Non-Refundable: Entrance fees or processing fees paid at
the time of joining are non-refundable.
Share Withdrawal: If a member wishes to exit the Nidhi,
they may apply for the transfer or surrender of shares. The value will be
refunded as per the Articles of Association after adjusting any outstanding
dues.
B. Loan Foreclosure & Refunds
Excess Interest: If a member closes a loan before the
tenure ends, any excess interest calculated upfront will be adjusted or
refunded to the member’s savings account.
Processing Fees: Fees paid for loan processing or valuation
are non-refundable once the inspection or documentation has commenced.
C. Deposit Premature Withdrawal
Fixed or recurring deposits may be withdrawn prematurely after a lock-in
period of three months.
Penalty: A reduction in interest (usually 2%) will apply to
premature withdrawals as per Nidhi Rules.
