Employees Corner, Education and Govt Jobs
I have already published a detailed article on the calculation of interest amount manually on Motorcar, Motorcycle, and House Building Advance. At the request of the visitors of my site, I am today publishing a detailed article on “Calculation of Motorcycle/Motorcar/House Building Advance Interest in MS Excel Sheet”.
I have already published some articles about the Calculation of GP Fund Interest amount after a year’s periods as well as I have also published about the calculation of Interest amount on GP Fund Advance. Today I will tell you how to Calculate GP Fund Balance with Bonus Amount. The bonus on GP Fund was granted in various years during the past.
I have already published a formula for the Calculation of GP Fund Interest Amount manually after a year but now I am publishing here how to Calculate GP Fund Annual Balance Amount with Simple MS Excel Sheet. It is so simple to use and you can easily prepare your own GP Fund Statement. You have to just put the monthly deduction amount of GF Fund and the Interest rate for that year.
As you know the Prime Minster’s Youth Business Loans programme has been started and the Pakistani and AJK nationalities men and women whose age is between 21 years to 45 years can apply for this loan. You will have the deposit the loan amount in 8 years. 1st installment will be started after one year. Thus the period of the loan installments is 7 years. Now I ll discuss about the guarantees. Only one guarantee is required for this loan. The detail of the same is as under:
Application form for Prime Minster’s Youth Business Loans is free of cost and you will have to pay nothing for this form. If any one asks for bribery or any illegal demand for this loan process you can contact at the toll free number 0800-77000. You will have to deposit only Rs. 100/- as processing fee at the time of depositing the form and this fee is nonrefundable.
I am today giving you the information about the Interest Rate for the Advance Salary Loan for the Employees. The Interest rate for NBP as on 11-09-2013 is 19% which is the lowest as compared to all the other banks. These interest rates are variable from time to time. National Bank of Pakistan grants Advance Salary Loan from a period of 01 year to 05 years. You can calculate yourself the amount of interest and all other details of loan with the help of Advance Salary Loan Calculator whose detail I have already given you in my previous posts. I will show you here some calculations on the base of 19% interest rate. Note these are all rough calculations; there may be variation according to the bank policies.
Govt of Pakistan Finance Division, Regulation Wing Islamabad has issued Notification No. F.2 (1)-Reg.7/2010 dated 19th July 2013 in connection with the revised rates of GP Fund & CP Fund for the year 2012-2013. The new rates are 12%. The rates of the General Provident Fund and the Contributory Provident Fund for the financial year 2011-12 were 13.70%.