Gandak Vinivesh Benefit Fund Nidhi Limited’s Monthly Income Fixed Deposits Schemes are the term deposits where the interest earned is credited directly back to the investor account per month. This type of investment vehicle is an ideal option for individuals who want to earn a regular fixed income on a monthly basis. The monthly income fixed deposits help in creating wealth and fetch higher interest than the savings account.

Scheme updated: 01.January.2022 to 31.March.2022

NON-CUMULATIVE SCHEME (ROI) PER 1,00,000/-

FD Schemes Period Rate of Interest (P.A) Monthly Payout Period Payout
Scheme 1 12 Months 10.50% 867.45 10,409.44
Scheme 2 24 Months 11.00% 908.39 21,801.36
Scheme 3 36 Months 11.25% 928.85 33,438.45
Scheme 4 48 Months 11.50% 949.29 45,566.08


Conditions of Monthly Income Scheme:

  1. Any deposit with Gandak Vinivesh Benefit Fund Nidhi Limited cannot be below Rs. 10,000/-
  2. A nomination is compulsory for every member who deposits with Gandak Vinivesh Benefit Fund Nidhi Limited and in cases where the nominee is a minor; a guardian should be competently appointed.
  3. TDS Deduction Forms 15 H for senior citizens, those who are 60 years or older; and Form 15G for everybody else is mandatory.
  4. The monthly interest for the deposit will be transferred to the savings account of the customer or member.
  5. An FD (Monthly Income Scheme) can be opened only for a single individual or joint account facility is available.
  6. A Minor cannot open FD (Monthly Income Scheme) Account.
  7. Cash will be accepted up to Rs. 20,000/- and above which all transactions will be carried out only through DD or Cheque.
  8. The maturity / Pre-closure amount will be paid through an a/c payee cheque.
  9. Loan facilities are available from the Fixed deposits made with Gandak Vinivesh Benefit Fund Nidhi Limited
  10. Loan eligibility – 75% of the deposit amount
  11. Interest Rate – Actual Interest rate of deposit + 2%.
  12. Loss of FD Receipt Rs. 260/- with an affidavit in Rs. 200 Stamp Paper.

Pre Closure Conditions: (Monthly Income Scheme)

  1. If the customer opting for pre-closure of the fixed deposit before expiry, the interest will be revised to the corresponding interest rate fixed for the period where the date of the pre-closure date falls. An additional 2% will be deducted from this rate as a penalty.