7th pay commission: Government employees can bring Tata Nexon home this Diwali with DA money, will benefit

7th pay commission: On the occasion of Dussehra, Indian Railways has given a big gift to its employees. Railway Board has decided to increase the Dearness Allowance of its employees by about 4 percent. With this decision of Railways, its employees will now get 46 percent Dearness Allowance (DA) instead of 42 percent. The biggest thing is that this dearness allowance given to railway employees will be applicable from July 1, 2023. That means they will now get it along with the outstanding amount from July till now. Now, if the railway employees wish, they can take advantage of the huge lump sum amount and instead of spending it on other items, they can bring home the most economical and durable car, Tata Nexon, this Diwali. This step taken by the Railway government employees will not only be beneficial for them, but will also bring happiness to their family members. Now a question will arise in your mind that how can this happen? Then let’s know…

More than 11 lakh railway workers will get double benefits

Let us also tell you that the Railway Board has announced to increase the dearness allowance to its employees from 42 percent to 46 percent of the basic salary. This decision of the Board will provide double benefit to about 11,07,346 Railway employees. It is such that before the Railway Board announced the increase in dearness allowance, the Union Cabinet had last Wednesday announced a bonus equal to 78 days’ salary for all non-gazetted employees of the Railways. Five days later, the board announced a four percent increase in dearness allowance. With this, about 11,07,346 Railway employees will get the benefit of increased dearness allowance of four percent along with a bonus equal to 78 days’ salary. The decision of the government and the Railway Board will benefit all 11,07,346 non-gazetted employees of various departments and ministries of the Railways, including railway track maintainers, loco pilots, guards, station masters, supervisors, technicians, helpers, pointsmen, etc.

How much is Tata Nexon available?

Tata Motors has recently launched the facelift models of Harrier and Safari in the market, but before that the Indian car manufacturing company has launched the updated version of Nexon in the market. Now talking about the price of this car of Tata Motors, the on-road price of the base model of Tata Nexon starts from around Rs 8.10 lakh. However, the price of its top model reaches up to Rs 15.50 lakh. Tata Motors has introduced its Nexon car in about 68 variants. The price of each variant has been fixed separately and according to those variants, the financial institutions providing car loans along with government and private banks of the country also decide the interest rate and monthly installment i.e. EMI. But, keeping in mind the employees of Indian Railways, here we are talking about the base model of Tata Nexon, whose on-road price is Rs 8.10 lakh.

Interest rates on variants of Tata Nexon

Now, if Indian Railways employees want to take a car loan on increased dearness allowance and bring Tata Nexon to their home in Diwali this year, then they should also know about its interest rate and EMI i.e. monthly installment. Tata Motors is selling five variants of Nexon in the market. This includes Tata Nexon Smart, Tata Nexon Smart Plus, Tata Nexon Pure, Tata Nexon Smart Plus and Tata Nexon Pure S. Banks and financial institutions of the country are providing car loans on all these variants of Nexon at an interest rate of about 9.8 percent. On purchase of Tata Nexon, you will be provided a car loan at 9.8 percent interest rate for 60 months i.e. five years.

EMI and down payments on Tata Nexon variants

If you are going to take a car loan for Tata Nexon, then you should also get information about how much down payment you will have to make on which variant and how much EMI you will have to pay. On Tata Nexon Smart, you will have to make a down payment of around Rs 93,971 and every month you will have to pay 17,886 EMI or EMI. Similarly, Tata Nexon Smart Plus is getting Rs 1.05 lakh down payment and Rs 19,974 EMI, Tata Nexon Pure is getting Rs 1.12 lakh down payment and Rs 21,218 EMI, Tata Nexon Smart Plus is getting Rs 1.12 lakh down payment and Rs 21,218 EMI and Tata Nexon Pure is getting Rs 1.12 lakh down payment and Rs 21,218 EMI. You will have to pay down payment of Rs 1.21 lakh and EMI of Rs 23,051.