Revised Rate of Interest on House Building Advance (HBA) for Central Government Employees for FY 2024-25. Download HBA Rate of Interest for fy 2024-25 in PDF
The Ministry of Housing & Urban Affairs, Government of India, has issued an Office Memorandum regarding the revision of interest rates on House Building Advance (HBA) sanctioned to Central Government Employees for the Financial Year 2024-25, effective from 1st April, 2024 to 31st March, 2025.
Notification Details:
- Date: 12th June, 2024
- Reference: OM No. 1-17015/2(2)/2024/H.II/30
- Issuing Authority: Ministry of Housing & Urban Affairs, Nirman Bhawan, New Delhi
Revised Interest Rate: As per the Office Memorandum, in accordance with the revision by the Department of Economic Affairs, Ministry of Finance (vide OM No. 5(2)-B(PD)/2024 dated 10.06.2024), the rate of interest applicable on House Building Advance for Central Government Employees for FY 2024-25 will be 7.44% until further orders.
This revision ensures that eligible Central Government Employees availing HBA during the specified period will benefit from the updated interest rate of 7.44%.
Impact and Further Orders: The specified rate of interest will remain in effect unless superseded by subsequent notifications or orders from the concerned authorities.
Central Government Employees planning to utilize the House Building Advance are advised to take note of this revised rate for their financial planning and decision-making.
For further information or clarifications, concerned departments and employees may refer to the detailed Office Memorandum dated 12th June, 2024.
This notification aims to provide clarity and transparency regarding financial benefits available to Central Government Employees in the realm of housing, facilitating informed decisions and effective utilization of government-provided benefits.
Issued By: Ministry of Housing & Urban Affairs Government of India
