HUDCO Ties Up With EPFO To Aid Buyers Avail Home Loan Subsidy

In a move to help home buyers avail subsidy and interest subvention under the Pradhan Mantri Awas Yojana (PMAY), EPFO and HUDCO are going to ink an agreement on Thursday.

The retirement fund body, allow its subscribers to withdraw upto 90% of their EPF accumulations to buy homes under the PMAY scheme.

Accordingly, a MoU will be signed in the presence of Labour Minister Bandaru Dattatreya and Housing & Urban Poverty Alleviation Minister M Venkaiah Naidu, reported a news agency.

In the next two years, the labour ministry anticipates allowing at least 10 lakh EPFO subscribers to use 90% of EPF accumulations to make down payments to buy houses and use their accounts for paying EMIs of their home loans.

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