ACCOUNT OPENING :
The minimum denomination of the company as follows:
Daily Deposit minimum Rs. 20/- Recurring Deposit Minimum Rs. 100/- Fixed Deposit minimum Rs.10000/
Monthly income Scheme Minimum Rs.1000/-
MODE OF PAYMENT :
All payments to the company shall be made either in cash or by account payee cheque or Demand Draft in favour of SWAPNPURTI NIDHI LIMITED. The Cheque/Demand Draft will be credited in the name of the Member of the Company subject to clearance of Chque/Demand Draft. Receipts duly countersigned by the authorised signatory of the authorised Branch bearing the seal of the company's authorised Branch will be given after each payment to the Member of the Company.
ISSUE OF PASSBOOK OR CERTIFICATE :
A Pass book shall be issued to every member for Daily & Saving Alc His/Her Pass Book will be updated at regular intervals from pass Book update counter and Certificate will be issued for Fixed Deposit , and Recurring Deposit Income Scheme, Bond Signed by the authorised signatory. If any discrepancy is found between the entries and the payments made by the member, proper scrutiny will be solicited to take decision.
Maturity payment of irregular Payment Accounts: The Account wherein the Applicant has not continued the account regularly would be treated as irregular Account. The Company will charge liquidated damages on these irregular account on account of non receipts of deposit installments in time arid the resultant loss of investment opportunity etc. The liquidated damages would be deducted from or adjusted against the interest amount payable to the Member. No deduction of any kind shall be made from the principal after the completion of tenure deposited by the Member of the Company Pension of Maturity Payment may vary in case of Lone taken against our deposit policy.
SECURE LOAN (LOAN AGAINST DEPOSIT) Loan Facility Is applicable on 5 year Policy income Holder. Member who has Deposited minimum installments of 3 months for Daily Account, RD and MIS regularly and also minimum 36 months after the deposit of FD from the date of account opening , can avail lone against deposit, maximum upto 50%of the principal amount standing to the credit of the Member as on the date of application. Member will have to submit an application for availing loan against deposit facility which will be paid within 15 days from the date of application. Pension and final maturity Pay will be adjusted with any amount remaining unpaid in loan against deposit account. Rate of interest on loan against deposit would be per Annum
higher applicable rate of interest.
SECURE LOAN (LOAN AGAINST DEPOSIT) : Loan Facility Is applicable on 5 year Policy income Holder.
Member who has Deposited minimum installments of 3 months for Daily Account, RD and MIS regularly and also minimum 36 months after the deposit of FD from the date of account opening , can avail lone against deposit, maximum upto 50%of the principal amount standing to the credit of the Member as on the date of application. Member will have to submit an application for availing loan against deposit facility which will be paid within 15 days from the date of application. Pension and final maturity Pay will be adjusted with any amount remaining unpaid in loan against deposit account. Rate of interest on loan against deposit would be per Annum
higher applicable rate of interest.
NOMINEE BENEFIT :
1. Nominee age should be minimum 18 year of age.
2. If applicant\ member death during paying term, than nominee will get only total deposit amount after submit the relevant documents.
3. If nominee is minor, then his\ her guardian will be receive the benefit amount.
4. Nominee can continue the policy after the death of Member\Applicant.
5. In case of nominee is minor, then his\ her guardian can continue the Policy after the death of Member/Applicant.
GENERAL RULES :
1 . The Company may at any time after, carry, add to or delete from these terms and conditions on account of Government Policy as applicable from time to time or otherwise by notifying of Company s notice board or by publication on the Newspaper
2. The Company reserves the right to settle the account with Applicable rate of interest for the company tenure of the Account even before the completion of the declared tenure.
3. Deposit are accepted on the understanding that the Member assumes full responsibility for genuiness, validity and correctness of all signatures and endorsement appearing thereon and their sources of fund.
4. The payment of the Member in excess of Rs.19,999/- shall be made by account payee cheque or demand draft only.
in case of dispute between the Company and the Member Account Holder, the same shall be decided by an arbitration proceedings and the preceding arising out of Awards shall be binding on both the parties.
TERMS & CONDITION FOR THE MEMBERSHIP :
1. He\She should be a resident of India
2. The applicant must have completed 18 years of age.
3. He\She should be capable of entering into s valid contract.
4. He \She should not have been punished for any criminal offence by the court of low.
5. His\Her business or profession should not be in conflict with the business\ activities of the society. Note:
The member can transfer his/her share (s) as per Nidhi Rules 2014 He \ She has completed 1 year as member
TERMS & CONDITION FOR THE TRANSFER OF SHARE(s) REFUND OF SHARE MONEY :
(A) A member can request for refund for share money subject to following conditions :-
1. He\She has completed 1 year as member of the society,
2. There should not be outstanding liabilities in his\ her name as debtor guarantor.
3. There should be no deposits in his\her name, with the society.
(B) share wil be transferred in the name of other member subject to following conditions :-
1. The member attains the right to transfer Share Money only after he\ she has completed 1 year as member of the
2. The member has to pay share transfer fee 10\-