A fixed deposit is a financial instrument where a member gets assured rate of interest. It is an investment opportunity provided by SAYA NIDHI LIMITED with the benefits of higher rate of interest than a Normal Saving Account.
Rules and Regulation
• Minimum FD would be of Rupees 5000/-and further in multiple of Rupees 1000/-
• Interest calculation quarterly compound.
• TDS Deducted 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 6month.
• If F.D.is matured after 6months but before 9 month no interest will be paid.
• If any person premature its F.D the person will be paid 3% less of maturity interest after 9 months.
• In case of death of a depositor, the company will repay to nominee or beneficiary the principle & interest, at which it was accepted.
• This Scheme is available only for registered Members.