The tenure of the account is 12 months and above. The habit of saving money 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 in achieving some of their dreams. BFT Mutual Nidhi Limited has introduced uniquely designed “Savings Account” to inbuilt the habit of savings among people.
All payments to the company shall be made either in cash or by cheque/draft against the receipt countersigned by its authorized signatory, payments by any mode or media other than mentioned above shall be at the member account holder’s own risk. The cheque/draft shall be credited in the name of member Account Holder subject to clearance by the bank. Outstation cheques shall not be accepted.
A passbook will be issued to every Member Account Holder. The Member Account Holder shall get the pass book updated at regular intervals. If any discrepancy or difference in the amount is found between the entries made in the passbook and receipts duly countersigned by the authorized signatory of the branch office bearing seal. Payment shall be made on the basis of receipts only.