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Housing Loan Scheme at WB State Co-op. Bank Ltd

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Government of West Bengal
Finance Department
Budget Branch

No. 2621-F.B. Date: 27.12.2010

MEMORANDUM

Sub: Housing Loan to eligible employees of the Government of West Bengal in association with the West Bengal State Co-operative Bank Ltd., under tie-up arrangement – Rate of Interest w.e.f. 01.07.2010.

In continuation of this Department Memo No. 1847-FB dt. 16.01.2007, 847-FB dt. 08.08.2007, 1934-FB dt. 19.01.2009, 2367-FB dt. 18.03.2009 and 817-F.B. dt 14.07.2009 undersigned is directed by order of the Governor to say that the Governor has been pleased to accord sanction to introduce the fixed rate of interest in the Housing Loan Scheme for employees of Govt. of West Bengal for a period of one year with effect from 01.07.2010 in the following manner as prescribed by the WBSCB Ltd.:-

2. Housing Loan Rate of Interest (fixed):

Rate of Interest (fixed) w.e.f. 01.07.2010 upto 30.06.2011
Sl. No. Period Rate
1. Upto 5 yrs. 9.50 %p.a.
2. Above 5 yrs. to 10 yrs. 10.00% p.a.
3. Above 10 yrs to 15 yrs. 10.25% p.a.
4. Above 15 yrs to 20 yrs 10.50% p.a.

All other terms & conditions as contained in the aforesaid Memo No. 1847-FB dt. 16.01.2006 and subsequent orders issued from time to time in the matter remain unchanged. It will be applicable to all new Housing Loan proposals sanctioned and disbursed during the period with effect from 1st July, 2010.

Sd/- A. R. Chattopadhyay
Joint Secretary to the
Government of West Bengal