means payments made by way of a series of equal instalments at the end of equal consecutive periods, not longer than one year each, as from the date upon which a money lending transaction or a credit transaction or a leasing transaction was concluded: Provided that for the purposes of this definition--
| a) | the instalments shall be deemed to be equal if all the instalments in the series of instalments are equal except one which does not differ from the other instalments in the series of instalments by more than ten percent; |
| b) | the periods shall be deemed to be equal if all the periods are of the same duration except the first period if the first period does not differ by more than one half of the duration of any of the other periods where those other periods are not longer than one month each and by not more than one month where those other periods are longer than one month each. |