nodal Agencies (CNAs) to channelize this subsidy to the lending institutions and for monitoring the progress of this component. Ministry may notify other institutions as CNA in future.
Under the Mission, beneficiaries can take advantage under one component only.
Link: NPV Subsidy Calculator
Link: NPV Subsidy Calculator
Average calculator:
| Total Loan Amount (in Rs.) | 1,200,000.00 |
| Rate of Interest | 8.60 |
| Total Loan Period (in Months) | 140 |
| Number of EMIs | 140 |
| Subsidy Amount | 182,570.27 |
CLSS Toll-Free Helpline Numbers
NHB: 1800-11-3377
1800-11-3388
HUDCO: 1800-11-6163
Main document for reading:
List of Primary Lending Institutions(PLIs) who have signed the MoUs with Central Nodal Agencies (CNAs) as on 31-12-2016(size :.17MB)
Website: CLSS Website Link Click here
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