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 — such as 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 any brokerage or incentive for mobilising deposits, in accordance with Rule 6 of the Nidhi Rules, 2014.
Our Schemes (For Members Only)
Fixed Deposit (FD)
6–60 month tenure · Cumulative / Monthly / Quarterly payout · Nominee facility.
- Interest slabs as approved by the Board
- Premature closure as per policy
- Instant provisional receipt
Recurring Deposit (RD)
Build savings monthly with flexible tenures and auto-debit options.
- Minimum monthly instalment as prescribed
- Tenure 6–60 months
Member Deposit Account
A savings-style deposit account for Members, with statements, alerts and transfer requests. This is a Nidhi deposit facility, not a bank savings account.
- Digital onboarding (KYC)
- Fund transfer / withdrawal requests
Loans (Secured, For Members Only)
In line with the Nidhi Rules, all loans are extended only to Members and must be secured — for example against gold/jewellery, immovable property, or fixed deposits/NSC/insurance policies. 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
Secure funding against gold with transparent, board-approved valuation norms.
Loan Against Property
Loans secured against immovable property, subject to margin and documentation requirements.
Loan Against Deposit
Avail a loan against your own Fixed Deposit / NSC / insurance policy held with the Company.
Becoming a Member
Who Can Join
As a Nidhi, the Company can only deal with its Members. Any individual wishing to open a deposit account or apply for a loan must first become a Member.
- Subscribe to the minimum number of 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
- Right to vote at General Meetings in proportion to shareholding, as per the Articles
- Access to the Company's Annual Return and audited financial statements on request
- Right to raise grievances through the Company's Grievance Redressal mechanism
Why 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 (MCA). Please verify current figures before relying on them.
EMI Calculator
This calculator is indicative only. Actual loan tenure, rate and eligibility depend on final sanction, security offered and the loan limits prescribed under the Nidhi Rules.