Haryana Govt. Rate of interest to be charged on Various Loans and Advances.

No. 34/2/94-WM (3)

From
Principal Secretary to Government, Haryana,
Finance Department.

To
1. All Heads of Departments in Haryana.
2. The Registrar, Punjab and Haryana High Court &
All District & Session Judges in Haryana State.
3. All Commissioners of Divisions,
Deputy Commissioners & S.D.Os. (Civil) in Haryana.

Dated, Chandigarh the 16th July, 2012.

Subject: - Rate of interest to be charged on House Building/Motor Car/Scooter/Motor Cycle/Moped/Cycle/Computer and Marriage Advance granted to the Government employees and also fixation of rate of interest on General Provident Fund and other similar funds for the financial year 2012-2013.

Sir,
   I am directed to refer to the subject noted above and to say that the matter regarding charging of interest on various loans and advances given to the Government employees including AIS Officers has been considered and it has been decided to charge interest on various loans and advances granted/sanctioned during the financial year 2012-2013 at the rates given below: -

 

Sl. No.	Purpose	Rate of Interest w.e.f. 01.04.2012 for 1st Advance (per annum)	Rate of Interest w.e.f. 01.04.2012 for 2nd Advance (per annum)
1.	H.B.A	8.8%	9.8%
2.	Motor car/Motor Cycle / Scooter/Moped Advance	8.8%	9.8%
3.	Marriage Advance	8.8%	9.8%
4.	Computer Advance	8.8%	9.8%
5.	Cycle Advance	8.8%	9.8%

   2. In case of mis-utilization of any loan, penal interest @ 10% per annum will be charged from the applicant over and above normal rate of interest.

   3. The prescribe rate of interest for the third advance shall be 2% above the normal rate of interest on marriage/ Conveyance/Computer advance.

   4. It has also been decided to fix the rate of interest at 8.8% (Eight point Eight Percent) per annum on deposits in the General Provident Fund and other similar funds w.e.f. 1st April 2012. This rate of interest will remain in force during the financial year 2012-2013.

   5. The receipt of this letter may kindly be acknowledged.

Yours faithfully,

sd/-
(Sarla Rani)
Under Secretary Finance
for Principal Secretary to Govt., Haryana,
Finance Department.

Source:http://finhry.gov.in/writereaddata/Instruction/Treasuries/6024.pdf