MOTORCAR,SCOOTER ADVANCE

INTEREST BEARING ADVANCES The implementation of the recommendations of the sixth central pay commission relating to interest bearing advances granted to central government employees.To purchase of motor car, motorcycle, scooter, moped and personal computer would continue to be in operation. The eligibility criteria will be as follows ; Eligibility Criteria Motor Car (including Personal Computer)-Pay in the payband:19530 and above Motorcycle, Scooter, Moped -Pay in the payband:8560 and above The quantum of advances would be detemined with reference to pay in the pay band and existing ceilings would remain unchanged. Rate of Interest for Purchase of Conveyances Rate of Interest per annum Advance for purchase of Bicycle: 5.5% Advance for purchases of Motorcycle, Scooter, Moped: 8% Advance for purchases of Motor Car: 11.5%

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