Bhubaneswar: In a good news for the Odisha Government employees, the home loan amount for them has been hiked from Rs 25 lakh to Rs 40 lakh.
This has been done by the State Government on the basis of recommendation of the Seventh Pay Commission.
This apart, the interest rate has been reduced on housing loan from 11.5% to 8% per annum.
The loan amount will be disbursed in two instalments in 60:40 proportion.
It will also benefit the State Government employees under the National Pension Scheme.
Earlier in 2010, the maximum housing loan amount for the State Government employees was fixed at Rs 25 lakh with 11.5% interest rate.