(1) Every loan granted under this Chapter shall be made repayable by installments within such period from the date of actual advance of the loan or, when the loan is advanced in installments, from the date of payment of the last installment, and shall bear interest at such rate and payable in such manner as may be fixed by the order granting the loan.



(2) The period fixed as aforesaid shall not exceed twenty years unless the State Government, by general or special order, otherwise directs.