Saving AccountWhy take 4? 6 is more

Saving money habit will improve the quality of life and will help you to feel better and to sleep better. One will be happier knowing he/she has some money aside for unexpected expenses and look forward to achieve some of their dreams. SHUMANGALAM NIDHI LIMITED has introduced uniquely designed “Saving Account” to inbuilt the habit of saving among its members.

SHUMANGALAM NIDHI LIMITED Offering Saving Account to its members with following attractive features:

    Earn up to 6% p.a. from your Saving Account with us.

    Truly Zero Balance Saving Account.

    No Min AMB (Average Monthly Balance) Required, No Annual Fees for Maintenance.

    Tenure:Minimum amount of deposit for opening a Saving Account with us is Rs. 1000 only.

    Passbook and Monthly Account Statements will be provided.

    The money can be withdrawn and deposited by using Withdrawal/Deposit slip in the concerned branch(es).

    NEFT/IMPS Transfers’ facility will also be provided for ease of transacting.

    Use SHUMANGALAM NIDHI LIMITED’s Internet Banking and do Recharge & Utility Bill Payments at your fingertips.

    Nomination Facility available for Deposits.

    To enable the depositor(s) to earn high rate of Interest below are the slabs for Interest Rates provided:

Average Monthly Balance Maintained Annual Interest Rate Applicable
Less than Rs. 10,000/- @5% p.a.
10,000 and above @6% p.a.


    It is mandatory to become a member in SHUMANGALAM NIDHI LTD to open a Saving Account.

    Saving Account is of continuing nature. There is no maximum period.

     SHUMANGALAM NIDHI LTD will issue One share having Nominal value of Rs. 10/- for Saving Account.

    It is Mandatory to complete the KYC Norms.

    Loan will not be provided against the balance kept in SHUMANGALAM NIDHI LTD Saving Account.

    Interest amount subject to TDS as per provisions of Sec 194A of the Income Tax Act 1961.

    Rate of Interest for Senior Citizen/Armed forces/Women shall be 0.25% higher than normal prevailing interest rate on Saving Account.

     SHUMANGALAM NIDHI LTD reserves the right to alter or add to these rules at any time without any notice.

For more details approach your nearest SHUMANGALAM NIDHI LTD’s branch.

Features of Saving Account

Main Features Saving Account
Minimum Deposit Rs 1000/- only
Nomination Facility
Attractive Rate of Interest 5  to 6.00%
Online Transaction &SMS Facility


Salient Features

  1. Nomination Facility available for deposits.
  2. There can be only one Nominee for a deposit account whether held singly or jointly.
  3. A person legally empowered to operate a minor’s account can file a nomination on behalf of the minor.
  4. Applicants can make nomination by filling up the prescribed form.
  5. The nomination details can be changed during the subsistence of the account relationship by filling up prescribed form.
  6. For more details approach your branch.

Documentation Required For Account Opening

Identity Proof Address Proof
Passport, Aadhaar Card Passport, Aadhaar Card
PAN Card Telephone Bill
Voter ID Card Electricity Bill
Driving License Bank Statement with Cheque
Government ID Card Certificate/ ID card issued by Post Office
Photo Ration Card
Senior Citizen ID Card



  1. It is mandatory to be a member in the company.
  2. Company will issue 1 share (10/- Rs) for Saving A/c.
  3. Please produce the original document(s) for verification & photocopy of each document.
  4. Mandatory to provide Permanent address and telephone number.
  5. Please available of the nomination facility.
  6. Mandatory to complete the KYC Norms.

* Terms & Conditions apply and all deposit plan only for member/ shareholders.

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