Rate of Interest for Advances for purchasing Motor cycle, Scooter and Car

The rates of interest for advances sanctioned to the Government servants for purchase of conveyances

F.No.5(2)-B(PD)/2015
Government of India
Ministry of Finance
Department of Economic Affairs

New Delhi, the 3rd February, 2016

OFFICE MEMORANDUM

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.

sd/-
(A.K. Bhatnagar)
Under Secretary (Budget)

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