Section 10 in The Regulations For Disbursement of Loans Under The Middle Income Group Housing Scheme, 1968
10. Repayment of loan with interest thereon.
(1)The loan will carry interest from the date on which it is advanced.(2)For the first twelve months from the date of advancing loan only simple interest as provided in these rules shall be paid in monthly instalments commencing from one month following and thereafter the principal and interest thereon shall be paid in equated monthly instalments within the maximum period prescribed in Rule 17.
