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    Ayush Tiwari
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    The document summarizes the key details of the House Building Advance scheme for central government employees, including the borrowing amounts and interest rates before and after the 7th Central Pay Commission, eligibility criteria, and provisions for repayment over 180 installments or 60 installments of interest. The scheme aims to provide housing assistance to permanent and temporary government employees and has helped decrease the number of government quarters while allowing employees to own better homes through low interest rate loans.

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    The document summarizes the key details of the House Building Advance scheme for central government employees, including the borrowing amounts and interest rates before and after the 7th Central Pay Commission, eligibility criteria, and provisions for repayment over 180 installments or 60 installments of interest. The scheme aims to provide housing assistance to permanent and temporary government employees and has helped decrease the number of government quarters while allowing employees to own better homes through low interest rate loans.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    6 views1 page

    B&W Poster PDF

    Uploaded by

    Ayush Tiwari
    The document summarizes the key details of the House Building Advance scheme for central government employees, including the borrowing amounts and interest rates before and after the 7th Central Pay Commission, eligibility criteria, and provisions for repayment over 180 installments or 60 installments of interest. The scheme aims to provide housing assistance to permanent and temporary government employees and has helped decrease the number of government quarters while allowing employees to own better homes through low interest rate loans.

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    © All Rights Reserved
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    of 1

    House Building Advance for Central Government Employees

    • Introduced in 1956 as a welfare Title Before CPC 7 After CPC 7


    measure by MoUD
    • Providing assistance to Government Borrow amount (new) 7.5 lakhs 25 lakhs
    Employee
    • Permanent or temporary employee Borrow amount (expansion) 1.8 lakhs 10 lakhs
    • Having 10year Tenure Ceiling limit 30 lakhs 1 crore
    • Rebate on interest rate of 2.5%
    • Recovery of amount in 180 Interest Rate 6%-9.5% 8.5%
    installment
    • Recovery of interest in 60 installment
    • Sanction amount depends upon Pay Present Relevance
    band • If both spouse are government
    • Morgtage Deed is given to President employee
    of India • Only one is eligible
    • Provision to move from home
    Result of scheme loans to HBA
    • Employee can have houses in big • Interest rate reviewed every 3
    cities year
    • Decreased the number of • 34 months of the basic pay
    Government Quarters subject to a maximum or cost
    • Interest rate are low of the house/flat, or the
    • Better home in same loan amount amount according to repaying
    • Repayment is easy capacity

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