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Car and Motor Cycle Advance Interest for the year 2015-16 – Finance Ministry Orders

Car and Motor Cycle Advance – Rate of Interest for 2015-16 in respect of Four Wheeler and Two Wheeler Loan extended by Govt to Central Government Employees

Advances for Car and Two wheeler - Interest Rates fixed by Govt

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 11.50%

The rates remain unchanged from those applicable for the financial year 2014-15.

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

Advances to Government servants — Rate of interest for purchase of conveyances during 2015-2016

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