Wednesday, June 5, 2013

Haryana fixes 8.7 % interest on GP Fund



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.

No comments: