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WHAT IS MAXIMUM RATE OF INTEREST ON LOAN GIVEN BY NIDHI?

Published on:
January 30, 2024

The rate of Interest to be charged on loan given by Nidhi can not go above seven and a half percent (7.5%) above the highest rate of interest offered on deposits by Nidhi Company.

EXAMPLE:

Interest offered to the depositor 1: 9.5%

Interest offered to the depositor 2: 8.5%

 So, the maximum rate of interest a NIDHI can charge is 9.5% + 7.5% = 17%

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