[Code of Federal Regulations]
[Title 5, Volume 3]
[Revised as of January 1, 2001]
From the U.S. Government Printing Office via GPO Access
[CITE: 5CFR1655.7]

[Page 289]
 
                    TITLE 5--ADMINISTRATIVE PERSONNEL
 
         CHAPTER VI--FEDERAL RETIREMENT THRIFT INVESTMENT BOARD
 
PART 1655--LOAN PROGRAM--Table of Contents
 
Sec. 1655.7  Interest rate.

    (a) Except as provided in paragraph (b) of this section, loans will 
bear interest at the G Fund rate in effect on the date the application 
is received by the recordkeeper (date of application). The interest rate 
per payment is calculated by dividing this G Fund rate by the number of 
loan payments/pay periods scheduled in a period of 12 consecutive 
months.
    (b) If the date of application occurs before the G Fund rate has 
been determined for that month, the loan will bear interest at the G 
Fund rate in effect during the month preceding the date of application.
    (c) The interest rate calculated under this section remains fixed 
until the loan is repaid.