House Building Advance Interest reduced from 8.5% to 7.9% for a Period of One Year
Press Information Bureau
Government of India
Ministry of Housing and Urban Poverty Alleviation
03-October-2019 19:02 IST
House Building Advance Reduced from 8.5% to 7.9% for a Period of One Year
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.
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.
RJ/PS
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Source : PIB News
