Terms & Conditions

The use of this website is subject to the following terms of use :

•   Mode of repayment of deposit shall be through cash / cheque or online payment as per the request of depositee. Any payment of Rs. 50,000 and above shall be made through cheque only.

  - No deposit shall be repaid within a period of three months from the date of acceptance.
  - If deposit is withdrawn at the request of the depositor after three months, the depositor shall not be entitled to any interest up to six months from the date of deposits.
  Where at the request of the depositor, a NIDHI COMPANY makes repayment of a deposit before the expiry of the period for which such deposit was accepted by NIDHI COMPANY,the rate of interest payable by NIDHI COMPANY on such deposit shall be reduced by two percent from the rate which NIDHI COMPANY would have ordinarily paid, had the deposit been accepted for the period for which such deposit had run. However, in the event of death of a depositor, the deposit may be repaid prematurely to the surviving depositor or depositors in the case of joint holding with survivor clause, or to the nominee or to legal heir with interest up to the date of repayment at the rate which the company would have ordinarily paid, had such deposit been accepted for the period for which such deposit had run.

•   The depositor may be paid either monthly, quarterly, half yearly, or yearly as agreed between the depositor and the company or as per the scheme framed by the company.
•   The NIDHI COMPANY shall also have the right to repay the deposits prematurely.
•   The NIDHI COMPANY carries a right to reserve; it may deny keeping the deposit or lending to any person or a group without stating any reason for it.
•   The fixed deposit may be renewed at the request of the depositor.
•   In case of non-payment of the deposit or part thereof as per the terms and conditions of such deposit, the depositor may approach the Registrar of companies having jurisdiction over NIDHI COMPANY.
•   In case of any deficiency of NIDHI COMPANY in servicing its depositors, the depositor may approach the National Consumers Disputes Redressal Forum, the State Consumers Disputes Redressal Forum or District Consumers Disputes Redressal Forum, as the case may be, for redressal of his relief.
•   You may not create a link to this website from another website or document without Genius Technology’s prior written consent.
•   Your use of this website and any dispute arising out of such use of the website is subject to the laws of India or other regulatory authority.

Declaration by Board of Directors :

•   Board of Directors of the Company hereby declare that all the requirements of Companies Act, 1935 and the rules including the NIDHI COMPANY rules, 1935 made there under in respect of the subject matter of this form and matters incidental thereto have been complied with.We also declare that all the information given herein above is true and correct.

Important Note :

•   Neither Reserve Bank of India (RBI) nor Central Government does undertake any responsibility for the financial soundness of NIDHI COMPANY or for the correctness of any of the statement or the representations made or opinions expressed by NIDHI COMPANY and the deposits accepted by NIDHI COMPANY are not insured and the repayment of deposits is not guaranteed by either the Central Government or the Reserve Bank of India.

Exhibit 1 : Terms and Conditions for Accepting Deposits..

•   Deposit will be accepted from Members Only.
•   Deposit can be accepted in cash or through cheque subject to verification.
•   Recurring deposits shall be accepted for a minimum period of twelve months and a maximum period of sixty months.
•   In case of fixed,recurring,daily,MIS deposits relating to mortgage loans, the maximum period of recurring deposits shall correspond to the repayment period of such loans granted by NIDHI COMPANY.
•   The maximum balance in a savings deposit account at any given time qualifying for interest shall not exceed one lakh rupees at any point of time and the rate of interest shall not exceed two percent above the rate of interest payable on savings bank account by nationalized banks.

Exhibit 2 : Terms and Conditions for Lending..

•   Any Individual loan shall not exceed INR 2.0 Lacs.
•   NIDHI COMPANY shall provide loan only against Gold, Precious Jewellery, Immovable Property and Deposit.
•   The value of Gold loan shall not exceed 80% of the fine gold secured.
•   The value of loan against immovable property shall not exceed 50% of the property secured.
•   The repayment of gold loan shall not exceed one year.
•   The repayment of loan against immovable property shall not exceed 7 years.
•   The repayment of loan against Deposit shall not exceed the maturity period of Deposit.
•   Any interest due or loan due shall be subject to prudential norms.