Recurring Deposit Scheme:- LR Nidhi Limited
Amount Time Period Interest Rate Maturity Amount
500 12 Months 10.00% 6320
500 24 Months 10.50% 13337
500 36 Months 11.00% 21228
500 48 Months 11.26% 30357
500 60 Months 11.26% 40298
Terms & conditions:-
➤ It is mandatory to be a member in the company.
➤ Company will issue ten shares (10/- Rs each) for RD Plan.
➤ Interest will be calculated on yearly basis.
➤ Recurring Deposit minimum amount Rs 500/-, thereafter in multiples of Rs 100/¬
➤ Loan on deposits will be charged at 18% yearly compound interest basis.
➤ 1 month after paying last instalment or maturity amount due date whichever is more will be applicable for payment of maturity amount.
➤ Irregular deposits are not entitled for pre mature payment and loan facility against it.
➤ On irregular deposits if all irregular pending deposits are paid then such account will be treated as regular. Even if there is default in payment of 1 instalment, the said account will be treated as irregular.
➤ After maturity date, 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.
➤ R.D. will not be premature within first 3 month.
➤ If R.D. is matured after 3 month but before 6 month no interest will be paid.
➤ After depositing the premium of 6 months, any type of interest will not be given.
➤ If any person premature its R.D then the person will be paid 2% , less of maturity interest after 6 months to 60 months.
➤ in case of death of a depositor, the company will repay to nominee or beneficiary the principal & interest, at which it was accepted.
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