The Karachi Civil Aviation Authority (CAA) has recently begun another loan scheme to help its employees to buy vehicles. This program is essential to meet the mobility needs of CAA representatives.
CAA employees are qualified for loan to buy different vehicles, including cycles, bikes, and cars, under this loan scheme.
The loan amounts differ depending on the employee’s position within the firm.
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Employees in the service group from grades 1 to 2, for instance, are qualified for loans of up to Rs. 25,000 for bike purchases. Those in higher grades, up to grade 11, can acquire bike credits of up to Rs. 150,000.
Workers in the CAA Executive group at grade 1 can likewise secure loans of Rs. 200,000, while those in the Compensation bunch at grades 5-9 can acquire advance loans of up to Rs. 1.3 million.
Special laborers from grades 5 to 11 have access of up to Rs. 1.3 million. The credit limit for staff in the Chief Executive group from grades 2 to 10 is Rs. 3.5 million.
The CAA has ordered that this loan scheme, which is solely implied for vehicle acquisitions, would have an annual interest rate of 10%.
