Loan repayment terms under the Public Provident Fund impose a fixed repayment period and default interest consequences. Subscribers must repay loan principal under the Public Provident Fund Scheme within a prescribed thirty-six month period, in lump sum or instalments; interest after principal repayment is payable in up to two monthly instalments at two per cent per annum, while failure to repay within the prescribed period attracts a higher default interest rate and allows debit of outstanding interest or unpaid portions to the subscriber's account, with recoverable interest accruing to the Central Government.
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Provisions expressly mentioned in the judgment/order text.
Loan repayment terms under the Public Provident Fund impose a fixed repayment period and default interest consequences.
Subscribers must repay loan principal under the Public Provident Fund Scheme within a prescribed thirty-six month period, in lump sum or instalments; interest after principal repayment is payable in up to two monthly instalments at two per cent per annum, while failure to repay within the prescribed period attracts a higher default interest rate and allows debit of outstanding interest or unpaid portions to the subscriber's account, with recoverable interest accruing to the Central Government.
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