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Conveyance Advance Revised Interest rate for 2011-12

Ministry of Finance, Department of Economic Affairs has issued Office Memorandum regarding vide his No. F.No.5(2)-B(PD)/2011 dated 19-03-2011 :

Subject : Advances to Government Servants – Rate of interest for purchase of conveyances during 2011-2012.

The undersigned is directed to state that the rates of interest for advances sanctioned to the Government servants for purchase of conveyances during 2011-2012 i.e. from 1st April, 2011 to 31st March, 2012 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%

Order: http://finmin.nic.in/the_ministry/dept_eco_affairs/budget/RoIPurchConvey11.pdf

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