Advances to Government servants — Rate of interest for purchase of conveyances during 2011-2012.

F.No. 5(2)-B(PD)/2011
Government of India
Ministry of Finance
Department of Economic Affairs

New Delhi, the 19th March, 2012

OFFICE  MEMORANDUM

Subject :- Advances to Government servants — Rate of interest for purchase of conveyances during 2011-2012.

   The undersigned is directed to state that the rates of interest for advances sanctioned to the Government servants for purchase of conveyances during 2011-2012 i.e. from 1st April, 2011 to 31st March, 2012 are revised 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%

sd/-
(A.K. Bhatnagar)
Under Secretary (Budget)

Source:http://finmin.nic.in/the_ministry/dept_eco_affairs/budget/RoIPurchConvey11.pdf