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

IND vs ENG Test: After debut, Sarfaraz Khan talked to Musheer on a video call, after watching the video you will also say – Bhai ho to aisa.

Mumbai's explosive batsman Sarfaraz Khan got a chance to wear the jersey of the Indian Test team

Covid-19: The variant spreading in India is proving to be 'lethal' in America, death figures raise concern

The rising cases of coronavirus are a cause of concern for the whole world these days. This time

If you want to buy cryptocurrencies cheaply, then today is the best opportunity, the decline in top-10 digital currencies

If you are also planning to invest in cryptocurrency or digital currency, then today is your best

GT vs MI: Gill ignores Hardik in the middle of the ground... Conflict was seen on two occasions; Is there really a 'discord'?

In the eliminator match of IPL 2025, Gujarat team had to face defeat by 20 runs at the hands of M

Crisis in Sri Lanka: New Presidential election on July 20; Speaker dismisses speculation of Rajapaksa fleeing the country

The dates for the presidential election have been announced in Sri Lanka amid the ongoing crisis

BJP will support caste census in Bihar, CM Nitish has called an all-party meeting on June 1

The BJP has made its position clear before the all-party meeting regarding the caste census in Bi

Chandrayaan-3: Chandrayaan reached its last stage, only this much distance is left

Chandrayaan-3 is continuously moving forward to write India's history on the Moon. The vehicle se

Rishi Sunak: Rishi Sunak's appointment is a surprise for Pakistan, IAS officer Shah Faesal praises India

There is as much talk of Britain's new Prime Minister Rishi Sunak as in Britain. More than that i

NIA raids in many states including Delhi; The nexus between terrorists, gangsters, and drug smugglers busted

The National Investigation Agency (NIA) conducted raids in several states including Uttar Pradesh

Virat-Anushka performed Bhasma Aarti in Mahakal temple: Kohli was seen wearing Rudraksha garland and dhoti-sola, and Anushka was seen in a saree

Virat Kohli and Anushka Sharma reached the Mahakal temple on Saturday morning. Here both of them

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