Showing posts with label House Building Allowance. Show all posts
Showing posts with label House Building Allowance. Show all posts

Thursday, October 3, 2019

HBA - House Building Advance Reduced from 8.5% to 7.9% for a Period of One Year

Posted by Government Staff on 10:04 PM. ,,,,, - No comments


HBA - House Building Advance Reduced from 8.5% to 7.9% for a Period of One Year

HBA-to-Central-Government-Employees


Ministry of Housing & Urban Affairs
House Building Advance Reduced from 8.5% to 7.9% for a Period of One Year

03 OCT 2019
The rate of interest on House Building Advance [HBA] has been reduced from existing 8.5% to 7.9% for a period of one year, irrespective of the loan amount of HBA. This will be with effect from 01st October 2019.

Also read: 7th Pay Commission House Building Advance

HBA is admissible to permanent employees and all those temporary employees also who have rendered 05 years of continuous service.

The Ministries/ Departments are delegated powers to sanction House Building Advance to their employees in accordance with the HBA rules.

The scheme of HBA to Central Government Employees is aimed as a welfare measure providing assistance to the Government employees to construct/ acquire house/ flats of their own.

Also check: Clarifications regarding House Building Advance

PIB

Monday, September 16, 2019

Central Government employees have a low-interest house construction advance - House Building Advance (HBA)

Posted by Government Staff on 8:38 PM. ,,,,,,, - No comments

House Building Advance (HBA)

Central Government employees have a low-interest house construction advance
Finance Minister Nirmala Sitharaman said the lowering of interest rates will encourage more government employees to buy new houses as they were “a major contributor” to the overall demand.
Also Read: 7th Pay Commission House Building Advance

New Measures to Boost Housing Sector

Relaxation of ECB guidelines for Affordable housing
  • ECB guidelines will be relaxed to facilitate financing for home buyers who are eligible under the PMAY, in consultation with RBI.
  • This is in addition to the existing norms for ECB for affordable housing.
House Building Advance
  • The interest rate on House Building Advance shall be lowered and linked with the 10 Year G Sec Yields.
  • Government servants contribute to a major component of demand for houses. This will encourage more government servants to buy new houses
Also Check: Clarifications regarding House Building Advance - HBA

house-building-advance-central-government-employees

Now Trending

34% DA Order for Central Govt Employees wef 01.01.2022 - Latest CG Employees DA Order Jan 2022

 DA Order for Central Government Employees from Jan 2022 - Finmin Order 2022 Latest CG Employees DA Order Jan 2022 Dearness Allowance payabl...

Disclaimer:

All efforts have been made to ensure accuracy of the content on this blog, the same should not be construed as a statement of law or used for any legal purposes. Our blog "Central Government Staff news" accepts no responsibility in relation to the accuracy, completeness, usefulness or otherwise, of the contents. Users are advised to verify/check any information with the relevant department(s) and/or other source(s), and to obtain any appropriate professional advice before acting on the information provided in the blog.

Links to other websites that have been included on this blog are provided for public convenience only.

The blog "Central Government Staff news" is not responsible for the contents or reliability of linked websites and does not necessarily endorse the view expressed within them. We cannot guarantee the availability of such linked pages at all times.

Any suggestions write to us
centralgovernmentnews@gmail.com