Loans will probably be repayable in equal payments of principal and interest combined, except that
(a) the installment that is first may go beyond 30 days by no more than fifteen times, plus the very first installment re re re payment quantity could be bigger than the residual re payments because of the level of interest charged for the additional times.
Month-to-month payment that is installment could be omitted to allow for borrowers with regular earnings.
(2) Payments might be used to the combined total of principal and interest that is precomputed maturity associated with loan. A licensee may charge interest following the initial or deferred maturity of a precomputed loan at the rate specified in unit (A) of the part on all unpaid principal balances when it comes to time outstanding.