There is good news for the central government employees who are considering to buy computers by taking advantage of computer advance. The central government has fixed the interest rate for computer advances for the financial year 2022-23. According to the office memorandum issued by the Department of Posts, Establishment Department under the Ministry of Communications, the interest rate for computer advance has been fixed at 9.80 per annum in FY23.
post officeThe Department set up under the Ministry of Communications, while issuing an office memorandum in this regard, said, “The undersigned is directed to state that advance sanctioned to Government servants for purchase of computers during 2022-23 i.e. from 1st April, 2022.” The rate of interest as on 31st March, 2023 is as follows: Advances for purchase of computers, interest rate is 9.80 per cent per annum.”
For more information, the Central Government has also amended the Computer Advance Rules. Now any central government employee can use this computer advance to buy iPad at the rate of 9.80 percent per annum. The Department of Expenditure under the Ministry of Finance has issued an office memorandum in this regard.
Issuing a clarification whether iPad also comes under the definition of personal computer for the grand purpose of computer advance, the department replied, “The requests have been considered in this department and it has been decided that an officer also Can buy and take advantage of computer advances through iPad.”
In October 2016, the department amended the rules enabling central government employees to advance a PC 50,000 or the actual cost of the pc, whichever is less.