Computer Advance Interest Rate 2020-21 for Central Government Employees

Computer Advance for Central Government Employees – Rate of Interest 9.8%

7th Pay Commission Computer Advance with Rate of Interest

Generally, purchasing of computer or laptop on loan from banks or any other financial institution is slightly differs from Advance. Advance is granting to Government employees with minimum interest to purchase a personal computer. After the 7th pay commission, the maximum amount of advance for personal computers is fixed as Rs. 50000.

F.No.5(3)-B(PD)/2019
Ministry of Finance
Department of Economic Affairs
(Budget Division)

North Block, New Delhi
Dated the 16 March, 2020

Office Memorandum

Subject: Advances to Government Servants – Rate of interest for purchase of Computer during 2020-21.

The undersigned is directed to state that the rate of interest for advance sanctioned to the Government servants for purchase of Computer during 2020-21 i.e. from 1st April, 2020 to 31st March 2021 is as under:

Advance for purchase of Computer: Rate of interest per annum – 9.8%

sd/-
(Arup Shyam Chawdhury)
Under Secretary (Budget)

How to Calculate Interest for Computer Advance