DISCLOSURE
Regulatory information — please read before availing any facility
- BOFL Nidhi Limited is a Nidhi Company incorporated under Section 406 of the Companies Act, 2013, and functioning under the Nidhi Rules, 2014 (as amended). It is not a banking company and is not licensed, regulated, or supervised by the Reserve Bank of India.
- Deposits accepted by the Company are unsecured and are not covered by any deposit insurance scheme (such as DICGC), unlike deposits with banks.
- The Company accepts deposits from, and grants loans only to, its Members — it does not conduct deposit or lending business with the general public or with any body corporate.
- As a Nidhi, the Company does not offer current accounts, cheque books, debit/credit cards, chit fund, hire-purchase, leasing, or insurance business, and does not pledge members' assets as security.
- Loans are extended to members only against approved security — gold/jewellery, immovable property, or fixed deposits/NSC/insurance policies — subject to the loan limits prescribed under the Nidhi Rules.
- The Company does not solicit deposits from the public through advertisements, and does not pay brokerage or incentive for mobilising deposits, in accordance with Rule 6 of the Nidhi Rules, 2014.
Schemes, for Members only
Every facility below requires an active membership and completed KYC.
Fixed Deposit
6–60 month tenure, with cumulative, monthly or quarterly payout and nominee facility.
- Interest slabs as approved by the Board
- Premature closure as per policy
- Provisional receipt issued instantly
Recurring Deposit
Build savings through fixed monthly instalments, with auto-debit and flexible tenure.
- Minimum monthly instalment as prescribed
- Tenure from 6 to 60 months
Member deposit account
A savings-style deposit account for Members, with statements and transfer requests. This is a Nidhi deposit facility, not a bank savings account.
- Digital onboarding with KYC
- Withdrawal and transfer requests online
Secured loans, for Members only
In line with the Nidhi Rules, every loan is extended only to Members and must be backed by approved security. Loan amounts are subject to the ceilings and margin requirements prescribed under the Nidhi Rules, linked to the Company's total deposits.
Loan against gold
Secured against gold or jewellery, with transparent, Board-approved valuation.
Loan against property
Secured against immovable property, subject to margin and documentation requirements.
Loan against deposit
Borrow against your own Fixed Deposit, NSC, or insurance policy held with the Company.
Becoming a member
As a Nidhi, the Company can only deal with its Members. Opening a deposit account or applying for a loan starts here.
Who can join
- Subscribe to the minimum equity shares prescribed in the Company's Articles of Association
- Complete KYC — identity and address proof — as per Company policy
- Be at least 18 years of age and of sound mind
Member rights & responsibilities
- Vote at General Meetings in proportion to shareholding, as per the Articles
- Access the Company's Annual Return and audited financial statements on request
- Raise grievances through the Company's Grievance Redressal mechanism
Why members choose BOFL
Figures shown are indicative and subject to the Company's statutory audited financial statements and Annual Return filed with the Ministry of Corporate Affairs. Please verify current figures before relying on them.
EMI calculator
Estimate an indicative monthly instalment for a secured loan.
Indicative only. Actual tenure, rate and eligibility depend on final sanction, security offered and the loan limits prescribed under the Nidhi Rules.