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
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