Interest Rate on Advances to Central Government Staff - Revision

      Govt. of India, Ministry of Finance vide its memo no. 

5(2) - B(PD)/2012 dated 07.01.2013 had revised the rate of interest on the following advances available to central government employees. Memo is reproduced below

       The undersigned is directed to state that the rates of interest for advances sanctioned to the Government servants for purchase of conveyances during 2012-2013 i.e. from1st April, 2012 to 31st March, 2013 are revised as under


(i)         Advance for purchase of conveyance other than
motor car (viz. motor cycle, scooter etc.)                             9%
 
(ii)       Advance for purchase of motor car                      11.5%

(A.K. Bhatnagar)
Under Secretary (Budget)