Credit Information Bureau (India) Limited, commonly known as CIBIL™, is India’s first Credit
Information Company or Credit Bureau. It maintains records of all credit-related activity of
and companies including loans and credit cards. The records are submitted to CIBIL™ by
registered member banks and other financial institutions on a periodic (usually monthly) basis.
this data, CIBIL™ issues a Credit Information Report or CIR (commonly referred to as a credit
and a credit score.
CIBIL™ was founded in 2000 in order to bring greater efficiency and transparency in the credit space.
TransUnion International (a global credit bureau) and Dun and Bradstreet (a global provider of
information) are technical partners of CIBIL™ in India. CIBIL™’s mission is “To catalyze growth of
Credit in India through: solutions that enable well informed Credit decisions; technology that
superior information availability; and people that provide high quality services.” It has an ISO
rating, which is the highest security standard in the world.
Shareholders in CIBIL™ include TransUnion International, ICICI, SBI, IOB, HSBC, Union Bank of India,
of India, Bank of Baroda, and Allahabad Bank.
CIBIL™ has two focus areas: A Consumer Bureau that deals with consumer credit
and a Commercial Bureau that deals with the records of companies and institutions.
It is important to note that CIBIL™ is a database of credit information. It does not make any
lending decisions. It provides data to banks and other lenders who use it as a quick and efficient
resource to filter loan applications.
Pradhan Mantri Awas Yojana is a scheme by Government of India to ensure “Housing for all by 2022’’.
this, there is a Credit Linked Subsidy Scheme on home loans for properties in urban
market belonging to Economically Weaker Section (EWS), Low Income Group (LIG) and Middle Income
& 2 (MIG). It can be availed for new or resale purchase of home, construction, or for extension
improvement of rooms, kitchen, toilet etc.
Well you might wish to know who is eligible for this scheme?
The eligibility is dependent on the income group you fall in.
||Annual Household Income
||Up to ` 3 Lacs
||` 3.01 to ` 6 Lacs
||` 6.01 to ` 12 Lacs
||` 12.01 to ` 18 Lacs
For EWS and LIG, it is mandatory for a female to be the property owner. In certain exception cases,
lender may inform you. Also, the applicant or its dependents should be a first time home buyer and
should not own a pucca property at the time of availing the scheme.
What are the benefits and subsidy offered in this Yojana?
The subsidy offered is dependent upon the loan amount and the income group you fall in.
Applicants with income up to ` 6 Lacs, can avail a maximum subsidy of
Applicants with income up to `12 Lacs, can avail a maximum subsidy of
Applicants with income up to `18 Lacs, can avail a maximum subsidy of
||Subsidy on maximum Loan Amount
||Interest Subsidy (%)
||Maximum Subsidy Tenure
|Max. Subsidy amount
|Up to ` 3 Lacs
||` 6 Lacs
||` 2.67 lacs
|Above ` 3 Lacs up to
` 6 Lacs
||` 6 Lacs
||` 2.67 lacs
|Above ` 6 Lacs up to
` 12 Lacs
||` 9 Lacs
||` 2.35 lacs
|Above ` 12 Lacs up to
` 18 Lacs
||` 12 Lacs
||` 2.30 lacs
What are the documents required for this scheme?
The documents required are very basic like:
- KYC Documents & Photograph
- Aadhar Card is mandatory
- Salary slip or Certificate & updated bank statement for salaried applicants
- Income Tax Returns of last two years and bank statement for self employed applicants
- Self-certificate/affidavit as proof of income
- Customer declaration undertaking
- Additional Application form
How do I avail this scheme?
You can visit us or any bank & enquire about the Pradhan Mantri Awas Yojana scheme.
It is advisable to go for resale flats who are looking for quick exit. In this you can bargain and can
get upto 10% discount then market rate.
You can hunt for new homes who are giving exclusive discount or giving lesser rates then competitor,
Research & Patience will be key.
Another option is buying an underconstruction property & selling when property is ready. It is always
advisable to go with reputed builders who has good past track record.
Housing property market looks good as it has great potential to grow as the government is planning for
home for all.