Note: If a depositor opts for the 5-year scheme but withdraws the deposit after completing 3 years and before the scheduled maturity date, the principal amount shall be subject to a penalty deduction of 0.5% per month, and the maturity amount will be calculated as per the Company’s premature withdrawal policy. Note: All schemes will mature only after the successful completion of their respective tenure, subject to the terms and conditions of the Company.
Term & Condtions
Urbanrise India Nidhi Limited is a Nidhi Company incorporated under the Companies Act, 2013 and operates in accordance with the applicable provisions of the Companies Act and the Nidhi Rules, as amended from time to time.
Membership is mandatory. Only registered members of the Company are eligible to open deposit accounts and avail Company services.
The interest rate applicable shall be the rate prevailing on the date of acceptance of the deposit and approved by the Company’s Board of Directors.
Maturity amount shown in this brochure is indicative and subject to applicable terms, conditions, statutory provisions, and deduction of taxes (if applicable).
Premature closure of deposits shall be governed by the Company’s policy and applicable Nidhi Rules. Interest, if payable, shall be calculated as per the Company’s approved premature withdrawal policy.
Daily Deposit (DDS), Recurring Deposit (RD), Fixed Deposit (FD), and other schemes are subject to their respective scheme rules.
Depositors are advised to preserve their passbook, deposit receipt, and other documents carefully. Loss of documents should be reported immediately to the Company.
Nomination facility is available and members are encouraged to register a nominee at the time of opening the deposit.
Payment of maturity proceeds shall be made after verification of original documents and completion of the required formalities.
The Company reserves the right to accept or reject any deposit application without assigning any reason, subject to applicable law.
Interest rates, schemes, and policies are subject to revision from time to time as approved by the Board of Directors and applicable regulations.
The Company shall not be responsible for incorrect information provided by the depositor in the application form.
All disputes shall be subject to the jurisdiction of the competent courts where the Company’s Registered Office is situated.
TDS and other statutory deductions, wherever applicable under the Income-tax Act or any other law, shall be deducted before payment.
This brochure is for information purposes only and does not constitute a legal contract. In case of any dispute, the Company’s official records and applicable laws shall prevail.
Important Note
Interest rates and schemes are subject to change without prior notice. Please contact the nearest branch or the Company’s authorized representative for the latest rates and scheme details before investing.