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
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)