MEMBERSHIP TERMS &CONDITIONS APPLIED
1. The Member IDNumber is not transferrable or assignable.
2. The companywill be at the discretion to suspend, cancel or terminate acting contrary to the aims and object ofthe company.
3. All payments for the products of the company should be Demand Draft (DD) o r Cash. All Demand Draft (DD) should be
in favour of Pa rama Nidhi Limited.
4. The company will not be responsible if the payments are made using a wrong name and an incorrect address or to any
person other than the company.
5. Member is allowed to display the na me, official Logo of the company, IDNo. gave by the co mpany on personalstationery
which will be used for the business purpose for printing his/her personal stationery (with prior permission) however the
business Associate shall not use the trademark.
6. Member aged 18 or above is only eligible to become Associa te in business plan promoted by the company.
7. All the guidance rules published by the company which will be published fromtime to time, shall always be binding on all
8. The company shall surely be the liberty to change, amend, add or de lete object offer ruler and guidelines without giving
any prior notice to all the members.
9. The member shall not indulge in any act which may cause harm or damage to the company and it’s objects, busine ss
promotion scheme, plan or any other activity.
10. Due to change any law or rules of local body, State or Central Government in fut ure, the c ompany shall be to liberty to
change the entire scheme and/or business plan either in whole or in part without any pr ior notice to the member .
11. The member within the four corners of rules, term s, conditions and guidelines shall take all positive steps to promote the
business plan and/or activity of the company and further provide supervis ion and training to the teamwhich shou ld include
ongoing contract, communication, encouragement and support.
12. Any member who will promote and sale the products of the company shall be entitled to receive the incentive from the
13. Any member cannot work simultaneously in the same field in other company and if found doing so, then his/her member ’s
code , all the facilities, payments and gifts will be cancelled without any notice.
14. In case of death of a member the lawful nominee will be the only one entitled to receive th e benefit s as enjoyed by the late
member and he/she will be bound by all the existing and future terms and conditions , rules and regulations and g uidelines
framed by the company.
15. Nominee of the deceased shall inform (i n writing) to the company about his/her interes t to continue with the company
failing which all his/her benefits will be froz en by the company.
16. In case of any disputes in interpretation of any terms and conditions or meeting of any rules , terms an d conditionsshall be
referred to the sole arbitration a ppoint ed by the compan y as per the provisions of arbitration act. The decision of the
arbitrator shall be final and binding on all parties.
17. Field allowances, development expen ses, com missions, incentives and all declared offers will be cancelled and unclai med
for you, if you are not fulfilling your target business. This is a contract ual agreement.
18. All disputes claim arbitration issubject to law&jurisdict ion of the Ranaghat Court only.
Account Opening Terms
Nomination & Survivorship facilit yAccount and the acc ount holders are advised to avail this facility for smooth settlement of claim by legal heirs in unforeseen circumstances.
Types of accounts balance stipulat ion charges.
The application can open account without cheque book. The minimum account balance prescribed for thes e account `1000.
How to open an account?
In ordinary course applicant( s) should attend the Parama Nidhi Ltd. Office personally for completion of formalities for opening the account. They will duly fill and sign the prescribed application fo rm. Applicant should
submit three copies of his /her/their recently taken passport size pho tographs. Account holder’s signature must be legible and we ll format. Signature should not be i n capital or block letters. Each account will be given a
distinctive account number . While dealing with the Parama Nidhi Ltd. , this number should be invariably quoted by the account holders. The account holder in their self -interest are expected to other to uniform signature
as per specimen recorded with the Parama Nidhi Ltd. While operating the account and addressing any correspondence to Parama Nidhi Ltd. Passbook
The passbook supplied to the account holder s hould be kept in safe place. Parama Nidhi Ltd. will not be responsible for any loss or incorrect payment attributable to the account holder ’s neglect in th e regard. For
withdrawing cash by means of withdrawi ng from, the passbook must be presented. Passbook should be update regularly . The passbook will be return to the account holder immedia tely after completion of the transaction
duly update s. In case is not collected with weeks’ time it will be return to the m by registered AD post/currier at their cost. The account holder should carefully examine the entries in their books & draw the Parama Nidhi
Ltd. attention to error or commission. Duplicate in lieu of the lost of mutilated passbook may be issued on receip t of a written request f rom the account holder after necessary enquir ies completion of formalities & recovery
of prescribed charges. Change in rules
Parama Nidhi Ltd. reserve the right to alter , delete or add to any of these rules, any service charges for which the customer will be duly m odified through Parama Nidhi Ltd. website/notice board.
Operation the account
General savings account is essentially a facility to build up savings & hence must be used as a c urrent account may close any reason to believe t hat the account holder has used his /her account for a purpose for which it
is not allowed.
There is no restriction on number of deposits that can be made into account no. deposit in case for less than `10 will be accepted. Third party instrument endor sed favour of account holde r will not be af forded. For
outstation instrument will be normally printed until these are reali zed. In satisfactory conducted accounts credit will be afforded for outst ation instruments deposits to `20,000.00 which may charge time to time. The
normal collection & out of pocket charges will be recovered. The current limit & charges prescribed for this re -available at the Parama Nidhi Ltd. This information can also be obtained from branches, counters & mobile
The account holder can withdraw money personally from his/her ordinary savings account by using serfs-standard withdrawal form. The passbook must a company the withdrawal form. The withdrawal form can be used
only for receiving payments by the account holder himself/ herself. The account holder cannot withdrawal an account less than `50. All withdrawal must be round rupees only. Third party payments through withdrawal
forms are not permitted. A letter of authority as per the prescribed format alongwith the passbook s hould be send to the office though an authorised representative to receive d payments in case of account holder is unable
to attend personally to withdraw . Prescribed for exceeding this limit are available at the websi te of Parama Nidhi Ltd. and/or also no able to put their signature or thumb impression for withdrawing cash by comp leting
the laid down formalities. Payment of interest at the prescribed rate will be calculated on a daily product basis & will be credited to the account half -yearly on 3 1
st March & 30
th September. Interest will be paid/work out
to be `1 or more and will be rounded off to the nearest rupee.
I agree to abide by all rules & guidelines and terms & conditions for RD/FD/MIS which has been w ritten in the investment scheme chart.
I/We and that all the particulars and information given in the application form true, correct and complete
and that they shall from the basis of any loan, Parama Nidhi Limited may decide to grant me/us.
I/We undertaking inform Parama Nidhi Limited regarding change in my/our occupation/employment/residential address and
to provide any other information that the Parama Nidhi Limited require.
I/We confirm that I/We do not avail any other credit-facilities with any bank/finance company other than mentioned above.
I/We confirm that if I/We avail any credit-facility from any bank/financial company in future, I/We furnish details to Parama
Nidhi Limited immediately. Funds will not be used speculative purpose, I/We confirm.
I/We also understand that the sanction of the loan is subject to execution of documents as per Parama Nidhi Limited requirements. I/We agree that Parama Nidhi Limited has to right to make any enquiries regarding me as that think fit.
In view of above it is requested that kindly sanction loan after due verification of me and my guarantor records by your verification officer (legal)/authorised officials.
Minimum loan amount will be `1000 and maximum `10,00,00,000 in case of personal loan & property loan etc.
Interest will be charged at rate of 4% to 36% p.a. (Flat).
Repayment of loan will be on monthly/weekly/daily instalment basis alongwith flat interest.
Tenure of loan repayment will be minimum one month and maximum twenty years.
Loan would provide to government employee working at all place in India.
Loan would provide Central/State Govt. department expect employee of few departments.
If the loss is repaid before the stipulated period the discount would be provided in interest.
File charge and expenditure regarding property verification, mortgage deed verification & registration, guarantee deed registration, guarantor verification, etc. will be borne by the applicant.
After considering all the facts and conditions of the loan application, applicant will be intimated in due course of time regarding after later of loan by the Parama Nidhi Limited.
After submitting all papers and completing all formalities as Parama Nidhi Limited's requirement by the applicant Parama
Nidhi Limited will disburse the loan after verification through cash, cheque or bank draft.
Agent's responsibility will be to work as a mediator till the loan is approved and collect all the papers related to loan, guarantor's papers etc. and submit the same to Parama Nidhi Limited. Moreover, the agent has no author for disbursing the loan to
If the applicant is unable to submit necessary spares (related to loan), guarantee bond (to be prepared by the guarantor) with
in the stipulated period of time, papers found false or incomplete, guarantor or guarantor's H.O.D./salary in-charge refuse the
official undertaking then Parama Nidhi Limited will assume that the applicant has failed to fulfil all formalities of Parama Nidhi
Limited. In this circumstances, Parama Nidhi Limited will have a total right to reject the loan case of this particular applicant.
In the event of rejected loan case, the applicant has no right to ask/claim for the refund of deposited processing fees etc.
(processing fees etc. are non-refundable to applicant).
I/We (applicant/s) have read the loan application form and understand each and every facts and conditions in my/our full
conscious, without any pressure and without taking any type of alcoholic/intoxicated. Hence, I/We do accept the written
conditions of application form as the application form carries only the primary conditions related to loan. So, any other conditions applicable related to loan after verification will be acceptable to me/us.
Processing fee will be accepted through cash or bank draft only.
Any disputes that will arise under the jurisdiction of Ranaghat civil court only.
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Our goal at Parama Nidhi Ltd. Loan Company is to provide access to personal loans and education loan, car loan. We are the loan provider, you can use our loan product.