Section 243(3) in The Navy (Pay And Allowances) Regulations, 1966
(3)Simple interest shall be charged on these advances the rate of which shall be prescribed from time to time. The interest shall be calculated on the balance outstanding on the last day of each month and it shall be recovered in one or more instalments after the whole of the principal has been repaid, and no such instalment shall be appreciably greater than the instalments by which the principal was recovered.
