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Negotiable Instruments Act, 1881

Section 79, NI Act: Interest when rate specified

Pundora · Published 3 October 2026

Section 79 of the Negotiable Instruments Act, 1881, in the Act's own words.

The section

79. Interest when rate specified.

When interest at a specified rate is expressly made payable on a promissory note or bill of exchange, interest shall be calculated at the rate specified, on the amount of the principal money due thereon, from the date of the instrument, until tender or realization of such amount, or until such date after the institution of a suit to recover such amount as the Court directs.

The text is India Code's consolidated text as loaded into Pundora's statute corpus on 1 September 2026. A section quoted in a draft checked by Pundora is checked against this text.

Sources

  1. India Code: Negotiable Instruments Act, 1881, section 79 (read 1 September 2026)

The Act's own words, from India Code. If the text here differs from the Gazette, the Gazette governs; write to contact@pundora.in and it will be corrected and dated.