Monthly Income Scheme

Umavasudev Nidhi Limited

MONTHLY INCOME PLAN

Financial freedom comes from making the right choices while investing.
This scheme features interest payable at the contracted rate every month, on the fixed deposit which is accepted for any period from 1 year to 5 years. Suitable for investors who want to earn a regular fixed income with guaranteed returns at a certain rate of interest every month. If you’re looking to get monthly income, you can choose the option to get payouts on a monthly basis.

Safe Investment

Flexible Tenure

Higher Interest Rates

Fixed Monthly Income

Amount 3 Year

11%

 5 Year

12.5%
AMT.
(Amount)		 MLY RETURN HLY RETURN YLY RETURN MATURITY AMT. MLY RETURN HLY RETURN YLY RETURN MATURITY AMT.
50000 458 2750 5500 50000 520 3125 6250 50000
100000 916.6 5500 11000 100000 1041.6 6250 12500 100000
200000 1833.3 11000 16500 200000 2083.3 12500 25000 200000
300000 2750 16500 33000 300000 3125 18750 37500 300000
500000 4583 27500 55000 500000 5208.3 31250 62500 500000

Terms & Conditions:

  1. Minimum MIS Deposit amount would be of Rs.25,000 and further in multiple of Rs.10,000.
  2. Interest/ Income will be served on Monthly basis as per the scheme opted.
  3. Interest/ Income amount will be subject to TDS as per provisions of the Income Tax Act 1961 and rules made thereunder.
  4. Loan available against MIS Deposit up to 75% of deposited amount after one month from the date of deposit.
  5. Rate of Interest on loan against MIS Deposit would be 6% higher than applicable rate of interest to your deposit.
  6. Rate of Interest for Senior Citizen shall be 0.50 higher than normal prevailing interest rate.
  7. The company reserves the right to reject any application for opening the account without assigning any reason.
  8. The company reserves the right to attach/transfer any account to any its branch.

Loan Facility on Deposits:

  1. Loan available against Fixed Deposit up to 75% of deposited amount after one month from the date of deposit.
  2. Rate of Interest on loan against FD would be 6% higher than applicable rate of interest to your deposit.

Maturity:

  • The Member Account Holder shall surrender the FD Receipt and duly signed maturity form to the company and the maturity shall be paid along with interest as per the applicable scheme of the company.
  • No additional interest would be paid on the maturity amount, if taken after the scheduled period
  • Maturity Amount shall be paid to the Member Account Holder’s saving account with the company within 7 working days from the date of demand made with the company.

Pre-Mature Closure Of Deposits:

  1. Foreclosure of Deposits will not be permitted until completion of 3 months from the date of Deposits.
  2. Deposits foreclosed after 3 months but before 6 months from the date of Deposits no Interest will be paid.
  3. Deposits foreclosed after 6 months, interest at 2% shall be deducted from the normal rate of Simple Interest for the period of Deposit.
* Illustrative calculation of the deposits.