7th Pay Commission 2017 – Government Employees Get 3 Times More Loan Amount Under HBA

Govt employees in India have been waiting for 7th Pay Commission (2017) to be implemented as soon as possible. And all the latest updates & rumors related to the same to get a full stop. After the proposal of 7th Pay Commission, Govt. employees have an eye on the committee for the approval of the same. From a hike in the salary to other allowances, everything of the Govt. employees have been dependent upon the decision of 7th Pay Commission.

Not only regarding the hike of Salaries of the Central Govt. employees but the commission have been also giving additional bonanza offer to the employees under 7th Pay Commission. Check out the latest updates of the 7th Pay Commission here.

7th Pay Commission 2017: Central Govt to get more HBA loans

Apart from the salary hike of the Central Govt. employees, 7th Pay Commission will also offer 3 times more house building advance loans (HBA). Centre has approved the Rs. 25 Lakh loans under the HBA scheme to be benefitted to almost lakhs of Central Govt. Employees. Although the new hike of the HBA Loans under the 7th Pay Commission 2017 has been 3 times more what Govt. employees are currently having.

Even the Govt. has also fixed the ROI (Rate of Interest) of the HBA of 8.5 percent. Whereas earlier it was 6 percent to 9.50 percent for the loan range of Rs. 50K to Rs. 7.5 Lakh. And under the 7th Pay Commission initiative, although the amount has been increased for the HBA loans and the ROI has also made fixed for all.

And here are the Latest updates on 7th Pay Commission 2017 

And here’re the latest updates in news in regards with the 7th Pay Commission 2017-

Govt. Employees likely to get the hiked pay by April 2018 after the implementation of 7th Pay Commission.

A minimum hike of Rs. 21,000 has been expected in the 7 CPC.

And the fitment factor is expected to get a hike of 3.00 times.

The decision on the 7th Pay Commission will be out by December, after the meeting of Finance Minister & NAC (National Anomaly Committee) on 15 December 2017.

Although these all are the recommendations & expectation of the Govt employees from the 7th Pay Commission but the actual scenario of the 7 CPC will only be cleared after the NAC & Finance Miniter’s meeting on 15th Dec 2017.

Source: odishatv.in


Gurjit Kaur

Gurjit Kaur is a young and vibrant writer, who is passionate about media. Having done her MBA in media management, Gurjit loves to weave words in simple yet an elegant form. Her love for Chandigarh and the belief that "content is king" makes her an author on Chandigarh Metro. You may reach Gurjit at hello@chandigarhmetro.com
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