A Nidhi Company is a Company which carries on the business of accepting deposits from and lending the same on demand to its members. The main aim of these companies is to work for the mutual benefit of its members.
A Nidhi Company must be registered as a Public Limited Company in order to be formed. So, in order to incorporate a Nidhi Company, the following criteria must be met:
  • It must have at least three directors.
  • It must have at least seven members.
  • The main goal of the MOA should be to instil the habit of thrift and saving among its members. And it can only accept deposits and lend money to its members, and it works for their mutual benefit.
Once the Nidhi Company is incorporated it must fulfill the following requirements:
  • It must have at least 200 members/shareholders.
  • Minimum Net Owned Fund should be Rs. 10 Lakhs.
  • Unencumbered term deposit must be at least 10% of the term deposit.
  • The ratio of Net Owned Fund to term deposit should not be less than 1:20.
We are not entitled to carry on the business of Hire Purchase Financing, Insurance, Chit Funds and Acquisition of securities or Issue of any Debt Instruments under Jayapriya Nidhi Limited.
Following provisions are applicable to Jayapriya Nidhi Limited.
  • As we are incorporated into the nature of Public Company so rules and regulations of Companies Act 2013 are applicable.
  • RBI provisions related to Interest rate payable on deposit are applicable to Nidhi Companies. But the core provisions of RBI are not applicable to Nidhi Companies as RBI has exempted the Nidhi Companies from the same.
  • Nidhi Rules, 2014.
We provide loans at minimal interest rates and minimum documentation. Secured investments and guaranteed return by us.
Yes, the Deposits with Jayapriya Nidhi Limited are safe and secure because the Ministry of Corporate Affairs and Reserve Bank of India has framed rules and regulations to ensure the safety and security of Deposits. As a Nidhi Company, we are compulsorily following the rules of the Central Government.
The Nidhi Company uses the funds in lending to shareholders as per Nidhi Rules. It lends such money in the form of small loan for business and finance.
Any person who is above 18 years of age can become a member of the Nidhi Companies. The person desirous of becoming a member should have valid ID Proof and Address Proof.
We cannot provide membership to minors as per nidhi company rules, but deposits made in the minor's name can be accepted if that made by a natural or legal guardian who is a member of the respective Nidhi.
Nidhi can provide loans to its members only after the members have given/ provided some securities like gold, silver jewellery or any type of financial securities against the loan.
Nidhi shall not issue preference shares.
Every Nidhi shall, within a period of one year from the commencement of these rules, ensure that it has not less than two hundred members;
The Director shall be a member of Nidhi. Therefore, it is mandatory for director of Nidhi Company to hold shares.
Equity shares of the face value of not less than ten rupees.
Savings Deposit, Fixed deposit, recurring deposit, Cumulative Deposit these are the deposit scheme we are offering.
A Nidhi shall not accept deposits exceeding twenty times of its Net Owned Funds (NOF) as per its last audited financial statements.
Those who wish to invest and earn a higher rate of interest should opt for Jayapriya Nidhi Ltd Cumulative deposit scheme.
The scheme can be taken by any individual, single or joint firm, corporate, etc.
The deposit period offered by Jayapriya Nidhi Ltd for its Cumulative deposit scheme ranges from 12 months to 72 months.
Yes, loan of up to 80% of the deposit is available against the Jayapriya Nidhi Ltd deposit scheme.
Yes, nomination facility is available and you can choose a nominee of your choice.