HOUSE BUILDING ADVANCE. RATES OF INTEREST FOR CENTRAL GOVT EMPLOYEES TO PURCHASE OR CONSTRUCT HOUSES

No.1-17011/2(6)/2013-H.III

Ministry of Urban Development

(Housing-III Section)

*******

 Nirman Bhawan, New Delhi.

 Dated:- the 17th January, 2013

OFFICE MEMORANDUM

 Subject:- Rates of interest on advances and loans to Govt. employees, for construction/purchase of houses/flats.

 The undersigned is directed to enclose herewith a copy of Ministry of Finance, Deptt. of Expenditure's O.M. No. 5(3)-B(PD)/2012 dated the 3rd January 2013 intimating the rates of interest on advances and loans given to Government employees for construction/purchase of houses/flats during 2012-13 i.e. 1st April, 2012 to 31St March, 2013 and until further orders, for information and compliance.

 Sd/-

 (S.K.Ram)

 Dy. Financial Adviser

No.5(3)-B(PD)/2012

Government of India

Ministry of Finance

Department of Economic Affairs

(Budget Division)

 Room No. 263-B, North Block,

 New Delhi dated the 3rd January, 2013.

Office Memorandum

        The undersigned is directed to state that the rates of interest on advances and loans given to Government employees for construction/purchase of houses/flats during 2012-13 i.e. 1st April, 2012 to 31st March, 2013 and until further orders will be as under:-

Slab                                       Interest Rate  percent per annum

 Advance upto Rs. 50,000/-        6.00

 Advance uto Rs. 1,50,000/-       7.50

 Advance upto  Rs. 500,000/-      9.00

 Advance upto  Rs. 7,50,000/-     9.50

          Ministry of Urban Development is requested to issue separate O.M. at their level on the above issue.

 This issues with the approval of Flon'bie Finance Minister.

 Sd/-

 (A.K. Bhatnagar)

 Under Secretary (Budget)

 Source:http://urbanindia.nic.in/writereaddata/office%20orders/568.pdf