What is the Minimum and Maximum Fixed Deposits Tenure?
by Ankit Nagpal
30 January, 2024
Explains the minimum and maximum tenure norms for fixed and recurring deposits accepted by a Nidhi Company under the Nidhi Rules, 2014.
The fixed deposits shall be accepted for a minimum period of six months and a maximum period of sixty months.
A Nidhi may offer interest on FIXED DEPOSITS at a rate not exceeding the maximum rate of interest prescribed by the Reserve Bank of India which the Non-Banking Financial Companies can pay on their public deposits.
Currently, NBFC’s can pay upto 12.5% p.a. rate of interest on their public deposits. So, the same will apply to the NIDHI as well, Maximum rate of interest which NIDHI can pay on their Fixed Depoit is 12.5% p.a.
