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%