The rates of interest for advances sanctioned to the Government servants for purchase of conveyances
Government of India
Ministry of Finance
Department of Economic Affairs
New Delhi, the 3rd February, 2016
Subject : Advances to Government servants – Rate of interest for purchase of conveyances during 2015-2016.
The undersigned is directed to state that the rates of interest for advances sanctioned to the Government servants for purchase of conveyances during 2015-2016 i.e. from 1st April, 2015 to 31st March, 2016 are as under:
Rate of interest per annum
(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%
The rates remain unchanged from those applicable for the financial year 2014-15.
Under Secretary (Budget)