Haryana Government has prescribed the limit of various kinds of loans and advances available for the employees of the State Government like house building advance, marriage, vehicle and computer loan on the basis of the recommendation of Seventh Pay Commission.
Finance Minister, Capt Abhimanyu on Thursday said that the Government employee would now be eligible for 34 months basic pay to a maximum ceiling of Rs 25 lakh for construction of house or purchase of Built up house allotted by the Government agencies or any other registered societies or through private source, whichever was less.
Earlier the employees were entitled to House Building Advance of 40 months basic pay subject to maximum of Rs 15 lakh for this purpose. As per the recommendation of Seventh pay Commission, they would not be allowed for second house building advance (HBA), he said.
The Minister said that now, for the purchase of plot, the state employees would be entitled for 60 per cent of the total admissibility of House Building Advance, which is 20 months basic pay, in any pay matrix, subject to maximum of Rs 15 lakh and maximum of Rs ten lakh for the construction on that plot. Earlier, the employees were entitled to Rs nine lakh for the purchase of plot.
Similarly, for the extension of house, the employees will get ten months basic pay, in any matrix, subject to a maximum ceiling of Rs five lakh.
Capt Abhimanyu said that the employees would be entitled for ten months basic pay subject to a ceiling of Rs three lakh, whichever was less for the marriage of their sons, daughters, dependent sisters and self marriage and available for two marriages only whereas earlier they were getting ten months basic pay subject to maximum of Rs 1.25 lakh as marriage loan.
For motor car loan, the employees drawing revised pay of Rs 45000 and above, in any pay matrix, would be eligible for this advance whereas earlier employees drawing revised pay of Rs 18000 and above in any pay band were eligible for this advance, he said.
The employees would get loan for motor car equal to 15 months basic pay subject to a maximum ceiling of Rs 6.50 lakh or 85 per cent of the actual price of the motor car, whichever was less. On first loan in this category the rate of interest would be equal to that of GPF, on drawing second time and third time the rate of interest would be increased to two per cent and four per cent respectively, he said.
The Minister further said that as computer loan, they would get Rs fifty thousand or actual price of computer or laptop, whichever was less. The second and third loan would be granted if the previous loan had been completely recovered and no objection certificate had been obtained and the rate of interest would be equal to that of GPF on all advances, he added.