Amendment status not verified — confirm the current text below against the official source.
Repayment of Loans.— Every loan shall be re-payable by instalments (in the form of annuity or otherwise) together with interest (including penal interest), if any, at such rate or rates and within such period from the date of actual advance of the loan, as may, from time to time, be prescribed by rules made under section 7: Provided that nothing in this section shall prevent the borrower from repaying all or any of the instalments of the loan at any time earlier than the due date.