Question

What is the default interest payable under Section 63A of the Transfer of Property Act, 1882?

• A. 6% per annum
• B. 8% per annum
• C. 9% per annum
• D. No default rate prescribed.

Answer 1

The Correct Option is C

Under Section 63A of the Transfer of Property Act, 1882, the default rate of interest payable is 9% per annum unless otherwise agreed upon by the parties involved.