The Indian Ministry of Housing & Urban Affairs has issued an Office Memorandum announcing the applicable rate of interest on House Building Advance (HBA) for Central Government Employees during the period of 1st April, 2023 to 31st March, 2024.
The memo states that the rate of interest applicable on HBA for this period will be 7.5% until further orders, in accordance with the revision of interest rates by the Ministry of Finance, Department of Economic Affairs. The memo was issued with the approval of the Competent Authority.
Rate of Interest on House Building Advance (HBA) for Central Government Employees
I-17015/2(2)/2022/H.III/5
Government of India
Ministry of Housing & Urban Affairs
(Housing III Section)
Nirman Bhawan, New Delhi
Dated 27.03.2023
OFFICE MEMORANDUM
Subject: – Applicable Rate of Interest on House Building Advance (HBA) for Central Government Employees during 01.04.2023 till 31.03.2024.
In pursuance to revision of interest rate by Ministry of Finance, Dept of Economic Affairs vide OM 5(2)-B(PD)/2023 dated 20.03.2023, the rate of interest applicable on House Building Advance sanctioned to Central Government Employees during FY 2023-24 (i.e. 1st April, 2023 to 31st March, 2024) will be 7.5% till further orders.
- This issues with the approval of Competent Authority.
(Amita Gupta)
Under Secretary to the Govt. of India
tel: 23061476