State

Limit prescribed for loans and advances for the employees of the State Government

Haryana Government has prescribed the limit of various kinds of loans and advances available for the employees of the State Government like House Building Advance, Marriage, vehicle and computer loan on the basis of the recommendation of Seventh Pay Commission.
Informing this here today, the Finance Minister, Capt Abhimanyu said that the Government employee would now be eligible for 34 months basic pay to a maximum ceiling of Rs 25 lakh for construction of house or purchase of Built up house allotted by the Government agencies or any other registered societies or through private source, whichever was less.  Earlier the employees were entitled to House Building Advance of 40 months basic pay subject to maximum of Rs 15 lakh for this purpose. As per the recommendation of Seventh pay Commission, they would not be allowed for second house building advance (HBA), he added.
He said that now for the purchase of plot, the state employees would be entitled for 60 per cent of the total admissibility of House Building Advance, which is 20 months basic pay, in any pay matrix, subject to maximum of Rs 15 lakh and maximum of Rs ten lakh for the construction on that plot. Earlier, the employees were entitled to Rs nine lakh for the purchase of plot.
He said that similarly, for the extension of house, the employees will get ten months basic pay, in any matrix, subject to a maximum ceiling of Rs five lakh. He said that advance for the extension of house to those, who had not obtained any house building advance from Government earlier would be allowed after the expiry of three years of the date of purchase of house or taking possession thereof, whichever was later. In case of employees, who had taken a House Building Advance earlier from the Government, this advance would be allowed after five years of the start of the drawls of the earlier advance.  He said that earlier the employees were admissible 12 months pay subject to maximum of Rs 3.50 lakh after five years from HBA for extension of house.
For repair of house, the employees would get ten months basic pay, in any matrix, subject to a maximum ceiling of Rs five lakh. He said that advance for the repair of house to those who had not obtained any house building advance from Government earlier would be allowed after the expiry of five years of the date of purchase of house or taking possession thereof, whichever was later. In case of employees, who had taken a House Building Advance earlier from the Government, this advance would be allowed after seven years of the start of the drawls of the earlier advance.  He said that earlier the employees were admissible 10 months pay subject to maximum of Rs three lakh after seven years from HBA for repair of House.
He said that the employees would be entitled for ten months basic pay subject to a ceiling of Rs three lakh, whichever was less for the marriage of their sons, daughters, dependent sisters and self marriage and available for two marriages only whereas earlier they were getting ten months basic pay subject to maximum of Rs 1.25 lakh as marriage loan.
He said that for motor car loan, the employees drawing revised pay of Rs 45000 and above, in any pay matrix, would be eligible for this advance whereas earlier  employees drawing revised pay of Rs 18000 and above in any pay band were eligible for this advance.
The employees would get loan for motor car equal to 15 months basic pay subject to a maximum ceiling of Rs 6.50 lakh or 85 per cent of the actual price of the motor car, whichever was less. On first loan in this category the rate of interest would be equal to that of GPF, on drawing second time and third time the rate of interest would be increased to two per cent and four per cent respectively.
He said that the motor or scooter loan could be applied only for purchasing a new motor cycle or scooter. The employees would get Rs fifty thousand for motor cycle and Rs forty thousand for scooter or actual price of the vehicle, whichever was less. On first loan in this category the rate of interest would be equal to that of GPF, on drawing second time and third time the rate of interest would be increased to two per cent and four per cent respectively. Similarly, cycle loan would be applied only for purchasing a new cycle and they would get Rs four thousand or actual price of bicycle, whichever was less and the rate of interest would be equal to that of GPF. The second and third advance would be available at the same rate of interest prescribed for the first bicycle advance by the State Government.  Earlier the cycle loan was only Rs 2500 or actual cost of the bicycle.
Capt Abhimanyu said that as computer loan, they would get Rs fifty thousand or actual price of computer or laptop, whichever was less. The second and third loan would be granted if the previous loan had been completely recovered and no objection certificate had been obtained and the rate of interest would be equal to that of GPF on all advances.

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