Repayment of loan and interest

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..... e repayment may be made either in one lump sum or in two or more monthly instalments within the prescribed period of thirty-six months. The repayment will be credited to the subscriber's account. (2) After the principal of the loan is fully repaid, the subscriber shall pay interest thereon in not more than two monthly instalments at the rate of 1 [ two per cent, per annum ] of the princi .....

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..... within the prescribed period of thirty-six months, may, on becoming due, be debited to the subscriber's account. (4) The interest recoverable shall accrue to the Central Government. ******* Notes 1. Substituted vide NOTIFICATION [F.No. 1/9/2011-NS-II], dated 25-11-2011 before it was read as one per cent per annum - - statute, statutory provisions .....

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