Revised Rate of Interest for Car and Motor Cycle Advance

F.No. 5(2)-B(PD)/2012

Government of India

Ministry of Finance

Department of Economic Affairs

New Delhi, the 7th January, 2013

OFFICE MEMORANDUM

Subject : Advances to Government servants – Rate of interest for purchase of conveyancesduring 2012-2013.

The undersigned is directed to state that the rates of interest for advances sanctioned to the Government servants for purchase of conveyances during 2012-2013 i.e. from 1st April, 2012 to 31st March, 2013 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%