House Building Advance in Government
In June 2020 during the critical time of Covid pandemic the Central Government has declared the scheme of taking House Building Advance. The 52 lakh central employees are getting a gift from the government to build houses which is available on simple interest rate of only 7.9 percent.
The employees can take the advance upto 24 times of basic salary upto a maximum of 25 Lacs. This scheme will be over on 31st March 2022.
Advance for expansion of House
For the government employees who are already residing in their houses, such advance can be taken upto 34 Times of Basic pay up to a maximum of Rs. 10 Lacs.
Such loan can be repaid in installments spread over 20 years.
However, the employees working on permanent post can avail this House Building Advance.
*Copyright © 2021 Dr. Lalit Kumar. All rights reserved.
This article is written by Dr. Lalit Kumar Setia; a renowned author and trainer. The article was published on 31st July, 2021 and last updated on 4th September, 2021. The writer can be contacted on lalitkumarsetia@gmail.com
