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

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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.

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

Source:- finmin.nic.in
[http://finmin.nic.in/the_ministry/dept_eco_affairs/budget/OMAdvGovtSerROI03022016.pdf]

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