Deposits

Depositors can choose from a wide range of deposit products with maturities ranging from 01 to 60 months at competitive rates of interest and with different features to suit the investment needs of individual Members:

1. Fixed Deposit Plans:

Plan Name No. Of Years Simple Rate of Interest calculated annually payable on maturity Sample Amount of Deposit Sample Maturity Value (Rs.) Factor for Calculation*
A 1 8 100000 108000 1.080
B 2 9 100000 118000 1.180
C 3 9.5 100000 128500 1.285
D 4 10 100000 140000 1.400
E 5 11.5 100000 157500 1.575

*Factor for calculation can be used for calculation of the maturity value. For example if a depositor with Plan C wishes to invest Rs. 200000. He can calculate the maturity value simply by multiplying the factor value 1.285 with 200000 (200000x1.285=257000) and obtain maturity value approximately.  It is just for the reference purpose original value might be fractionally different.

Terms and Conditions:

  •  It is mandatory to be a member in the company.
  • Minimum FD would be of Rs.10000 and further in multiple of Rs. 1000.
  •  Interest calculation yearly compound.
  • TDS Deducted to be Deducted on interest. Paid by Kamla Nidhi on Deposit as per provisions and Income tax Act.
  • Loan available against deposits up to 70% of deposited amount after one month from the date of deposit.
  • F.D. will not be premature within first 3 month.
  • if F.D. is matured after 3 month but before 6 month no interest will be paid.
  • if any person premature its F.D the the person will be paid 2%, less of maturity interest after 6 month to 60 months. 
  •  Only cheques favouring “SARVVAYAPI NIDHI LIMITED” and demand draft favoring SARVVAYAPI NIDHI LIMITED payable at AMRITSAR shall be accepted for the purpose of opening Fixed Deposit Account. RTGS/NEFT Also accepted.
  • Please note that  the Company shall not accept the cash for opening of the Fixed Deposit Account of the member and the company shall not be responsible for any loss caused to the member if he or she hands over any cash to our employees or the persons who project fraudulently themselves as our employees. All the disputes are subject to the Amritsar Jurisdiction only.

2. Recurring Deposit Plans:

Plan Name No. Of Years Simple Rate of Interest calculated annually payable on maturity Sample Amount of Deposit  Sample Maturity Value (Rs.) Factor for Calculation*
A 1 8 1000 12520 1.043
B 2 9 1000 26250 1.094
C 3 9.5 1000 41272 1.146
D 4 10 1000 57800 1.204
E 5 11.5 1000 77537 1.292

*Factor for calculation can be used for calculation of the maturity value. For example if a depositor with Plan C wishes to invest Rs. 2000. He can calculate the maturity value simply by multiplying the factor value 1.146 with 72000(2000X36) (72000x1.146=82512) and obtain maturity value approximately.  It is just for the reference purpose original value might be fractionally different.

Terms & Conditions:

  • It is mandatory to be a member in the company.
  • Interest will be calculated on yearly basis.
  • Recurring Deposit minimum amount Rs 500/-, thereafter in multiples of Rs 100/­
  • Loan on deposits will be charged at 18% yearly compound interest basis.
  • 1 month after paying last instalment or maturity amount due date whichever is more will be applicable for payment of maturity amount.
  • Irregular deposits are not entitled for pre mature payment and loan facility against it.
  • On irregular deposits if all irregular pending deposits are paid then such account will be treated as regular. Even if there is default in payment of 1 instalment, the said account will be treated as irregular.
  • After maturity date, payment on irregular accounts will be made after deducting the penalty amount maximum to the limit of interest earned on such account. No deductions will be made on principle amount of such accounts.
  • R.D. will not be premature within first 3 month.
  • If R.D. is matured after 3 month but before 6 month no interest will be paid.
  • After depositing the premium of 6 months, any type of interest will not be given.
  • If any person premature its R.D then the person will be paid 2% , less of maturity interest after 6 months to 60 months.
  • in case of death of a depositor, the company will repay to nominee or beneficiary the principal & interest, at which it was accepted.

 

3. Monthly Income Plans:

Plan Name No. Of Years Simple Rate of Interest (%)  Sample Amount of Deposit Deposit After Interest           (Rs)

Amount of Interest

(Rs.)

Monthly Payout

(Rs.)
*Factor for Calculation
A 1 7.50 100000 107500 7500 625 1.075
B 2 8.00 100000 116000 16000 667 1.160
C 3 8.50 100000 125500 25500 708 1.255
D 4 9.00 100000 136000 36000 750 1.360
E 5 10.50 100000 152500 52500 875 1.525

*Factor for calculation can be used for calculation of the Interest value. For example if a depositor with Plan C wishes to invest Rs. 200000. He can calculate the deposit value including interest simply by multiplying the factor value 1.255 with 200000 (200000x1.255=251000). Interest Value=51000 (251000-200000). MIS Payout= Rs.1417 (51000/36) approximately.  It is just for the reference purpose original value might be fractionally different.

Terms & Conditions:

  • Minimum MIS would be of Rs. 10000/- and further in multiple of Rs.10000/-
  • No TDS Deducted on interest paid by Kamla Nidhi on Deposits.
  • Special MIS is applicable only for Senior citizens, women, and Govt. employ and for pensioners.
  • Loan available against Deposit up to 75% of deposited amount after one month from the date of deposit.
  • Rate of interest on loan against Deposit would be 5% higher than applicable rate of interest to your Deposit.
  • Payment before maturity not allowed for 90 days deposit scheme and Payment before Maturity allowed to other MIS plans, in this case the Calculation of interest on pre-mature payment will be applicable as per savings a/c’s rate of interest and already paid interest amount will be deducted from the principal amount.

4. Saving Deposit Account:

Saving money habits will improve the quality of life and will help you feel better and to sleep better. One will be happier knowing he/she has some money aside for unexpected expenses and look forward to achieve some of their dreams. Sarvvayapi Nidhi Limited has introduced uniquely designed " Savings Account" to inbuilt the habits of saving among people.

Features:

  1. Deposit can only be accepted from the members of the company. Minimum Amount Rs. 2000.
  2. Rate of interest will be 6.5% Per Annum.
  3. Only cheques favouring “SARVVAYAPI NIDHI LIMITED” and demand draft favoring SARVVAYAPI NIDHI LIMITED payable at AMRITSAR shall be accepted for the purpose of opening Saving Account. The Members can also send the electronic fund transfer in the Bank Account of the Company.
  4. No Cash Shall be accepted.

5.     KYC Documents Required from the Members:

  • Identity Proofs: Passport , Aadhaar Card, PAN Card, Voter ID Card, Driving License, Government ID Card, Photo Ration Card, Senior Citizen ID Card.
  • Address Proof : Passport, Aadhaar Card, Telephone Bill, Bank Statement with Cheque, Certificate/ ID card issued by Post Office
  • In case of Telephone Bills and Bank Statements these must not be older than the two months.
  • All the KYC documents are mandatory for the purpose of opening of above mentioned deposits accounts.