Terms and Conditions

Last Updated: October 2025

Welcome to Reja Indian Nidhi Limited. By accessing our website and using our services, you agree to comply with and be bound by the following terms and conditions. Please read them carefully.

1. Acceptance of Terms

By using our services, you acknowledge that you have read, understood, and agree to be bound by these Terms and Conditions and our Privacy Policy. If you do not agree with any part of these terms, please do not use our services.

2. About Reja Indian Nidhi Limited

Reja Indian Nidhi Limited is a Nidhi Company registered under Section 406 of the Companies Act, 2013, and regulated by the Ministry of Corporate Affairs (MCA). We operate in accordance with the Nidhi Rules, 2014, and subsequent amendments.

3. Eligibility

To use our services, you must:

• Be at least 18 years of age or the age of majority in your jurisdiction
• Be a resident of India
• Have the legal capacity to enter into binding contracts
• Provide accurate, complete, and current information during registration
• Not be barred from using financial services under any applicable law
• Not have been previously suspended or removed from our services

4. Services Offered

We offer the following services exclusively to our members:

• Fixed Deposits: Term deposits with attractive interest rates
• Recurring Deposits: Monthly savings schemes
• Loans: Loans to members against their deposits
• Membership Services: Share allocation and member benefits

5. Membership Requirements

To become a member and access our services:

• Complete the membership application form
• Purchase minimum required shares as per company bylaws (typically 10-50 shares)
• Submit KYC documents (Aadhaar, PAN, address proof, photographs)
• Pay applicable membership and share capital fees
• Undergo verification process
• Sign the Member's Agreement

6. Account Registration and Security

You are responsible for:

• Maintaining the confidentiality of your account credentials
• All activities that occur under your account
• Notifying us immediately of any unauthorized access or security breach
• Keeping your contact information and KYC details up to date
• Not sharing your account with others

7. Deposits

7.1 Terms Applicable to Deposits

• Deposits are accepted only from members
• Interest rates are as per company policy and subject to change
• Minimum and maximum deposit limits apply
• Premature withdrawal is subject to penalties and conditions
• Auto-renewal options available for fixed deposits
• Deposits are not insured by DICGC (Deposit Insurance and Credit Guarantee Corporation)

7.2 Fixed Deposit Terms

• Tenure: 6 months to 5 years
• Interest payment: Monthly, quarterly, annual, or on maturity
• Nomination facility available
• Joint deposit accounts permitted

7.3 Recurring Deposit Terms

• Monthly installment amounts ranging from ₹500 to ₹50,000
• Tenure: 12 to 60 months
• Late payment charges apply for missed installments
• Advance installment payments allowed

8. Loans

8.1 Loan Terms and Conditions

• Loans are available only to members against their deposits
• Loan amount: Up to 25-30% of deposit value
• Interest rates as per current policy
• Processing fees and other charges apply
• Repayment tenure: As per loan agreement
• EMI or lump sum repayment options available

8.2 Loan Approval Process

• Submit loan application with required documents
• Credit assessment and verification
• Approval by authorized committee
• Execution of loan agreement
• Disbursement within 3-7 working days

8.3 Loan Default and Recovery

• Late payment charges apply for overdue EMIs
• In case of default, deposit may be appropriated
• Legal action may be initiated for recovery
• Credit bureau reporting for defaults

9. Fees and Charges

Applicable fees and charges include:

• Membership fee: ₹0.0 (one-time, non-refundable)
• Share capital: As per company bylaws
• Loan processing fee: % of loan amount
• Late payment charges: 10% per month on overdue amount
• Premature withdrawal penalty: 0% of deposit amount
• Statement generation fee: ₹0 per statement
• Cheque bounce charges: ₹0 per instance

10. Prohibited Activities

You agree not to:

• Provide false, misleading, or fraudulent information
• Use our services for money laundering or illegal activities
• Attempt to gain unauthorized access to our systems or data
• Violate any applicable laws, regulations, or rules
• Transfer or assign your membership to others without permission
• Use automated systems (bots) to access our services
• Engage in activities that harm our reputation or operations

11. Know Your Customer (KYC) Compliance

In compliance with regulatory requirements:

• KYC documents must be submitted at the time of membership
• Periodic KYC updates may be required
• Failure to provide KYC may result in service suspension
• We reserve the right to verify information provided

12. Intellectual Property

All content on this website, including text, graphics, logos, images, software, and trademarks, is the property of Reja Indian Nidhi Limited or its licensors and is protected by Indian and international intellectual property laws. Unauthorized use is prohibited.

13. Limitation of Liability

To the maximum extent permitted by law:

• We are not liable for indirect, incidental, or consequential damages
• Our liability is limited to the amount of your deposits with us
• We are not responsible for third-party actions or system failures
• Force majeure events absolve us from liability

14. Indemnification

You agree to indemnify and hold harmless Reja Indian Nidhi Limited, its directors, officers, and employees from any claims, damages, or expenses arising from your violation of these terms or misuse of our services.

15. Modifications to Terms

We reserve the right to modify these Terms and Conditions at any time. Changes will be effective immediately upon posting on our website. Continued use of our services constitutes acceptance of the modified terms. Material changes will be notified via email or SMS.

16. Account Suspension and Termination

We may suspend or terminate your account if:

• You violate these terms and conditions
• You engage in fraudulent or illegal activities
• You provide false information
• Your account remains inactive for an extended period
• Required by law or regulatory authorities

Upon termination, all outstanding obligations remain payable.

17. Dispute Resolution

In case of disputes:

• First attempt resolution through our customer service
• Escalate to our Grievance Redressal Officer if unresolved
• If still unresolved, disputes shall be subject to arbitration as per the Arbitration and Conciliation Act, 1996
• Arbitration shall be conducted in Chanchal

18. Governing Law and Jurisdiction

These Terms and Conditions shall be governed by and construed in accordance with the laws of India. Any disputes arising out of or relating to these terms shall be subject to the exclusive jurisdiction of the courts in Chanchal, West Bengal.

19. Severability

If any provision of these terms is found to be invalid or unenforceable, the remaining provisions shall continue in full force and effect.

20. Entire Agreement

These Terms and Conditions, along with our Privacy Policy and other policies, constitute the entire agreement between you and Reja Indian Nidhi Limited regarding the use of our services.