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[Cites 0, Cited by 0] [Section 14(3)] [Section 14] [Entire Act]

Union of India - Subsection

Section 14(3)(b) in National Savings Recurring Deposit Scheme, 2019

(b)in the case of repayment in equal monthly instalments, the amount of each instalment shall be in multiples of ten rupees and the number of instalments shall not exceed the number of months remaining for maturity of the account or the post maturity period for which the account is continued under paragraph10 or paragraph 11 and the interest at the rate specified in sub-paragraph (3) shall be calculated on the amount remaining unpaid at the end of each month from the month of withdrawal of the loan, and the total amount of such interest shall be payable in lump sum alongwith the last instalment of repayment of the amount of loan or in the month following the month in which the last instalment of the loan is repaid.