What Is HBA Plan,
House building advance Plan Of under Center The government allows its employees to build, buy, repair or plot Provides loan for purchase at affordable interest rates. This interest rate is much lower than that of private banks.
The government has made improvements in this scheme from time to time and made it more accessible, making it easier for the employees to fulfill their dream of owning a house.
How much loan can I get?
HBA Under the scheme a central employee will now Basic Pay + DA 34 times or maximum 25 Lakh Rs.Whichever amount is less, the loan can be availed.
If the employee wishes to expand or repair his existing house, a separate advance Facility is available. Special The thing is that the interest rate of the scheme fixed happens and it generally: Remains between 6% to 7.5%. That means there is no risk of interest rate increasing during the loan period.
who can take HBA?
This scheme is for all the permanent employees of the Central Government. employees Available for. Temporary employees can also avail this benefit with certain conditions. The employee must have completed at least 5 years of government service. There should not be any government accommodation in the name of the employee or his spouse. If both husband and wife are government employees Areso only one HBA Is allowed to take.
The process became easier
In the last few years the government HBA processes related to digital Is done. construction now Proof Letters, maps, documents and other important papers can be submitted online. This has speeded up loan approval and employees do not face unnecessary delays. No Had to do.
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