Terms and Conditions

The following terms and conditions are applicable for deposit application in FBI Nidhi Limited

1. Government of India Recognized under Section 406 of the Companies Act 2013 read with the Funds Rules 2014 theirvalue function is to borrow money among its members and come under Non-Banking Indian Finance Sector.
2. It is necessary to be a member of the company for deposit application
3. Age must be 18 years to become a member.
4. Identity card, permanent and current address and passport size three photographs are mandatory to become a member.
5. Applications will be accepted for minimum 12 months and maximum 84 months under the scheme, daily deposit, recurring fixed monthly pension, etc.
6. In these schemes, minimum daily deposit of ₹ 100, recurring deposit of ₹ 500 and fixed ₹ 5000 will be accepted.
7. Advance (unmatured) payment made under these schemes for any reason will be as follows.
   1. 12 Months Daily Deposit and Recurring or Fixed Deposit schemes will be paid after deducting 40% from the principal amount, valid then the account should be continuously deposited for at least 3 months.
   2. In the 12-month daily deposit, recurring or fixed deposit scheme, after 12 months, 40% deduction and on completion of 18 months, 2% interest will be paid.
   3. In the daily deposit of 36 months, in the recurring fixed deposit scheme, after 12 months, 40% deduction and for 18 months and 24 months, 5% interest will be paid on the principal.
   4. In 60 months daily deposit recurring fixed deposit scheme, 40% deduction on 12 months and 6% on 18 months and 24 months, 10% interest on 36 months and 20% on 48 months deposit will be paid by applying interest.
   5. Daily deposit of 12 and 24 and 36 and 84 months. Recurring Fixed Deposit Scheme Act, in case of premium deposit, on completion of time, interest will be paid by applying 2% 4% 6% 7.5 % annual interest respectively.
   6. Premium for plans like Daily Deposit, Recurring Term, etc. will be deposited after delay of more than one month with 2% of premium charged from the next month.
   7. Daily Deposit, Recurring Term etc. The premium of the schemes is mandatory to be deposited in full, if for some reason it is not deposited then 40% of the principal amount will be refunded with deduction.
8. FBI Funds Limited may at any time change the terms and conditions or timing or interest rates.
9. Loan in monthly pension scheme MIS that advance payment facility will not be given
10. It takes 7 to 30 days from the date of filling the refund cancellation form.