Corporate Identity No: U65992PN2012PTC143624
NAGASHIVA CHIT FUND PVT LTD
A Government Registered ChitFund Company
A Government Registered ChitFund Company
Only Nagashiva chit member are eligible to invest in Chit Fixed Deposit
‣ A Chit Fixed Deposit is a financial instrument provided by Our Company which provides Chit investors with a higher rate of interest than a regular savings account, until the given maturity date. may not require the creation of a separate account.
‣ You know at the time of investing what interest rate you will get and how much money you will receive at the time of maturity. You also get an option of selecting regular payout of interest.
‣ Encourages Savings : “Do not save what is left after spending, but spend what is left after saving.” This stresses the importance of savings. A Chit fixed deposit account holder will inadvertently save money, since Chit Fixed Deposit's require the holder to invest a lumpsum amount for a fixed period of time. Premature withdrawals attract penalties.
‣ Safe Investment : Chit Fixed Deposit's are risk free investments. Unlike other investment tools, Chit Fixed Deposit's are not market-driven. You get an assured sum of money at the end of the maturity period.
‣ Liquidity :An asset is liquid when you can easily convert it into cash.Chit fixed deposit's are liquid.Chit fixed deposit's can be withdrawn as and when needed,Thus, you always have a certain sum of money to Nagashiva Company on, but Nagashiva Company fixed deposit customer cancel the fixed deposit agreement then penalty 1% will be charged.
‣ Higher Rates for Senior Citizens : Senior citizens can earn more from their life's savings and move one step closer to no-compromise retired life
The Fixed Deposit Period with Nagashiva Company will be Minimum of 1 Year.
1. Fixed Deposit Member Deposit interest will be 9% per annum if taken monthly and interest will be 9.15% if taken annually.
2. Senior Citizen Fixed Deposit Member Deposit interest will be 9.25% per annum if taken monthly and interest will be 9.40% if taken annually.
3. If the one year term deposit is withdrawn by the member within 90 days, the company does not pay interest to the member and 1% cancellation fee will be charged from the deposit amount.
4. If the one year term deposit is withdrawn by the member within 91 to 180 days, the company pays 4% interest to the member and 1% cancellation fee will be charged from the deposit amount.
5. If the one year term deposit is withdrawn by the member within 181 to 270 days, the company pays 4.50% interest to the member and 1% cancellation fee will be charged from the deposit amount.
6. If the one year term deposit is withdrawn by the member within 271 to 365 days, the company pays 6.50% interest to the member and 1% cancellation fee will be charged from the deposit amount.
7. If fixed deposit is to be taken by customer before your maturity period, a 1 per cent penalty will be levied on your fixed deposit amount and this rule will apply to customers of less than three years period. Customers of more than four years to five Years period will be charged 1.50 per cent penalty and more than six years period will be charged 2 percent penalty.
8. Fixed Deposit Members can get 90% loan on deposit and the interest rate on this loan will be 2% months but the document fee for the loan is 0.50%
9. Fixed Deposit The member can take the deposit amount anytime 24 hours 7 days
