Ministry of Finance has issued Rate of Interests on Advance for Purchase of conveyances during 2013-14. Rate of Interest will be 9% for vehicles other than Motor Car and it will be 11.5% per annum for Motor Car.
Government of India
Ministry of Finance
Department of Economic Affairs
New Delhi, the 12th November, 2013
Subject : Advances to Government servants — Rate of interest for purchase of conveyances during 2013-2014.
The undersigned is directed to state that the rates of interest for advances sanctioned to the Government servants for purchase of conveyances during 2013-2014 i.e. from 1st April, 2013 to 31st March, 2014 are revised as under:
Rate of interest per annum
(i) Advance for purchase of conveyance other than motor car (viz. motor cycle, scooter etc.) 9%
(ii) Advance for purchase of motor car 11.5%
Under Secretary (Budget)
1. All Ministries/Departments of the Government of India with spare copies for IFA,
Controller of Accounts and Pay and Accounts Offices.
2. Finance Secretaries of UTs without legislature.
Copy forwarded to:—
1. C&AG of India, New Delhi.
2. C.G.A., New Delhi.
3. C.G.D.A., New Delhi.
4. All AGs and Director of Accounts.
5. Supreme Court of India.
6. UPSC, New Delhi.
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