Section 30AState of West Bengal Act
Section 30A: [ Limitation as to rate of interest recoverable in case of commercial loan.-] [Section 30A Inserted by W.B. Act 4 of 1981, w.e.f. 2.2.1981.]Notwithstanding anything contained in any law for the time being in force or in any agreement, no borrower of a commercial loan shall be liable to pay any interest other than simple interest at a rate per annum not exceeding in the case of
[ Limitation as to rate of interest recoverable in case of commercial loan.-] [Section 30A Inserted by W.B. Act 4 of 1981, w.e.f. 2.2.1981.]Notwithstanding anything contained in any law for the time being in force or in any agreement, no borrower of a commercial loan shall be liable to pay any interest other than simple interest at a rate per annum not exceeding in the case of-
(i)
unsecured loan ... twenty per centum;(ii)
secured loan ... seventeen per centum.Previous
Sec 30 — Limitations as to amount and rate of interest recoverable
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Sec 31 — [ Prohibition of interest on decretal amount.-] [[Sec. 31 Substituted by W.B. Act 21 of 1965, which was earlier as under:
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