Terms & Condition

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  • The minimum amount accepted for Saving Account / Recurring Deposit Scheme is Rupees 1000/- (Rupees One Thousand Only). The Minimum amount accepted for Fixed Deposit / Kisan Nidhi Bond / Mahila Nidhi Bond / Ladli Nidhi Bond is Rs. 5,000/- (Rupees Ten Thousand Only).
  • The Minimum amount for daily Deposit is Rs. 100/- (Rupees Hundred Only).
  • Deposits may be made in the joint names of two or more persons, former or survivor or either or survivor basis.
  • The deposits made in the name of a minor may be operated upon or withdrawn by the person making the deposit and representing the minor as his or her guardian. In case of demise of such guardian any other person claiming as guardian shall not be entitled to operate upon or withdraw the deposit unless permitted by the Board of Directors which shall be at its discretion. Amounts of Money so paid to such guardians shall afford a complete discharge to the Fund for payment of the deposit and shall not be questioned by minor or by anyone on his or her behalf.
  • The rate of interest payable will be decided by the Board of Directors from time to time and will apply to all deposits accepted on or after that date, subject to RBI Regulations.
  • TDS in terms of the provisions of the Income Tax Act 1962 in force will be deducted at source from the interest payable. Non assesses are requested, if necessary, to furnish a statement in the prescribed Form 15 G/15H or Form 60 161 so that tax may at source not be deducted. This will be according to the Income Tax Act at the force on a date. The fund does not take any liability after submission of Form 15G/15H/60/61 by depositors.
  • At the time of maturity, the specimen signature of the member shall be tallied.
  • For repayment of deposit, the deposit receipt has to be surrendered duly discharged on one rupee revenue stamp. In the case of Former or Survivor (For S) deposit, the discharge has to be made by the first named depositor during his/her lifetime. However, in the case of Either or Survivor (E or S) deposit, either depositor can give the discharge. In the case of joint accounts, the deposit receipt should be discharged by both the depositors.
4.Withdrawal before Maturity
  • A fixed deposit account or a recurring deposit account or a similar nature of deposit shall be foreclosed by the depositor subject to the following conditions, namely:-
  • The Company shall not pay any deposit within a period of three months from the date of its acceptance;
  • On prematurity request by the depositor after three months of the deposit, the depositor shall not be entitled to any interest up to the period of six months from the date of deposit. The interest payable for the remaining period after six months shall be payable by the ordinarily agreed/applicable rate of interest (i.e. the rate of interest payable which the Company would have ordinarily paid, had the deposit been accepted for the period from which such deposit had run) reduced by two percent.
  • In case of Pre Mature Payment of deposit, rupee value of the Gift, if any given to the depositor, shall be recovered along with [email protected] 18 % Per annum (Monthly Compounded).

All the payments of the deposits shall be made by crossed cheque/demand draft on a Bank in favor of depositor marked account payee where applicable.

The payment of the deposit shall be made within a period of 7 to 14 days from the date of withdrawal request subject to other conditions fulfilled.

No interest or any other benefit will be payable, after the date of maturity.

The deposit can be renewed by signing the deposit receipt on the reverse (without revenue stamp) and accompanied by Renewal application form duly filled in and signed. In the case of Former or Survivor (F or S) deposit, only the first named depositor can sign the deposit receipt for renewal.

Deposit receipt is not transferable. Hence no addition, deletion or change of names is permissible during the tenure of the deposit receipt.

The interest shall be calculated, compounded and accumulated as per the specifications of the particular scheme approved by the Board of Directors and as amended time to time.

The fund will not recognize any lien, charge or other encumbrance on deposit. Depositors are requested to intimate any change in address.

Cheques/Drafts should be drawn in favor of” AADHARLONE Nidhi Limited” crossed “Account Payee”. Drafts should be made payable at Noida only.

AADHARLONE India Nidhi Limited reserves the right to Change the Rate of Interest and Amend, the Terms and Conditions of the Scheme.

The deposits accepted by the Company are not insured and the repayment of the deposit is not guaranteed by either the Central Government or the Reserve Bank of India.

All kind of deposits is always subject to the provisions of the Companies Act 2013, Nidhi Company Rules & Regulations and all other applicable rules and regulations in India.