The rate of interest and rules for the year 2012-2013 for Loans and Advances of the State Govt has been fixed by West Bengal Government vide letter dated 2211-F.B. dated 25 March 2013 for seven types of loans as mentioned therein.
The rules are as under:
(a) For timely payment, no rebate will be given.
(b) The recovery is to be affected from the completion of first year from the date of drawal of loan, if the date of payment is not extended. The maximum time limit for repayment should not exceed 10 years. As regards, working capital, the repayment should be completed within 2 to 3 years and should not exceed 5 years.
The rules are as under:
(a) For timely payment, no rebate will be given.
(b) The recovery is to be affected from the completion of first year from the date of drawal of loan, if the date of payment is not extended. The maximum time limit for repayment should not exceed 10 years. As regards, working capital, the repayment should be completed within 2 to 3 years and should not exceed 5 years.
