Housing minister launches portal for subsidy scheme under PMAY

CLSS Awas Portal through which people seeking to avail housing subsidy under the Pradhan Mantri Awas Yojna (PMAY)-Urban will be able to track their applications. At the launch of the Credit Link Subsidy Scheme (CLSS) Awas Yojana, the union housing and urban affairs minister said that grievances of beneficiaries will be addressed in a comprehensive and organised manner. Under CLSS, the Centre provides interest subsidy of up to around Rs 2.67 lakh on home loans to individuals, which reduces the principal outstanding amount of the loan. Memorandum of Agreements (MoAs) for Light House Projects under GHTC-India were also signed between the ministry and six states— Gujarat, Jharkhand, Madhya Pradesh, Tamil Nadu, Tripura and Uttar Pradesh. Puri expressed his appreciation to the state governments for construction of light house projects at Indore, Rajkot, Chennai, Ranchi, Agartala and Lucknow. For LHPs, the ministry has introduced a technology innovation grant as an additional grant of Rs 2 lakh per house which is over and above of the existing share of Rs 1.5 lakh per house under PMAY(U).

How to get a lower interest rate on a personal loan

Generally before sanctioning a personal loan, lenders consider many factors such as the loan amount you have applied for, your repayment capacity and maybe even the company you are working for. Interest rates on personal loans are usually higher than those on others like home and auto loans. Therefore, when applying for a personal loan, try and get one at the lowest interest rate feasible, given other constraints. Here are six ways to get a better interest rate.

  1. Maintain Healthy CIBIL Score
  2. Maintain Good Repayment History
  3. Compare Interest rates, Choose the Best One
  4. Check Interest Rates on Calculation Basis.
  5. Credibility of the Employer
  6. Your Employment History

1. It is prudent to check what the personal loan offers. Basically, one should check the service terms offered by various lenders before zeroing in on any lender. Make sure you base your decision not only on the interest rate offered but also on loan tenure, processing fee, prepayment charges, loan amount etc.

2. The lender may not give you a good deal if you have already taken too many loans. Also, if your CIBIL score is below 700, then it can even lead to rejection of your personal loan application.

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