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House Building Advance Scheme Form: Rules, Interest Rate for govt Employee

In our country, government employees have a special place. And there have many facilities made available for them by the Central government or state government. The House Building Advance Scheme has made possible affordable interest rates and rebates as per government norms. Also, this scheme has offered to the Central Government employees for assisting them in the construction of houses or flats. House Building advance for Govt employees.

House Building Advance Scheme Form

House Building Advance has considered all the permanent or temporary employees with at least service of 10 years in continuation. Also in this scheme, the interest rate has depended on the slabs of loans taken by the applicants. If you don’t know about the House Building Advance Scheme introduced by the Central Government of India. Then we have writing this post for all such kind of details for our readers.

Although this scheme was launched many years back. In the year 1956, the government has initiated the House Building Advance Scheme for the government employees. And it has also worked as a welfare scheme in our country. In addition, the Ministry of Urban Development has taken all the responsibility for handling the work under this scheme. So that employees can have the loan benefits at lower prices.

House Building Advance Calculator

For House Building Advance Scheme the Ministry of Urban Development has formulated various rules for making the scheme more effective and usable. If any employee wants to avail of the services given in this yojana, then they need to consult their own department. Because the power of sanction House Building Advance Scheme has given to the government employees own department.

As a result, the interest amount in this yojana has been calculated on the balance as outstanding on the last day of the month. However, the interest rate in House Building Advance Scheme has in between the 6% to 9.5%. And this has solely based on the amount of loan applied by the government. In the year 2017, the House Building Allowance rules has revised by the central government. Due to this the housing sector has boost among the employees.

House Building Advance Scheme
House Building Advance Scheme

House Building Advance Rules pdf

Based on the rule existing in House Building Advance, the concerned department has permitted the loan to the applicant. Also in this project, there has some specific rules and some maximum admissible amount mentioned according to them. However, in HBA, there have some simple interest rates applicable from the date of payment of the amount in advance.

House Building Advance Interest Rate

Main Purpose behind House Building Advance Scheme :

HBA Loan Apply Online

Because of new rules and regulations in place, government employees can apply for a loan of 25 Lakh Rupees for building a house. Before these new rules, the amount was Rupees 7.5 Lakh in the yojana. But nowadays the maximum pertaining limit for constructing a house with a loan, the employee can now apply for a 1 Crore Rs loan. So the eligible candidate can have advantages in this scheme. For more updates stay connected with us.

List of changes expected in House Building Advance Scheme :

House Building Advance Scheme Eligibility Criteria :

House Building Advance Online Application

Application form for House Building Advance Scheme :

House Building Advance for employees
House Building Advance for employees

Soon, we will update you about the application submission procedure through an online medium. Due to this, our readers can avail of the service given by the central government.

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