Recurring Deposit

The Recurring Deposit (RD) scheme in the Nidhi where an investor deposits a fixed amount with monthly intervals for a fixed tenure (mostly ranging from one year to five years). This scheme is for investors who want to deposit a fixed amount every month, in order to get a good amount on maturity. The small monthly savings in the Recurring Deposit scheme make the depositor to accumulate a handsome amount on maturity. Interest on Recurring deposit rates is computable on quarterly compounded basis. The account can be opened by any member individually.

Benefits of Recurring Deposit Interest Rates

  1. Safe investment - Recurring deposits have no any high risk. Choose a stable and secure Nidhi Company to ensure that your money is safe. Recurring deposits are just a simple investment of your money and do not dabble in the markets. Therefore, the interest rate not fluctuate and you do not stand to lose your money.
  2. Earn while you save - Your deposit gets earning interest from your first contribution. The interest accumulation increaseswith tenure. The longer you invest, gives more interest earning.
  3. Hand sum payout - At the time of maturity you receive your contribution plus interest you earned. That you can use this money to reinvest or spend it on what you made saving for.
  4. Loan offer –When you a recurring deposit account with Nidhi Company, you can avail loan facility with our company.
  5. Mobile app & online transaction facility with our company.
  6. Doorstep service

Attractive Rate of Interest

Period Rate of Interest
12 Months 5.00%
24 Months 5.10%
36 Months 5.30%

Terms & Conditions:-

  1. Recurring Deposit account can be opened with minimum Rs. 1000 /- and further in multiple in Rs. 100.
  2. Interest on Recurring Deposit cumulated on quarterly compounded basis.
  3. In this scheme 70% of the deposited amount remains available for loan.
  4. There is no any account closer facility is available for 3 month after opening of account.
  5. There is no interest will be paid if account closed after 3 months & but before 6 months.
  6. After 6 months on prematurity 2% less interest will be applicable as given in the scheme.
  7. 2% penalties will be charged on default instalment on monthly basis.
  8. The maturity will make one month after deposit of last instalment or the maturity date whichever is later.
  9. In case of death of depositor, the amount will be paid to nominee or legal heirs
  10. No advance will be sanctioned on irregular account.
  11. If any account holder deposits his/her due instalment then the account will be treated as regular account
  12. On maturity, 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.
  13. Stationary Expenses of Rs. 100 / - will be charged in case of prematurity.
  14. No interest or profit will be payable in the scheme after the maturity period.
  15. Company Management reserves the right to change/alter/close this scheme at any time with or without notice.
  16. In case of any dispute in this scheme, the decision of the company management will be final and valid.
  17. TDS deduction will be as per Income Tax Act.
  18. The interest rate will be applicable on loan against deposit will 2% below our advance base rate, which is currently 20% or changes time to time.

Tenure of payment:

The tenure of the account 12 months and above.

Mode of payment:

a) All payments to the company shall be made either in cash or by cheque/ draft against the receipt countersigned by its authorized signatory payments by any mode or media other than mentioned above shall be at the member account holder's own risk. The cheque/draft shall be credited in the name of member Account Holder subject to clearance by the bank. Out station cheques shall not be accepted.
b) Installments are to be paid regularly in each working day. The member account holder will have to deposit 30 days’ payment in the moth.

Issue of pass book:

A pass book will be issued to every member of account holder. The member account holder shall get the pass book updated at regular intervals. If any discrepancy or differenced in the amount is found between the entries made in the passbooks and receipts duly counter signed by the authorized signatory of the branch office bearing seal. Payment shall be made on the basis of receipts only.


To open RD account in SINL, you must satisfy the following eligibility criterion:

  1. You must have the age above 18 years
  2. It is mandatory to be a member in the company.
  3. If you are below the age of 18 years, then your guardian must be the member of SINL.

Required Documents for Account Opening:

To abide by the KYC (Know Your Customer) policy of RBI & Govt. and approved KYC norms of our company, we insist to produce Three recently colored photograph along with one document of identify proof
Ration Card with photo,
Driving License,
PAN card,
Voter ID card,
Aadhaar Card
Any other ID issued by Govt. Authorities

And one document of residential Address proof
Utilities (Telephone Bill, Electricity Bill, Water Bill)
Bank Account / Credit card statement
UIDAI ( Aadhar ) Card
PAN Card
Driving License
Voter ID
Bank Statement
Electricity Bill

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