Government of India (भारत सरकार)
Ministry of Railways (रेल मंत्रालय)
Railway Board (रेलवे बोर्ड)

RBE No. 46/ 2022

No. 2021/F(E)Spl. /ADV.3/1

New Delhi, Dated: 07.04.2022

The General Managers and PFAs
All Indian Railways & Production Units
(As per standard list)

Sub.: Interest Rate on House Building Advance (HBA) for Railway employees.

A copy of Ministry of Housing & Urban Affairs (MoH&UA)’s OM No. I-17015/2(2)/2022/H.III dated 01.04.2022 regarding the subject mentioned above, is enclosed. These instructions shall be applicable mutatis-mutandis on the Railways.

Interest rate on House Building Advance (HBA) to Central Government Employees starting from 1st April, 2022 to 31st March 2023: Ministry of Housing & Urban Affairs PDF

2. Please acknowledge receipt.

(A.S. Bhasin)
Deputy Director Finance (Estt.)-IV
Railway Board

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From October 1, 2020 to March 31, 2022, the rate of interest on House Building Advances to Central Government Employees will be 7.9%.

No.I-17015/1/2021/H.III
Government of India
Ministry of Housing & Urban Affairs
Housing – III

Nirman Bhawan, New Delhi
Dated 19th April 2021

OFFICE MEMORANDUM

Subject: Interest rate on House Building Advance (HBA) to Central Government Employees – reg.

The undersigned is directed to state that in partial modification of this Ministry’s OM No. I.17011/11(4)/2016-H.III dated 09.11.2017 regarding House Building Advance Rules (HBA) – 2017, the rate of interest on House Building Advance to Central Government Employees will be @7.9% from 1st October 2020 to 31st March 2022 i.e., for 18 months.

Also check: Classification of Cities for HRA as per 7th CPC – X Y Z Classification of Cities for HRA

2. This issues with the approval of Competent Authority.

(Amita Gupta)
Under Secretary to Govt. of India

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HBA – House Building Advance Reduced from 8.5% to 7.9% for a Period of One Year

Ministry of Housing & Urban Affairs
House Building Advance Reduced from 8.5% to 7.9% for a Period of One Year

03 OCT 2019

The rate of interest on House Building Advance [HBA] has been reduced from existing 8.5% to 7.9% for a period of one year, irrespective of the loan amount of HBA. This will be with effect from 01st October 2019.

Also read: 7th Pay Commission House Building Advance

HBA is admissible to permanent employees and all those temporary employees also who have rendered 05 years of continuous service.

The Ministries/ Departments are delegated powers to sanction House Building Advance to their employees in accordance with the HBA rules.

The scheme of HBA to Central Government Employees is aimed as a welfare measure providing assistance to the Government employees to construct/ acquire house/ flats of their own.

Also check: Clarifications regarding House Building Advance

PIB

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Central Government employees have a low-interest house construction advance

Finance Minister Nirmala Sitharaman said the lowering of interest rates will encourage more government employees to buy new houses as they were “a major contributor” to the overall demand.

Also Read: 7th Pay Commission House Building Advance

New Measures to Boost Housing Sector

Relaxation of ECB guidelines for Affordable housing

• ECB guidelines will be relaxed to facilitate financing for home buyers who are eligible under the PMAY, in consultation with RBI.
• This is in addition to the existing norms for ECB for affordable housing.

House Building Advance

• The interest rate on House Building Advance shall be lowered and linked with the 10 Year G Sec Yields.
• Government servants contribute to a major component of demand for houses. This will encourage more government servants to buy new houses

Also Check: Clarifications regarding House Building Advance – HBA

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