Terms & Conditions
Welcome to the official website of MALAKAR URBAN NIDHI LIMITED (“Company”, “We”, “Us”, “Our”). By accessing or using our website, mobile application, or services, you (“User”, “Member”, “Customer”) agree to be bound by the following Terms & Conditions.
If you do not agree with these Terms, you must discontinue using our website and services.
1. Membership Eligibility
- Only individuals who qualify under the Nidhi Company Rules and the Companies Act, 2013 are eligible to be members.
- Users must provide accurate KYC details including Aadhaar, PAN, and other required documents.
- The company reserves the right to approve or reject membership applications at its discretion.
2. Use of Website
The website may only be used for lawful purposes and in compliance with these terms.
- Users must not attempt to access unauthorized areas of the site.
- Users must not upload malware or harmful content.
- Users must not misuse information or violate security protocols.
The company may restrict or terminate access without prior notice if misuse is detected.
3. Products & Services
MALAKAR URBAN NIDHI LIMITED offers financial services to its members, including:
- Savings Account
- Fixed Deposit (FD)
- Recurring Deposit (RD)
- Loan Facilities (subject to eligibility)
All services are governed strictly by the Nidhi Rules, 2014 and internal policies.
4. Deposits (FD/RD/Savings)
- Deposits are accepted only from registered members.
- Interest rates, maturity periods, withdrawal rules, and penalties follow the company's approved policy.
- Premature withdrawal may attract penal deductions as per Nidhi guidelines.
5. Loan Services
- Loans are provided only to members based on eligibility, documentation, and internal assessments.
- EMI payments, processing fees, and interest once paid are non-refundable.
- Loan approval or rejection is solely at the discretion of the company.
6. Payment Terms
- All payments made through the website must be genuine and via approved payment channels.
- Duplicate or failed transactions will be refunded as per our Refund & Cancellation Policy.
- Members are responsible for maintaining the confidentiality of their banking and login details.
7. Accuracy of Information
- Users agree to provide true, accurate, and updated information.
- The company is not responsible for issues arising due to incorrect or incomplete data provided by the user.
8. Privacy & Data Protection
- All collected data is handled as per our Privacy Policy.
- Personal and financial data will not be sold to third parties but may be shared with regulatory authorities when required.
9. Third-Party Links
- The website may contain links to external websites for convenience.
- The company is not responsible for the content, security, or privacy practices of third-party sites.
10. Limitation of Liability
- The company is not liable for website downtime, technical errors, losses due to user mistakes, or unauthorized access due to user negligence.
- Financial decisions made by users based on website content are at their own risk.
11. Prohibited Activities
- False registration or impersonation
- Attempting to hack or slow down the website
- Misusing financial services
- Violating RBI/MCA/Nidhi guidelines
Any violation may result in account termination and legal action.
12. Intellectual Property Rights
- All content, logos, text, graphics, and data on the website are the property of the company.
- Unauthorized copying, distribution, or reproduction is prohibited.
13. Modification of Terms
MALAKAR URBAN NIDHI LIMITED reserves the right to modify these Terms & Conditions at any time. Updates will be posted on the website with the effective date.
14. Governing Law
These Terms & Conditions are governed by the laws of India.
15. Contact Information
Company : MALAKAR URBAN NIDHI LIMITED
Registered Address: S/O ASHOK MALAKAR,C/O KRISHNA MALAKAR,SAHID COLONY,BHAKTINAGAR,NEAR N J 14.20 JALPAIHURI WESTBENGAL 734007
Email:krishnamalakar34@gmail.com
Phone: 8597230571