By Haryananewswire
CHANDIGARH, JUNE 5
The Haryana Government has decided to fix
the rate of interest at 8.7 per cent per annum on the deposits of General
Provident Fund and other similar funds with effect from April 1,
2013 which will remain in force during the financial year 2013-14.
While stating this
here today, a spokesman of the Finance Department said that a
notification to this effect has been issued by the Department. He said
that the State Government has also fixed the rate of interest for various
loans and advances given to its employees for the financial year 2013-14.
He
said that it has been decided to charge interest at a rate of 8.7 per cent
per annum for first advance and at 9.7 per cent for the second advance
for house building, motor car, scooter, motor cycle, moped, cycle, computer and
marriages loans for the financial year 2013-14.
He said that in case of mis-utilization of any loan, penal interest would be
charged at the rate of 10 per cent per annum over and above the normal rate of
interest. The prescribe rate of interest for the third advance will be two
percent above the normal rate on interest on marriage or conveyance or
computer advance, he added.
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