If you want to build your house and you don’t have money then in such situation we want to get loan from bank but bank also give us home loan on good civil score then can’t poor man build his house.
It is not so, you can get loan under Pradhan Mantri Awas Yojana which is available under government schemes.
If you want to know how to get home loan to poor man? How to get loan in Pradhan Mantri Awas Yojana, then you must read this article till the end.
From which you will get complete information about the loan available in Pradhan Mantri Awas Yojana and you will be able to know how a poor man will get a home loan?
How to get a home loan to a poor man?
Poor man will get home loan through Pradhan Mantri Awas Yojana. You can fulfill your dream of owning a home by taking a home loan through the PM Awas Yojana. Earlier, through the housing scheme, home loans were given up to 6 lakhs, which has now been increased to 12 lakhs.
In this, the government also provides you a subsidy of up to 4%, which helps you to repay the loan amount. Time up to 20 years is given to repay the loan amount.
Through this scheme, the dream of citizens to build a house is fulfilled and under this scheme you can go to the bank and apply.
Let us know how to apply for Pradhan Mantri Awas Yojana by going to the bank?
How to get home loan under Pradhan Mantri Awas Yojana?
If you are a poor person and are unable to avail home loan from the bank, then you can get home loan from Awas Yojana, for that you have to follow the following steps –
- First of all, you have to go to your nearest bank, where home loan is given.
- After that you will have to get all the home loan information from the manager of that bank.
- After getting all the information about the home loan, you get the application form from the bank official.
- After that fill all the information given in the form correctly.
- After that attach the photocopies of all the documents sought with the phone.
- After that submit the home loan form to the bank, so that your phone can be verified.
- After the verification of your application form, if you are found eligible, then all the home loan process will be completed.
- After that, your home loan amount will be transferred to your given bank account in a few days.
- Thus, you can easily get a home loan under the Pradhan Mantri Awas Yojana by following a few steps.
Required eligibility for Prime Minister Awas Home Loan
Applicant must have Aadhaar Card.
The applicant must have a PAN card.
Applicant should have bank passbook.
It is mandatory for the applicant to have a residence certificate.
Applicant must have a working mobile number.
To avail a home loan, the minimum age of the applicant should be between 23 years and maximum 60 years.
The monthly income of the applicant should be at least ₹ 15000.
The applicant should not be a defaulter by any bank.
4 passport size photographs will be required to apply for the home loan.
The applicant should not have any outstanding loan in any bank.
It is mandatory for the applicant to be an Indian citizen.
Caste certificate should also be present with the applicant.
A guarantor will be required to avail the maximum loan, which will have to be signed on the application form while applying for the loan.
The applicant must have a regular source of income.
Purpose of giving loan under Pradhan Mantri Awas Yojana
In 2015, a scheme called Pradhan Mantri Awas Yojana was launched by the Government of India.
The target of Pradhan Mantri Awas Yojana was to provide affordable housing to all people by 2022.
The Ministry of Housing and Urban Poverty Alleviation had planned to complete Housing for All under the Pradhan Mantri Awas Yojana in June 2015.
To meet the demands of housing in India under Housing for All, an interest subsidy scheme was introduced to meet the needs of EWS LIG segment for purchase or construction or extension or improvement of house.
If you build your house as an extension of the Pradhan Mantri Awas Yojana, then you are given a subsidy benefit of up to 2.67 lakhs.
Which schemes of the government are giving loans to poor people?
At present, many schemes are being run by the Central Government to provide financial assistance to the poor people.
In which the main two schemes Pradhan Mantri Mudra Yojana and Pradhan Mantri Swarna Nidhi Yojana are being given to poor people to start their own business.
Through both these schemes, the applicant person can get a loan ranging from ₹ 10 thousand to ₹ 20 lakh.
To take a loan from Pradhan Mantri Mudra Yojana, you have to go to your nearest bank. After this, fill the application form there and attach it with the necessary documents and submit it to the bank officer.
After this the bank officials will check your documents always application form. If you are found eligible to take the loan, then you will easily get the loan under Pradhan Mantri Mudra Yojana in your given bank account.
On the other hand, if you want to apply under Pradhan Mantri Nidhi Yojana, then you can apply sitting at home by visiting its official website.
You have to select the loan option available there. After this, online verification will have to be done by filling your Aadhaar card number and PAN card number and a reference ID will be generated after that.
With which you can get an instant loan up to ₹ 10000 by depositing it in your nearest bank.
In today’s article, we have come to know that how a poor man will get a home loan? I hope that you have got information in this context by reading our today’s article.
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FAQ : Home Loan FAQs
How do poor people get loans?
Poor people can apply for loans ranging from ₹50000 to ₹1000000 from the bank under Shishu, Kishor and Tarun loan scheme of Mudra Yojana.
Can I avail a loan under Mudra Loan if my CIBIL score is not good?
Yes, you can take a loan under Mudra loan even with a bad civil score, because your civil score is not checked at the time of giving Mudra loan.
From where do the poor get loans?
Under the schemes launched by the government, the poor get loans from banks and financial institutions.