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

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

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