2017
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Rs.5.5 lakh
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Rs.10.5 lakh
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Rs.7.5 lakh
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Rs.20.5 lakh
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Detailed explanation-1: -The recommendations made by the 7th Pay Commission were accepted and implemented. With the new regulations in place, an employee of the Central Government can now take a loan of Rs. 25 lakh for building a house. Earlier this amount was Rs.
Detailed explanation-2: -SBI home loan for government employees is available at low interest rates starting from 6.95% per annum.
Detailed explanation-3: -2017 regarding House Building Advance Rules (HBA)-2017, the rate of interest on House Building Advance to Central Government Employees will be 7.1% for FY 2022-23 starting from 1st April, 2022 to 31st March, 2023.
Detailed explanation-4: -Under the HBA, central government employees can borrow a total amount of up to 34 months of their basic pay subject to a maximum of ₹ 25 lakh.