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Purchase of Motor cycle/Car/Personal Computer

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Purchase of Scooter/Motor cycle/Moped

  • Eligibility – Pay in Pay Band Rs. 8560/- (excluding Grade Pay) or more are eligible. (Ref 2)
  • Amount – Rs.30000 or 4 months pay or anticipated price whichever is the least.
  • Second or subsequent advance  - Rs.24000 or 3 months pay or anticipated price whichever is the least. Second/subsequent advance is not permissible unless earlier vehicle is sold. Amount of advance will be less the profit earned on selling the earlier vehicle.
  • The employee should produce Registration Certificate of the vehicle on his name within specified period.
  • Rate or interest – 8% per annum.
  • Recovery – Not more than 70 installments from the subsequent months’ pay after drawing the advance.

Purchase of Motor Car

  • Eligibility – Railway Employees with Pay in Pay Band Rs. 19530/-(excluding Grade Pay) or more are eligible.(Ref 2)
  • Amount – Rs.1,80,000 or 8 months pay or anticipated price whichever is least.
  • Second or subsequent advance  - Rs.1,60,000 or 8 months pay or anticipated price whichever is the least.  It shall be granted only after  4 years from date of withdrawal of  last advance.  Restriction of 4 years does not apply in following cases: I) Where advance allowed earlier was for Motor cycle and now it is for car. II) Where Railway employee dispose his car in India prior to his posting/training/deputation abroad more than one year and returning to India without car.
  • III) Where he is appointed to a regular post abroad and does not take his car along with him.
  • Second/subsequent advance is not permissible unless earlier vehicle is sold. Amount of advance will be less the profit earned on selling the earlier vehicle.
  • Conditions - The employee should produce Registration Certificate of the vehicle on his name within specified period. Competent authority should be satisfied about the repaying capacity of the employee. Mortgage agreement should be executed before withdrawal of the advance.
  • Rate or interest – 11.5% per annum.
  • Recovery – Not more than 200 installments starting with the subsequent months’ pay after drawing the advance.

Advance for Personal Computer

  • Eligibility – Railway Employees with Pay in Pay Band Rs. 8560/- (excluding Grade Pay)or more are eligible.
  • Amount – Rs.50000 limited to price of computer excluding customs duty if any on first occasion or anticipated price whichever is less.
  • Recovery – Not more than 150 installments from the subsequent months’ pay after drawing the advance.
  • An employee can draw both the advance for computer and Car simultaneously if eligible.
  • Mortgage as in the case of Motor car.
  • Subsequent advance – 3 years after the date of previous withdrawal.R

References

1.   Chapter XI of Indian Railway Establishment Manual, Volume I

2.   Railway Board’s letter No. F[E]Spl.2009/ADV.4/5 dated 26.02.2009 (Advance Correction Slip No. 207)  

3.   Railway Board Letter No: F[E]Spl.2008/ADV.2/4 dated 26.02.2009 dated 26/02/2009 (RBE No: 42/2009)

Comments

Hello sir i am working in

Hello sir i am working in indian railway for more than a 6 years and i want to take car loan from railway
My basic is rs 10160 and my grade pay is Rs 4200
My gross salary is Rs 40000. Am i eligible for car loan

Sir, I am working as a SSE.

Sir, I am working as a SSE. My basic Pay is Rs. 22680/- and  my age is 55 years. 

would you tell me whether I am eligible for a car advance or not ?

Railway Employees with Pay in

Railway Employees with Pay in Pay Band Rs. 19530/-(excluding Grade Pay) or more are eligible for Car advance.

sir my father basic pay

sir

my father basic pay +grade pay total is rs11670 till today so i want to know what the basic pay+grade pay of my father will be according to 7 th pay scale in 2016?

Dear freind 7th Pay

Dear freind 7th Pay commission is not yet constituted. It will not be possible to say this now.

Sir  I want to know whether

Sir 

I want to know whether am i eligible for NTPC posts like ASM,TRAFFIC APPRENTICE,GOODS GUARD AND TC

I am B.TECH IN CHEMICAL ENGINEERING.

Yes, you are eligible.

Yes, you are eligible.

Sir I am TECNICIAN-III... My

Sir I am TECNICIAN-III...
My pay-scale is 5200-20200+1900/-..
Can I appLy for advance for motor-cycle..
Am I eligible for this..
My grade-pay is 1900/-...
Please guide me and repLy.....

If your pay in Pay Band is

If your pay in Pay Band is Rs. 8560/- (excluding Grade Pay) or more you are eligible.

sir i m working under tech g

sir i m working under tech g 2  5200-20200 g.p 2400 posted brc division my basic is 9050 and my d.o.a is 7-2-2007 sir i need a motor cycle/moped  loan would you please tell me that how can i  apply for the advance loan and how much i get ?   thanking you

You can apply to DPO of your

You can apply to DPO of your Division for the Motor Cycle advance. Amount sanctioned will be lowest of the following three:

1) Rs.30000

2) 4 months pay

3) Anticipated price of the Motor Cycle.

All Regular employess can

All Regular employess can apply.

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