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        Companies Law

        Rule 16 - Rate of interest

        Nidhi Rules, 2014
        Chapter 01

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        Rate of interest: lending margin limited over highest deposit rate; uniform rates for same loan class and publicly displayed. Rule 16 limits a Nidhi's loan interest to not exceed seven and a half percent above the highest deposit rate offered, requires calculation on the reducing balance method, mandates the same rate for all borrowers within the same loan class, and requires prominent display of all loan class rates at the registered office and each branch.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.

                                Rate of interest: lending margin limited over highest deposit rate; uniform rates for same loan class and publicly displayed.

                                Rule 16 limits a Nidhi's loan interest to not exceed seven and a half percent above the highest deposit rate offered, requires calculation on the reducing balance method, mandates the same rate for all borrowers within the same loan class, and requires prominent display of all loan class rates at the registered office and each branch.


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