Interest rates on advances taken for purchase of conveyances during 2011-12

          The Government of India has announced the interest rates applicable on advances taken for purchase of conveyances during 2011-12. The applicable rates of interest are:-

1. Advance for purchase of conveyance other than Motor Car         -  9% per annum
    (Viz Motor cycle, scooter etc.,)
2. Advance for purchase of Motor car                                           -  11.5% per annum