A Nidhi Company is a non-banking mutual benefit society recognized under Section 406 of the Companies Act, 2013 and regulated by the Ministry of Corporate Affairs (MCA), Government of India. BSL Nidhi Limited (CIN: U65999UP2019PLN123616) is established to cultivate the habits of thrift and savings among its members and accepts deposits and lends money exclusively to its registered shareholders/members.
Any Indian citizen aged 18 years or above with valid identity and address proof is eligible to become an equity member/shareholder of BSL Nidhi Limited. In accordance with Nidhi Rules, 2014, bodies corporate, trusts, and minors cannot be enrolled as voting members.
Yes. BSL Nidhi Limited operates under strict statutory prudential norms prescribed by the Government of India. Under Nidhi Rules 2014, the company must mandatorily maintain at least 10% of total deposits in unencumbered Statutory Liquidity Ratio (SLR) accounts with scheduled commercial banks. Furthermore, loans are only granted against 100% tangible collaterals (gold, freehold property, or term deposit certificates), ensuring total safety of member funds.
Yes! Members can conveniently access their account status, passbook transactions, and loan statements 24/7 through our dedicated member portal at online.bslfinance.in.
Deposit Schemes FAQs
FD, RD, MIS, DDS, Savings
BSL Nidhi Limited offers Fixed Deposit terms ranging from 12 Months to 60 Months with competitive annual interest rates up to 12.00% p.a. Senior citizens (60+ years) are entitled to an additional 0.50% interest across eligible tenures.
Recurring Deposit allows members to deposit a fixed monthly installment (starting as low as ₹500/month) for a chosen duration from 12 Months to 60 Months, earning guaranteed compounded interest up to 11.50% p.a. at maturity.
Under MIS, you invest a lump sum for a fixed period (1 to 5 years). The accumulated interest is calculated and credited directly into your BSL savings account or bank account on the same day every month, providing a reliable source of monthly income for retirees and families.
The Daily Deposit Scheme is designed for merchants, small business owners, and daily wage earners. You can deposit starting with ₹20 or ₹50 daily. Our authorized field agents provide convenient doorstep daily collection with instant receipt generation.
The minimum Monthly Average Balance (MAB) is ₹1,000 for standard accounts and ₹500 for Women & Senior Citizens. Savings accounts earn attractive daily product interest of up to 5.50% p.a., substantially higher than typical commercial bank savings rates.
Yes. Nomination is available and highly recommended for all deposit accounts (FD, RD, MIS, DDS, SA) to ensure hassle-free settlement for legal heirs.
Premature closure is permitted in accordance with the lock-in and interest penalty provisions specified under Nidhi Rules, 2014. Alternatively, members can take a loan against deposit up to 90% to meet urgent needs without losing interest returns.
Loan Products FAQs
Gold, LAP, Deposit & Securities
Gold Loans at BSL Nidhi Limited are sanctioned and disbursed in just 15 to 30 minutes following rapid purity assessment. Pledged gold ornaments are secured inside bank-grade high-security fireproof vaults with comprehensive insurance coverage.
You can avail up to 90% of your active deposit principal balance as an instant secured loan. Your underlying deposit continues to earn full interest throughout the loan period without any loss of returns.
We accept residential houses/flats and commercial properties having clear, marketable freehold title deeds free of encumbrance or legal disputes. Valuations and title search are performed by our authorized panel valuers.
Yes. We accept National Savings Certificates (NSC), Kisan Vikas Patra (KVP), Government Securities, and life insurance policies with active surrender value by marking a formal lien/pledge with the issuing authority.
No. BSL Nidhi Limited believes in 100% transparent financial relationships. All interest rates, loan margins, and processing costs are clearly declared upfront in compliance with Nidhi Rules, 2014, with no hidden foreclosure penalties.
Account Operations & KYC FAQs
Documentation & Support
To complete KYC verification, please provide:
Identity Proof: Aadhaar Card, Voter ID, Passport, or Driving License.
PAN Card: Copy of PAN Card (or Form 60/61 if PAN is not available).
Address Proof: Electricity bill, telephone bill, or municipal tax receipt.
Photographs: 2 recent passport-size color photographs.
Under Section 194A(3)(v) of the Income Tax Act, 1961, payments of interest by a cooperative society or Nidhi company to its members are subject to specific statutory provisions. Members may submit Form 15G or Form 15H if their total income is below the taxable threshold to prevent tax withholding.
