CAR Loan to Telangana Employees, Loans and Advances

CAR Loan to Telangana Employees, Telangana PRC 2015, Loan and Advances, Motor Car Advance, Motor Cycle/ Scooter Adavnce, Moped  Advance, Bicycle Advance to Telangana State Govt Employees,

Nature of Loan, Pay Ranges in Revised Pay Scales, 2015, Enhanced Ceiling Amount in Rupees, Eligibility, Maximum monthly instalments for recovery Prl.  Int., Rate of interest

A. Nature of Loan: Motor Car Advance

1. Pay Ranges in Revised Pay Scales, 2015
   Employees drawing basic pay of Rs.37,100/- and above.
2. Enhanced Ceiling Amount in Rupees: 6,00,000/-
3. Eligibility:
   Either 15 months’ basic pay or actual cost of vehicle or Rs.6 lakhs, whichever is less.
4. Maximum monthly instalments for recovery Prl.  Int.:135  65
5. Rate of interest:
   a) For Class. IV employees @ 5.00% p.a.
   b) For others @ 5.50% p.a.

B. Nature of Loan: Motor Cycle/ Scooter

1. Pay Ranges in Revised Pay Scales, 2015:
   Employees drawing basic pay of Rs.22,460/-p.m. and above.
2. Enhanced Ceiling Amount in Rupees: 80,000/-
3. Eligibility:
   Either 7 times of basic pay or actual cost of vehicle or Rs.80,000/, whichever is less.
4. Maximum monthly instalments for recovery Prl.  Int.: 80 16
5. Rate of interest:
   For Class.IV employees @ 5.00% p.a.
   For others @ 5.50% p.a.

C. Nature of Loan: Moped  Advance

1. Pay Ranges in Revised Pay Scales, 2015:
   Employees drawing basic pay of Rs.16,400/- p.m. and above, and for all Drivers who have completed 2 years of service irrespective of their pay as above
2. Enhanced Ceiling Amount in Rupees: 35,000/-
3. Eligibility:
   Either 7 times of basic pay or actual cost of vehicle or Rs.35,000/-,  whichever is less
   Maximum monthly instalments for recovery Prl.  Int.: 60 16
4. Rate of interest:
   For Class.IV employees @ 5.00% p.a.
   For others @ 5.50% p.a.

D. Nature of Loan: Bicycle Advance

1. Pay Ranges in Revised Pay Scales, 2015: —
2. Enhanced Ceiling Amount in Rupees: 10,000/-
3. Eligibility:
   Actual cost of Bicycle or Rs.10,000/, whichever is less
   (All employees including Class -IV, except to those for whom advance for the purchase of Motor Car/Motor Cycle/Moped was sanctioned earlier)
4. Maximum monthly instalments for recovery Prl.  Int.:26 4
5. Rate of interest
   For Class.IV employees @ 5.00% p.a.
   For others @ 5.50% p.a.