HOUSE BUILDING ADVANCE INTEREST REDUCED FROM
8.5% TO 7.9% FOR A PERIOD OF ONE YEAR
Press Information Bureau
Government of India
Ministry of Housing and Urban
Poverty Alleviation
03-October-2019 19:02 IST
House Building Advance Reduced from 8.5% to 7.9% for a Period of One
Year
The
rate of interest on House Building Advance [HBA] has been reduced from existing
8.5% to 7.9% for a period of one year, irrespective of the loan amount of HBA.
This will be with effect from 01st October 2019.
HBA is
admissible to permanent employees and all those temporary employees also who
have rendered 05 years of continuous service.
The
Ministries/Departments are delegated powers to sanction House Building Advance
to their employees in accordance with the HBA rules.
The
scheme of HBA to Central Government Employees is aimed as a welfare measure
providing assistance to the Government employees to construct/acquire
house/flats of their own.
RJ/PS Source:
PIB News: 03 Oct, 2019
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