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NIDHI

Shree Guru Mahaveer Chits Pvt Ltd

Nidhi

Fixed Deposit

A Fixed Deposit (FD) is a financial investment where you deposit a certain amount of money with a bank or financial institution
for a fixed period at a predetermined interest rate. Unlike a regular savings account, an FD offers higher interest rates and
guaranteed returns, making it a secure investment option.

Period (months) Effective yield %p.a. Yearly Int. value for Rs.5,000/
6
8.50
5,212.50
12
9.75
5,487.50
18
10.50
5,787.50
24
11.00
6,100.00
36
12.00
6,800.00

Normal Deposit Scheme

✅ Additional Interest for Senior Citizens – An extra interest of 0.60% p.a will be paid to senior citizens.
✅ Senior Citizens (who have completed age 60 on the date of deposit/renewal)
✅ Bonus on Renewals – An additional interest of 0.50% p.a will be paid on all matured deposit renewals.
✅ Special Benefit for Women – Women depositors will receive an extra 0.25% p.a interest.
✅ Deposit Flexibility – Deposits are accepted in multiples of ₹1,000, subject to a minimum of ₹5,000.

Key Features of a Fixed Deposit

✅ Low-Risk Investment – A Fixed Deposit is a safe, low-risk investment where you deposit a lump sum amount for a fixed tenure with a bank or financial institution.
✅ Guaranteed Returns – The principal amount is safe and earns a fixed rate of interest, providing assured returns at the end of the term.
✅ Tenure Flexibility – FD tenures can range from 7 days to 10 years, allowing investors to choose the duration based on their needs.
✅ Interest Rates – The interest rate typically ranges between 5% to 7% per annum, higher for senior citizens.
✅ Compounding Options – Interest can be compounded quarterly, monthly, or annually, providing flexibility to suit your preferences.
✅ Premature Withdrawal – FDs allow premature withdrawal of funds, though a penalty may be charged on the interest rate for early withdrawal.
✅ Loan Against FD – You can avail of a loan or overdraft facility against your FD without breaking it.
✅ Tax Implications – Interest earned on FDs is taxable, and tax is deducted at source (TDS) if the annual interest exceeds ₹40,000 (₹50,000 for senior citizens).
✅ Ideal for Conservative Investors – FDs are suitable for those seeking capital protection and steady returns, especially retirees and risk-averse investors.
✅ No Market Risk – Unlike stocks or mutual funds, the returns from an FD are not affected by market fluctuations.

Daily loan

A Daily Loan is a type of short-term loan where repayment is made on a daily basis rather than in monthly installments.
These loans are commonly provided to individuals or small businesses that need quick access to cash and can repay it in smaller daily amounts.

Key Features of a Daily Loan

✅ Short-Term Loan – Designed for daily financial needs with quick repayment cycles.
✅ Small Loan Amounts – Usually ranges from ₹500 to ₹50,000, depending on the lender.
✅ Daily/Weekly Repayment – Borrowers must repay in small daily installments, making it manageable.
✅ Quick Approval – Minimal documentation and instant loan disbursal.
✅ No Collateral Required – Mostly unsecured, but some lenders may require security.
✅ Best for Small Businesses & Vendors – Helps street vendors, shopkeepers, and daily wage workers manage cash flow.
✅ Flexible Loan Tenure – Ranges from 7 days to 90 days, depending on the lender.

Personal loan

A Personal Loan is an unsecured loan provided by banks or financial institutions to individuals for personal use,
without the need to pledge any collateral. These loans can be used for a variety of purposes, including debt consolidation,
medical expenses, travel, home renovation, or other personal needs.

Key Features of a Personal Loan :

✅ Flexible Usage – Can be used for any personal financial need (e.g., medical, education, wedding, etc.).
✅ Repayment Terms – Typically offered with repayment tenures ranging from 1 to 5 years.
✅ Fixed Interest Rates – The interest rate remains the same throughout the loan tenure.
✅ Quick Processing – With minimal documentation and a simple application process, personal loans can be processed quickly.

Mortgage Loan

A Mortgage Loan is a type of secured loan where the borrower pledges their property or real estate (usually a house or land)
as collateral to borrow a certain amount of money from a lender, such as a bank or financial institution.
Mortgage loans are commonly used to purchase a home,
refinance an existing property, or raise funds for personal or business needs.

Key Features of a Mortgage Loan

✅ Secured Loan – The loan is backed by property (residential, commercial, or land) as collateral.
✅ High Loan Amount – You can get up to 50%–80% of the property's market value.
✅ Lower Interest Rates – Interest rates typically range between 7%–12% per annum, lower than unsecured loans.
✅ Long Repayment Tenure – Loan tenure can go up to 30 years, making EMIs more affordable.
✅ Flexible Loan Usage – Can be used for buying property, business expansion, education, medical expenses, or personal needs.
✅ Loan Against Property (LAP) – You can take a loan against an already owned property without selling it.
✅ Tax Benefits – Interest paid on mortgage loans may be eligible for tax deductions under applicable laws.
✅ Balance Transfer Facility – You can transfer the loan to another lender for lower interest rates.
✅ Property Ownership Remains – You continue to own and use the property while repaying the loan.

Gold loan

A Gold Loan is a type of secured loan where you pledge gold jewelry or coins as collateral to borrow money from a bank or financial institution.
It allows you to access funds quickly based on the value of the gold you pledge.
Gold loans are often used for urgent financial needs like medical expenses, business investments, or personal loans.

Key Features of a Gold loan

✅ Secured Loan – The loan is given against gold jewelry or ornaments as collateral.
✅ Quick Approval & Disbursal – Minimal documentation and instant loan processing (within a few hours).
✅ High Loan-to-Value (LTV) Ratio – Borrow up to 75%–90% of the gold’s market value.
✅ Lower Interest Rates – Typically 7%–15% per annum, lower than personal loans.
✅ Flexible Repayment Options – Choose from EMIs, bullet payments, or interest-only repayments.
✅ Short-Term Loan – Loan tenure usually ranges from 6 months to 3 years.
✅ No Credit Score Required – Available even if you have no credit history or a low CIBIL score.
✅ Safe Gold Storage – Banks and NBFCs store the pledged gold securely until full repayment.
✅ No Usage Restrictions – Use the loan for business, medical expenses, education, or personal needs.
✅ Prepayment & Foreclosure Benefits – Many lenders allow early repayment with minimal or no penalty.

Small Scale Loan

A Small-Scale Loan is a short-term loan typically offered to small businesses or
individuals who need a relatively small amount of money to meet their immediate
financial needs, such as business expansion,
equipment purchase, or personal expenses.
These loans are usually offered by banks, microfinance institutions,
or non-banking financial companies (NBFCs).

Key Features of a Small Scale Loan

✅ Designed for Small Businesses – Ideal for micro, small, and medium enterprises (MSMEs), startups, and self-employed individuals.
✅ Lower Loan Amount – Typically ranges from ₹10,000 to ₹10 lakh, depending on the lender.
✅ Flexible Usage – Can be used for business expansion, equipment purchase, working capital, or stock replenishment.
✅ Collateral-Free or Secured Options – Some loans are unsecured, while others may require minimal collateral.
✅ Quick Processing & Disbursal – Faster approval with minimal documentation.
✅ Short to Medium Tenure – Loan tenure ranges from 6 months to 5 years.
✅ Competitive Interest Rates – Interest rates usually range between 10%–24% per annum, based on the lender and creditworthiness.
✅ Government Schemes Available – Eligible businesses can apply for PMMY (Mudra Loan), CGTMSE, and MSME loans.
✅ Flexible Repayment Options – EMIs or structured repayment plans to suit business cash flow.
✅ Helps Build Credit Score – Timely repayment can improve your credit history, making future loans easier to obtain.

Senior Gold loan

A Senior Gold Loan is a special type of gold-backed loan offered to senior citizens
(typically aged 60 years or above) where they can pledge their gold jewelry or coins as collateral in exchange for financial assistance.
This loan is designed to cater to the needs of older individuals who may have a significant
amount of gold but lack regular income sources for traditional loans.

Key Features of a Senior Gold loan

✅ Exclusive for Senior Citizens – Available for individuals aged 60 years and above.
✅ Secured Loan – Gold jewelry or ornaments are pledged as collateral to avail the loan.
✅ Higher Loan-to-Value (LTV) Ratio – Get up to 75%–90% of the gold’s market value.
✅ Lower Interest Rates – Special discounted rates for seniors, typically 7%–12% per annum.
✅ Instant Loan Disbursal – Quick processing with minimal documentation.
✅ Flexible Repayment Options – Pay interest-only EMIs, bullet payments, or regular installments.
✅ Short-Term Loan – Loan tenure usually ranges from 6 months to 3 years.
✅ No Credit Score Requirement – Suitable for retirees or pensioners without a strong credit history.
✅ Safe Gold Storage – Banks and NBFCs securely store the pledged gold until full repayment.
✅ No Usage Restrictions – Use the loan for medical expenses, personal needs, or emergencies.