♦ Savings Account

Main Features	Saving Account
Interest Rate Upto 8%
Nomination Facility	Yes
SMS Facility	Yes
Passbook Facility	Yes
Account Statement	Yes

Salient Features

• The account can be opened only for an individual, no joint account facility is available.
• Minors cannot open Savings Accounts by themselves. In such a case, a person legally empowered to operate a minor’s account can file a nomination on behalf of the minor.
• Applicants can make a nomination by filling up the prescribed form.
• The nomination details can be changed during the subsistence of the account relationship by filling up the form prescribed.
• Cash payments up to Rs. 20,000 will be accepted, but above that, a cheque is required.
• For cash deposits above Rs. 49,999 submitting a PAN Card is compulsory.
• The charge for a duplicate passbook will be Rs.200/-.
• No hidden charges are included in this scheme.
• No transaction charges.
• If not maintained the Average monthly balance SMS charge applicable Rs 33.33 monthly including GST charges.
• If not maintained the Average monthly balance than charges applicable Rs 83.33 monthly including GST charges.
• No credit and debit charges.
• No service charges in doorstep banking.

Salient Features

• Please produce the original documents for verification and a photocopy of each document.
• Mandatory to provide permanent address and telephone number.
• Please avail of the nomination facility.
• Mandatory to complete the KYC Norms.
• Terms and condition apply and all deposit plan only for Members/ Shareholders.

♦ RD ACCOUNT

Recurring Deposit schemes allow members with an opportunity to build up their savings through regular monthly deposits of a fixed sum over a fixed period. The Minimum Period of RD is 12 months, and the maximum is 60 Months.

The minimum amount to be deposited is Rs. 500/- per month and thereafter multiples of Rs. 500/- must be deposited.

Salient Features

• The interest rate will be calculated on a Daily basis.
• On irregular deposits, if all irregular pending deposits are paid then such accounts will be treated as regular. Even if there is the default in payment of one instalment the said account will be treated as irregular.
• After the maturity date, payment on an irregular account will be made after deducting the penalty amount maximum to the limit of interest earned on such account. No deduction from the principal amount.
• Irregular account revised interest will be calculated on the lapse in the account of the last payment date as per company rule.
• No Premature closure or foreclosure facility is available.
• Nomination is compulsory.
• RD can be opened only for an individual with no joint facility is available.
• A minor cannot open RD by themselves. In such a case, a minor appointee is required to apply after completing KYC.
• All interest payments are entitled to TDS deduction as per Government instruction.
• Maturity will be paid through an A/C Payee cheque only.

Issue of Passbook:

A passbook will be issued to every Member Account Holder. The Member Account Holder shall get the passbook updated at regular intervals. If any discrepancy or difference in the amount is found between the entries made in the passbook and receipts duly countersigned by the authorised signatory of the branch office bearing seal. Payments shall be made based on receipts only.

Premature Closure of Deposit:

Foreclosure of deposits will not be permitted until completion of 3 months from the date of deposits. For deposits foreclosed after 3 months but before 6 months from the date of deposits, no interest will be paid. For deposits foreclosed after 6 months, an interest of 2% shall be deducted from the normal rate of simple interest for the period of deposit.

In case of premature claim before the maturity of Recurring Deposit, the following charges will be levied:

♦ Daily Deposit Scheme

Daily Deposit schemes allow members with an opportunity to build up their savings through regular monthly deposits of a fixed sum over a fixed period. The Minimum Period of DDS is 6 months, and the maximum is 60 Months.

The minimum amount to be deposited is Rs. 100/- per month and thereafter multiples of Rs. 500/- must be deposited.

♦ Fixed Deposits

PFL Nidhi offers fixed deposits that are low-risk investments generating benefits such as guaranteed returns, flexible tenure, and loan against FD, among others. Two types of FD accounts are available:

1. Non-Cumulative Fixed Deposit

A monthly income fixed deposit account is a type of Fixed Deposit where the interest earned is credited directly back to the investors account per month. This deposit helps in creating wealth and fetches higher interest than the savings account.

NON-CUMULATIVE SCHEME (ROI) PER 1,00,000/-

FD Schemes	Period	Rate of Interest(P.A)	Monthly Payout	Period Payout
FD-12	12 months	8.46%	705.00	8,460.00
FD-24	24 months	8.94%	1,490.00	17,880.00
FD-36	36 months	9.41%	2,352.50	28,230.00
FD-48	48 months	9.87%	3,290.00	39,480.00
FD-60	60 months	10.32%	4,300.00	51,600.00

Conditions of Non-Cumulative FD:

• Any deposit with PFL NIDHI LIMITED cannot be below Rs. 10,000/-.
• A nomination is compulsory for every member who deposits with PFL NIDHI and in cases where the nominee is a minor a guardian should be competently appointed.
• TDS Deduction Forms 15 H for senior citizens, those who are 60 years or older, and Form 15G for everybody else is mandatory.
• The monthly interest for the deposit will be transferred to the savings account of the customer opened in the Branch.
• A Savings account must be mandatorily opening for every deposit with PFL NIDHI LIMITED.
• A FD (Monthly Income Scheme) can be opened only for a single individual or joint account.
• A Minor cannot open an FD (Non –Cumulative FD) Account.
• Cash will be accepted up to Rs. 50,000/- and above which all transactions will be carried out only through DD or Cheque.
• The maturity / Pre-closure amount will be paid through a/c payee cheque.
• Loan facilities are available from the Fixed deposits made with PFL NIDHI LIMITED.
• Interest Rate – Actual Interest rate of deposit + 2%.
• Those who have opted for the loan on term deposit with interest (Monthly/ Quarterly / Half-yearly / Yearly) shall be channelized to the loan account and not to the SB Account agreed upon earlier.
• Loss of FD Receipt Rs. 260/- with an affidavit in Rs. 200 Stamp Paper.

Pre-Closure Conditions: (Monthly Income Scheme)

If the customer opted for pre-closure of the fixed deposit before expiry, the interest will be revised to the corresponding interest rate fixed for the period where the date of the pre-closure date falls. An additional 2.5% will be deducted from this rate as penalty.

2. Cumulative Fixed Deposit

CUMULATIVE OPTION (ROI PER ANNUM)

Tenure	Interest Rate	Interest Rate (applicable to senior citizens)
1 Years	9.00%	9.50%
2 Years	9.50%	10.00%
3 Years	10.00%	10.50%
4 Years	10.50%	11.00%
5 Years	11.00%	11.50%

For Example:

I Want to Book My FD For 1 Year 2 Years 3 Years 4 Years 5 Years

Invest Amount	Return 1st Year	Return 2nd Year	Return 3rd Year	Return 4th Year	Return 5th Year
ROI	11.00%	11.00%	11.00%	11.00%	11.00%
20000	1800.00	2071.00	2387.10	2757.10	3191.67
50000	4500.00	5177.50	5967.75	6892.75	7979.18
100000	9000.00	10355.00	11935.50	13785.50	15958.36
250000	22500.00	25887.50	29838.75	34463.76	39895.90
500000	45000.00	51775.00	59677.50	68927.51	79791.80

Conditions :

• Minimum deposit amount: Rs. 5,000 | Maximum deposit amount: No Limit.
• Nomination compulsory, in case of the nominee, a minor guarantor should be competently appointed.
• Monthly interest will be transferred to the Savings Account of the customer opened n the branch.
• FD (Term Scheme) can be opened only for an individual with no joint account facility available.
• Minor can open FD (Term Scheme) Account.
• Cash remittance is permitted up to Rs. 50,000/- and above that only cheque or DD will be accepted.
• Additional interest of 0.50% for senior citizens (aged 60 years and above) will continue to be available only for deposits up to Rs.1 lakh and above on all deposits.
• All interest payments are entitled to TDS Seduction as per Govt Instruction.
• Maturity / Pre-closure amount will be paid through a/c payee cheque only.
• Loan facility available from the deposit.
• Loan eligibility – 80% of the deposit amount.
• Interest rate – 2% more than the deposit interest rate on a compounding basis.

Pre-Closure Conditions: (Monthly Income Scheme)

If the customer opted for pre-closure of the fixed deposit before expiry, the interest will be revised to the corresponding interest rate fixed for the period where the date of the pre-closure date falls. An additional 2% will be deducted from this rate as penalty.

Auto –Renewal Facility

If you do not provide any specific instructions, the TDR account is not automatically renewed upon the maturity time. It will be renewed for the same period for which it was opened initially as per Government law (Nidhi Rule). The interest rate for the renewed period will be the interest rate on the day of maturity.

Premature Closure

Premature closure of Term Deposit is possible. However, there will be a penalty for doing so. The penalty amount is generally 2.5% of the interest earned. The penalty amount may not change from time to time.

Loan facility

Loan facility is available up to 80% of the deposit amount.

TERMS AND CONDITIONS

• A nomination is compulsory for every member who deposits with PFL NIDHI LIMITED and in cases where the nominee is a minor, a legal guardian should be competently appointed.
• TDS Deduction Forms 15 H for senior citizens, those who are 60 years or older, and Form 15G for everybody else is mandatory.
• The monthly interest for the deposit will be transferred to the savings account of the customer opened in the Branch.
• A FD (Monthly Income Scheme) can be opened for a single individual or a joint account facility is also available.
• A Minor cannot open an FD Account by themselves.
• Cash will be accepted up to Rs. 25,000/- and above which all transactions will be carried out only through DD or Cheque.
• Maturity / Pre-closure amount will be paid through a/c payee cheque.
• In case of a loss of FD Receipt, Rs. 260/- with affidavit in Rs. 200 Stamp Paper is mandatory.

♦ Mortgage Loan

• Mortgage Loan:- Loans on all type of properties.
• Loan Amount – Rs. 1 Lac to 15 Lacs.
• Tenor – 2 Years to 10 years.
• Processing Fees - Competitive and Transparent Processing charges.
• Credit Shield - Life credit shield and property insurance options.

♦ Business Loan

• Loan Amount :- Rs 50000 to 15 Lacs.
• Tenor – 1 year to 3 years
• Processing Fees - Competitive and Transparent Processing charges.

♦ Loan Against FD

• Loan Amount – Up to 80 % for Fixed Deposit.
• ROI – 2% For Fixed Deposit Interest Rate.