Terms & Conditions
The legal and operational terms governing your membership, deposit schemes, and secure loans at Swabhiman Pawan Nidhi Limited.
Effective Date: May 20, 2026
Welcome to the digital portal of Swabhiman Pawan Nidhi Limited. By accessing this website or applying for membership and transacting with us, you agree to comply with and be bound by the following Terms & Conditions.
Please read these terms carefully. Under the Nidhi Rules, 2014, our operations are strictly confined to our registered shareholder-members. We do not transact, accept deposits, or disburse loans to the general public.
1. Shareholding & Membership Rules
To engage in any financial transaction with Swabhiman Nidhi, you must first become a registered member:
- Minimum Equity Allotment: Every member must hold at least 10 equity shares or shares worth ₹100. For joint accounts, shares will be allotted in the primary member's name.
- Age & Eligibility: Any individual above the age of 18 who is a citizen of India is eligible to apply. Minors may open savings accounts through a legal guardian, but do not enjoy voting privileges.
- Strict Member-Only Restrictions: In compliance with Section 406 of the Companies Act, we do not allow non-shareholders to make deposits or receive credit.
- Termination: Membership can be cancelled if documents are found to be fraudulent or upon the member's request to transfer/surrender their equity share value.
2. Deposit Scheme Regulations
Our Savings, Fixed, and Recurring Deposit schemes are governed by maximum rate thresholds set by the Ministry of Corporate Affairs (MCA):
- Maximum Interest Rate: In accordance with RBI guidelines, Nidhi companies cannot offer interest rates exceeding those prescribed for NBFCs. Currently, our maximum FD rate is capped up to 11.5% p.a.
- Premature Withdrawal: Premature withdrawals are permitted but subject to Nidhi rules. No interest will be paid if withdrawn within 3 months of deposit. Interest penalty apply for early closures between 3 to 6 months.
- TDS (Tax Deducted at Source): Tax will be deducted from your interest income as per Income Tax Act rules, unless Form 15G/15H is submitted.
3. Secured Loan Guidelines
Loans are sanctioned strictly against collateral security, with maximum Loan-to-Value (LTV) ratios enforced under law:
- Gold Loans: Up to a maximum of 75% of the appraised gold value. Ornaments must be verified by our certified in-house valuer.
- Mortgage Loans: Sanctioned against self-occupied residential or commercial property in municipal limits. Maximum loan amount is capped by regulatory net-worth ratios.
- Default & Auction: In the event of default on interest or principal repayments for gold loans beyond the specified grace period, the company reserves the right to auction the pledged gold assets after serving due legal notice.
4. KYC & Member Obligations
All members are legally obligated to provide true, accurate, and current information:
- KYC compliance (including Aadhaar, PAN, and active contact numbers) must be maintained at all times.
- Members must immediately notify the branch or update their profile online in case of changes to their permanent or communication addresses.
- Using Nidhi financial transfers or loan sums for illegal speculative actions or money laundering is strictly forbidden.
5. Website Usage & Digital Security
When using our online portal:
- You are responsible for keeping your membership ID, portal passwords, and OTPs strictly confidential.
- You must not inject malware, attempt unauthorized data scraping, or launch distributed denial-of-service (DDoS) attacks against our digital servers.
- All website designs, content, graphics, and interactive tools are copyrighted intellectual property of the company.
6. Jurisdiction & Disputes
These terms shall be governed by and construed in accordance with the laws of India. Any dispute arising out of or in connection with membership, deposits, or loans shall be subject to the exclusive jurisdiction of the courts located in New Delhi, India.