Arthvaya India Nidhi Fixed Deposit Schemes 2022
Arthvaya India Nidhi Limited is a mutual benefit company based out of Gaya, Bihar. It is a nonbanking financial company doing the business of lending and borrowing between its members or shareholders. Arthvaya India Nidhi offers FD interest rates up to 10.75% for senior Citizens above 50 years and women and 10.25% to regular investors. Should you invest in Arthvaya India Nidhi Fixed Deposits? What are the risk factors in such FD schemes? This post is based on request from Mr. Manoj on suggest a topic to review this FD scheme.
About Arthvaya India Nidhi Limited
Arthvaya India Nidhi Limited is a Mutual Benefit Company headquartered in Gaya, Bihar. It is a NBFC doing the business of lending and borrowing between its members or shareholders. The Ministry of Company Affairs & Reserve Bank of India (RBI) are empowered to issue directions to the company in matters relating to their deposit acceptance activities.
Features of Arthvaya India Nidhi Fixed Deposits
Arthvaya India offers savings account, recurring deposits, fixed deposit plan and monthly income plan options.
It offers these savings and fixed deposits to its members only.
Savings account interest rate is 5.25%.
It offers fixed deposits for tenure of 12 months to 60 months.
It offers FD interest rates between 9% to 10.25% for regular investors.
This FD scheme offers 0.5% higher interest rates for senior citizens above 50 years and women.
One can invest minimum of Rs 1,000 and in multiples of Rs 1,000 each.
FD investors can take loan with certain terms and conditions.
Arthvaya India Nidhi Fixed Deposit (FD) Interest rates
Here are the fixed deposit interest rates. Senior citizens and women would get 0.5% extra interest rates compared to below rates.
Can we avail loan on Arthvaya India Nidhi FD’s?
Yes, however with certain terms and conditions.
Within 24 months – No
> 24 months – Loan can be availed to the maximum of 50% of the FD value.
> 36 months – Loan can be availed for 100% of the FD value.
Can we do premature withdrawals in this FD?
Yes. One can do premature withdrawals from this FD with below T&C.
Within 24 months – No premature withdrawals allowed
> 24 months – Premature withdrawal allowed.
What is Arthvaya India Nidhi Monthly Income Plan?
Arthvaya Nidhi also offers monthly income scheme (MIS) where one can get monthly interest.
MIS scheme is offered for 2 years and 5 years tenure. Below are the interest rates + monthly payout.
Senior citizens above 50 years + women would get 0.5% special interest rates.
No loan can be availed in MIS scheme.
How to open Arthvaya Nidhi Fixed Deposit?
One can visit the link and request for a quote for the value of fixed deposit and company would provide the details on how to open FD scheme. Currently there is no facility to open FD scheme online.
Here are the contact details.
Head Office: North Church Road, Near Axis Bank Gandhi Maidan, PS Civil Lines, Gaya – 823001
Contact Number: 0631-2222095
Why to invest in Arthvaya Nidhi Fixed Deposits?
Here are key reasons to invest.
1) It offers high interest rates up to 10.25%. Currently banks or NBFC companies are offering low returns, hence such high interest rates FD schemes are attractive.
2) It offers flexible FD tenure i.e., 1 year to 5 years. Investors can choose the tenure of their choice.
3) It offers special interest rates of 0.5% for senior citizens above 50 years of age and for women.
Why NOT to invest in such FD schemes?
Here are some negative or hidden factors of this FD scheme
1) Arthvaya India Nidhi is formed under Nidhi company / mutual benefit company. One need to become member to invest in their FD schemes.
2) RBI indicates that certain provisions like acceptance of deposits are exempted mutual benefit companies / Nidhi companies. Such provisions make these FDs riskier.
3) Fixed Deposits offered by Nidhi companies are high risk. There is no guarantee on such FD. 100% of principal amount could be at risk.
4) Arthvaya India Nidhi FD credit rating is not available. In absence of FD rating, such FDs become more riskier as there is no 3rd party to review the company financial status (other than company auditors).
5) One cannot do premature withdrawals within 2 years of opening the FD scheme.
6) Investors who opted for monthly income scheme (MIS) cannot take loan in case of emergency.
Is it safe to invest in Arthvaya India Nidhi Fixed Deposits?
After getting tempted with high interest rates, you might be wondering whether, “is it safe to invest in Arthvaya Nidhi FD Scheme”.
This company is mutual benefit company / Nidhi company. There are certain exemptions which RBI allows for such companies including acceptance of fixed deposits. Such Nidhi companies offer fixed deposits to its members. However, these are 100% unsecured FDs. Means if company gets into financial crisis and gets closed for some reason, FD investors would be given normal preference in repayment of capital along with other creditors. It can take years to get FD money and you might not get full principal back also.
Should you invest in Arthvaya India Nidhi Fixed Deposits?
This Nidhi company offers attractive interest rates up to 10.25% for regular investors and up to 10.75% for women and senior citizens above 50 years. It also offers flexible tenure of 1 year to 5 years. Currently one need to “request for a quote” to open a FD scheme with them and there is no online system. There is no FD credit rating available for the company. These are unsecured fixed deposits and your principal amount could be at risk. Investors should consider all these risk factors before investing in such high risk fixed deposit schemes.
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