The State Government on Tuesday increased the housing loan for its employees from Rs 25 lakh to Rs 40 lakh based on the recommendations of the Seventh Pay Commission.
Besides, the interest rate was brought down to eight per cent. Employees would be provided housing loan at the ratio of 60:40 in two installments.
Earlier, the State Government employees were getting Rs 25 lakh and the maximum interest was 11.5%. All the permanent employees, including those covered under the National Pension Scheme, would get the benefits under the new norm.