Revised rates of interest on House Building Advance

Revised rates of interest on House Building Advances

The new and revised rates of interest on loans and advances…

The Finance Department of West Bengal has directed through an office letter on 30th March 2012 pertaining that the rates of interest on loans and advances to government servants.

The new rates of interest to fix on loans taken by the government staff during the year 2011-12.

The below table is indicated the rate of interest for the amount of House Building Advance during the year 2011-2012…

Advances	Rate of Interest per annum
House Building Advance (i) Up to Rs.50,000/-	5%
(ii) Up to Rs.1,50,000/-	6.5%
(iii) Up to Rs.5,00,000/-	8.5%
(iv) Up to Rs.7,50,000/-	9.5%
Motor Car  2. Advance for purchase of Motor Car	11.5%
Motor Cycle, Scooter and Moped 3. Advance for purchase of conveyance other than Motor Car (Viz. Motor Cycle, Scooter and Moped)	8%
Personal Computer 4. Advance to officers of All India Services/State Services for purchase of Personal Computer	11.5%
5. Advance for purchase of Other Conveyance (Other than item 2 & 3)	5.5%
6. Other Advances (i.e. advances in connection with marriage, illness, etc., and advances for other purposes) including passage advance	5.5%

source : http://centralgovernmentemployeesnews.in