A Fixed Deposit (FD) is a financial instrument provided by WEMS FINANCE NIDHI LIMITED to its members, which provides members a with higher rate of interest than a regular savings account, until the given maturity date. For a fixed deposit is that the money cannot be withdrawn from the FD as compared to a recurring Deposit or a demand deposit before maturity. WEMS FINANCE NIDHI LIMITED offer additional services to FD holders such as loans against FD certificates at competitive interest rates.
WEMS Fixed Deposit Schemes-A
| Scheme Code | Tenure | Quarterly Interest Compounded | FD Amount | Maturity Amount | Royalties & Maturity Bonus |
| FD_12 Month | 12 Months | 8.50% | 100,000 | 108774.8 | As Per Company business Performance |
| FD_24 Month | 24 Months | 8.50% | 100,000 | 118319.56 | As Per Company business Performance |
| FD_36 Month | 36 Months | 8.50% | 100,000 | 128930.22 | As Per Company business Performance |
| FD_48 Month | 48 Months | 8.50% | 100,000 | 139995.18 | As Per Company business Performance |
| FD_60 Month | 60 Months | 8.50% | 100,000 | 152279.47 | As Per Company business Performance |
WEMS Fixed Deposit Schemes-B
| Scheme Code | Tenure | Quarterly Interest Compounded | FD Amount | Maturity Amount | Royalties & Maturity Bonus |
| FD_12 Month | 12 Months | 8.50% | 500,000/- | 543873.98 | As Per Company business Performance |
| FD_24 Month | 24 Months | 8.50% | 500,000/- | 591597.82 | As Per Company business Performance |
| FD_36 Month | 36 Months | 8.50% | 500,000/- | 643509.32 | As Per Company business Performance |
| FD_48 Month | 48 Months | 8.50% | 500,000/- | 699975.95 | As Per Company business Performance |
| FD_60 Month | 60 Months | 8.50% | 500,000/- | 761397.41 | As Per Company business Performance |
WEMS Fixed Deposit Schemes-C
| Scheme Code | Tenure | Quarterly Interest Compounded | FD Amount | Maturity Amount | Royalties & Maturity Bonus |
| FD_12 Month | 12 Months | 8.50% | 10,00,000/- | 1087747.96 | As Per Company business Performance |
| FD_24 Month | 24 Months | 8.50% | 10,00,000/- | 1183195.62 | As Per Company business Performance |
| FD_36 Month | 36 Months | 8.50% | 10,00,000/- | 1287018.62 | As Per Company business Performance |
| FD_48 Month | 48 Months | 8.50% | 10,00,000/- | 1399951.89 | As Per Company business Performance |
| FD_60 Month | 60 Months | 8.50% | 10,00,000/- | 1522794.81 | As Per Company business Performance |
Terms & Conditions:
- It is mandatory to be a member in the Company.
- Company will issue shares worth Rs.100/- to FD account holder.
- Minimum FD would be of Rs.1000.
- Interest calculated quarterly compounded.
- Applicable TDS to be deducted on Interest as per the provisions of Income Tax Act.
- Loan available against deposit up to 75% of deposit amount after 1 from the date of deposit.
- In case of death of a depositor,the Company will repay to nominee or beneficiary the principal & interest, at which it was accepted.