Here I am sharing the Detail of Interest on Advances for the Government Employees. You will know here who are eligible for the interest on advance or not. Detail is as under:
- There is no interest on cycle advance
- There is no interest on House Building Advance for the employees of BPS-01 to BPS-15
- If an employee was granted HBA and he was in BPS-15 or below and later he promoted to BPS-16 or above then there would be no charge of interest on him.
- In the same way, if an employee is granted HBA in BPS-16 and then he reverted to BPS-15 or below, he would have to pay interest even now he is in BPS-15.
- The Govt Employee who don’t get interest on GP Fund, will have to pay no interest on HBA as well as motorcycle, car advance.
Reference: Guidebook for Drawing & Disbursing Officer