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SARVSUVIDHA NIDHI LIMITED is a public limited company, registered and incorporated under companies act 2013. It is authorized by government to take deposit and give loans to its members. Interest rate on Deposits are governed by RBI from time to time which is similar to commercial banks. Nidhi company can give loans only against security, such as gold, property etc. Nidhi follows prudential norms issued by RBI for accounting, classification of loans and income recognition.

Nidhi Companies are not chit fund companies. Chit fund companies are governed by chit fund act and rules. While nidhi companies are governed by companies act 2013, nidhi rules issued by central government and RBI.

Under Chit Fund, specified number of people subscribe a certain sum of money by way of periodical installments over a definite period and each subscriber shall be entitled to the prize amount turn by turn, as determined by lot or by auction.

Nidhi companies give secured loans (Gold Loan, loan against property and other specified securities) and take deposit as per the nidhi rules 2014, issued by ministry of corporate affairs. Interest rate on Deposit and Loans are governed by RBI from time to time which is similar to commercial banks. Nidhi company can give loan only against security, such as gold, property etc. Nidhi follows prudential norms issued by RBI for accounting, loan classification and income recognition.

Anyone who is the member and owns gold ornaments can avail the loan. (Note: Minors are not eligible.) To obtain the loan, you need to submit your gold jewellery (within the Karat range of 18 to 24 k). The loan amount will be sanctioned on the basis of gold valuation which involves verification of its purity. The weight of stones etc fixed on the ornaments will be deducted for the intention of valuation.

To abide by the KYC (Know Your Customer) Policy of RBI and approved KYC norms of our Company, we insist to produce one document of identity proof (Such as Ration Card with photo, Driving License, PAN Card, Voter ID card, Passport, Aaadhar Card etc.) and one document of residential address proof (Such as Telephone Bill,Electricity Bill, Water Bill, Bank account / Credit Card Statement, Municipal / Local/House Tax Bill / Receipt, Authentic Rent Receipt / Lease Document, Letter from from reputed employer/ Public Authority).

There are no end-use restrictions in gold loans. You can use the loan taken for any legal purpose.

Our gold loan products have a maximum tenure of one year. However, loan can be renewed again after period of one year.

Our base rate of interest is 1 percent per month (12 percent per year). However, depending upon how high the loan to value (LTV) is, additional interest (amounting to risk premium) ranging from 4-8 percent is charged over and above the base rate. The interest and risk premium is applicable only for the days the money was actually utilised. There are no prepayment penalties.Simple interest is charged, which the borrower has to pay at the specified periodicity or at the closure of loan, whichever is earlier. The interest rate is fixed and calculated on a reducing balance basis.

Once you submit your Application Form and supporting documents, we shall give approval within a matter of minutes provided everything is in order. All loan approvals are at the sole discretion of the Branch Head.

SarvSuvidha Nidhi Ltd Gold loans may be availed for any amount between Rs.1,000 to a maximum of Rs. 2 Lakh. Loans are available for periods ranging from one month to one year. Our Gold loans do not have any lock- in-period and there are no prepayment penalties. You can repay earlier than the scheduled as you desire.

Members are free to repay part amount of loan and/or accrued interest thereon at anytime in order to reduce the interest burden on the loans. Interest is calculated on daily product basis on the amount of loan outstanding at the end of the day.

We know that these gold ornaments are very precious and favorite to you. So we guarantee you that it will be in our safe hands in strong cash safes inside a strong room built as per the standards and specifications applicable to commercial banks. The pledged gold ornaments are also insured for full value. Moreover, modern electronic surveillance technology are deployed to protect your beloved gold ornaments.

The member has to submit the pawn ticket i.e pledge receipt (given to them at the time of taking loan) to the counter staff at the branches with a request to close the loan account. The staff will enquire into your account and inform you about the outstanding loan amount (Principal + Interest accrued). By depositing the outstanding loan amount with up to date interest, the loan account is closed. The branch head then hands over the ornaments to the customer against his/her acknowledgement.

No. Unlike other loans, there is no need for either a Guarantor or an Introducer and there is no need for a bank account.

Member needs to repay the loan at the end of the loan tenure only. You do not have to go through hassle of servicing EMIs every month. However, interest has to be paid periodically, as per the terms of sanction. 

Yes, the Deposits with SarvSuvidha Nidhi Limited are safe because we give loans only against security of Gold, property and other specified securities. Therefore, there is no risk even if borrower defaults in repayment. The Ministry of Corporate Affairs (MCA) and Reserve Bank of India (RBI) has framed rules and regulations to ensure the safety and security of Deposits. The Nidhi Company compulsorily abides by the rules and regulations of Central Government.

Currently rate of Interest on deposit is from 8%-11%. Rate of Interest on saving accounts is 6%.

Yes You can take loan against you deposit with SarvSuvidha Nidhi. The rate of interest on such loan will be just 3% above the rate of interest on such deposit.

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