7th Pay Commission: Good news for central employees, the interest rate for buying houses will not increase till March 31


Posted on 10th Jun 2021 04:00 pm by rohit kumar

New Delhi, Business Desk. Do you have any central employee in your family? If yes, then during the Covid Mahamari there is a good chance to build houses on cheap loans. This is because the government is giving money to build the house (House Building Advance) at low interest. If you take this amount till March 31, 2022, then only 7.9 percent interest will be available on this advance. Let us tell you that in 2020, Finance Minister Nirmala Sitharaman made many big announcements for the housing sector and export sector to accelerate the economy. These included reducing the interest rate on House Building Advance. Now its term has been extended till March 31, 2022. Both central and state employees can take this advance.

 

What is House Building Advance

 

The government gives house building advance to the central and state employees. In this, employees can take advance for construction on their own or their wife's plot. Advance is based on bank loan repayment. Employees get this fund to buy or build a house. But, with the condition. A government employee gets this advance only once during the job. All permanent employees are eligible for House Building Advance. Also, temporary employees with continuous service of 5 years can take advantage of this facility.

 

where to get

 

Employees can apply for this advance in their department. Under the campaign of the Modi government, at this time fast action is being taken on such advances. The funds required to buy the house will be available through a special window. This video has experts who help in availing housing loans easily. Along with this, relief has been given by the government in the External Commercial Guidelines for Affordable Housing.

 

related to the simple interest

 

The special thing about House Building Advance is that it is related to simple interest. Interest is charged on a slab basis. Slabs also range from 50 thousand to 7.5 lakh rupees. In this, a maximum of Rs 7.5 lakh is available. Overall, this advance can be repaid at a lower rate of interest.

 

what are the conditions?

 

Your House Building Advance file will be passed only after seeing the basic pay of 34 months and the price of the house. Also, the Length of Service is seen.

 

The advance will be available on these

 

To buy a plot or house

for house construction

To buy a plot from a cooperative or group housing society

To buy a house under self-financing scheme

big relief to employees

 

Finance Minister Nirmala Sitharaman had said last year that this would directly benefit government employees. The government believes that the role of government employees is important in increasing the housing demand. In such a situation, by giving relief to government employees, the demand will increase in the coming days. Under the Pradhan Mantri Awas Yojana, 1.95 crore people have benefited. The government is making every effort to provide affordable houses.

2 Like 0 Dislike
Previous news Next news
Other news

Delhi School Reopen: Schools from 9th to 12th will open in Delhi from September 1, know when will the small classes start

Schools will open in Delhi from September 1. The Kejriwal government has decided to reopen school

Why Pakistan will benefit more than India in Asia Cup 2022, the former captain told this reason

India will take on Pakistan in a blockbuster match on August 28 when the two teams face off in th

Comment on Prophet: 1 crore reward for cutting off Nupur Sharma's tongue, Bhim Army announced

The issue of objectionable remarks by former BJP spokesperson Nupur Sharma on Prophet Mohammad is

Lok Sabha Election: A glimpse of Mini India will be seen in PM's road show today, nomination will be done after the permission of Kashi Kotwal.

Prime Minister Narendra Modi will take out a road show on the streets of Kashi today amid the sou

Ind Vs Pak: 'He will score 100 soon...' Sister Komal's reaction to Abhishek Sharma's powerful innings goes viral

India defeated Pakistan by six wickets in their first match of the Asia Cup 2025 Super 4s, and th

Weather Update: Rain alert in many states due to a western disturbance, know- the condition of other states including Delhi, UP

The weather is expected to change once again in North India. According to the Indian Meteorologic

Adani-Ambani in the race to acquire SKS Power: The company owes about Rs 1,900 crore, the deal is important for the business of both

Two of India's biggest business houses, the Adani Group and Reliance Industries (RIL), are in the

Eknath Shinde 'out of reach' amid suspense over CM! What did he do in a village without a network?

After the huge success of the Maharashtra assembly elections, it was expected that the Mahayuti w

Russia frees American basketball star Brittney Griner, in return US frees arms dealer from prison

America's basketball star Brittany Griner has been released by Russia. In return, Russia's arms d

Lakhimpur Kheri Violence: Union Minister of State's son denies being at the scene, said this about the FIR against himself

Lakhimpur Kheri Violence: Ashish Mishra, son of Union Minister of State for Home and BJP leader A

Sign up to write
Sign up now if you have flare of writing..
Login   |   Register
Follow Us
Indyaspeak @ Facebook Indyaspeak @ Twitter Indyaspeak @ Pinterest RSS



Play Free Quiz and Win Cash