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How do Nidhi companies work? |
It is compulsory for Nidhi Company to have at least 200 members, within one year of its existence. Additionally, within one year of its existence, the Net Owned Funds should be minimum Rs. 10 lakhs or more. The ratio of Net Owned Fund to deposit should not be more than 1:201. RECURRING DEPOSIT MINIMUM AMOUNT RS 200/-, THEREAFTER IN MULTIPLES OF RS 100/ 2. PRE- CLOSED ACCOUNT WILL BE ONLY APPLICABLE FOR MORE THAN 3-MONTH REGULAR DEPOSIT. 3. IRREGULAR DEPOSITS ARE NOT ENTITLED FOR PREMATURE PAYMENT AND LOAN FACILITY AGAINST IT. 4. LOAN FACILITY WILL BE AVAILABLE FOR MEMBER`S ONLY AFTER 06 MONTHS OF REGULAR DEPOSIT OF INSTALLMENT 1. RECURRING DEPOSIT MINIMUM AMOUNT RS 200/-, THEREAFTER IN MULTIPLES OF RS 100/ 2. PRE- CLOSED ACCOUNT WILL BE ONLY APPLICABLE FOR MORE THAN 3-MONTH REGULAR DEPOSIT. 3. IRREGULAR DEPOSITS ARE NOT ENTITLED FOR PREMATURE PAYMENT AND LOAN FACILITY AGAINST IT. 4. LOAN FACILITY WILL BE AVAILABLE FOR MEMBER`S ONLY AFTER 06 MONTHS OF REGULAR DEPOSIT OF INSTALLMENT |