Loans And  Advances - Purchase of motor cars and motorized two wheelers 

Loans and Advances – Conveyance Advance – Enhancement of monetary limit for purchase of motor cars and motorized two wheelers – Revision of eligibility criteria – Orders Issued.-GO.Ms.No.27 Dated 20.01.2021 

The revised norms will be subject to the following conditions:

a) If the actual value of the car or two wheeler purchased is below the ceilings prescribed above, the admissible advance will be restricted to the cost of the vehicle including taxes, registration and insurance.
b) As already done in the case of two-wheelers, no advance shall be given for the purchase of second hand motor cars.
c) The revised ceilings prescribed above are applicable for the year 2020-2021. For every subsequent year, the ceiling shall be automatically enhanced by 5% over the previous year.
d) The period of recovery of the advance and the other rules and regulations for sanction of conveyance advance shall remain unchanged. 

Finance [Salaries] Department G.O.Ms.No.27, Dated 20th January 2021-Loans and Advances 

  • Level 28 and above (Pay Band 4 and above) & All India Service Officers -Rs.14 lakhs
  • Level 21 to Level 27 (Pay Band 3) -Rs.10 lakhs
  • Level 10 to Level 20 (Below Pay Band 3 till Grade Pay of Rs.2,800/-) -Rs.6 lakhs

Join Telegram& Whats App Group