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    Friday, 5 February 2016

    ADVANCES (LOANS) TO GOVERNMENT SERVANTS — RATE OF INTEREST FOR PURCHASE OF CONVEYANCES DURING 2015-2016: FIN MIN ORDER

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

    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)
    To
    1. All Ministries/Departments of the Government of India with spare copies for Integrated Finance Division (IFD), Controller of Accounts and Pay and Accounts Offices.

    2. Finance Secretaries of UTs without legislature.

    Source:- finmin.nic.in

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