Question 1

Why Equals Fixed Deposit

Accepted Answer

If you’re looking for a safe investment option to boost your savings and get assured returns, investing in a Fixed Deposit is a great choice. The convenience of investing along with the safety of your deposit can help you plan your short-term and long-term goals easily.
 
At Equals Nidhi Limited, you get attractive FD interest rates of upto 11.50%.
*( 8% on Minimum Amount of Rs. 30,000/- Investment and 11.50% on Investment of Rs.50,000/- and Above). both scenerio includes PROINDEM coverages of Rs.25 Lakhs.
So you can save for your goals easily with securing your profession. Investing in a Equals Nidhi Fixed Deposit is simple, with an online investment process that enables existing customers to invest from the convenience of their home.
 
It’s mandatory to become member of Equals Nidhi Limited by purchasing minimum 10 share of face value Rs.10/- each.
 
Required KYC Documents:
Latest photograph
2. PAN card
3. Any one of the below:
a. Aadhar Card
b. Passport
c. Driving License
d. Job card issued by NREGA
e. Voter ID card
4. Copy of Clinic/Hospital Registration Proof.
5. Copy of Degree Certificate.
The following additional documents need to be submitted along with application form:
Account Payee Cheque for Amount deposit.

Question 2

Medico-Legal Membership Coverage Highlights by PROINDEM.

Accepted Answer

Medico-Legal Membership coverage of Rs. 25Lakhs.(Professional Indemnity and Error & Omission Insurance with cashless Medico-Legal Services)
 • Covers legal costs and expenses incurred in your defense, as well as any damages or costs that may be awarded, if you are alleged to have provided inadequate advice, services or treatment given that cause your client to lose life, to suffer with body disability, money or suffer side effects.
 •  To Manage Clinics and Hospital documents and records as per Medical and Legal standards set by government and get audited time to time. (OPD case paper, Indoor case paper, operative paper, Consent papers and all certificates etc.)
 •  Medico-Legal Consultation with statement making in MLC cases.
 • To give professional council/reply to notices served from medical council/institution or governmental agencies.
 •  Covers all Labor, Organ Transplant Act, PNDT, MTP, Blood Bank, Eye Bank Labor Act etc…
 •  Coverage for all cases related to Medical Negligence (Civil, Consumer, Criminal, MCI) from Apex   court to supreme court.
 •  Covers Legal issues of Death in Operation Theater.
 •  Any Negligence caused by skilled unskilled hospital staff.
 •  Coverage for all TPA, Pollution and Municipal related matter.
 •  Security from fake Medicine companies.
 •  Also covers cases related to Personal, Land & Property, Society defamation.
All with written Commitment.

Question 3

Fixed Deposit Features

Accepted Answer

Features and Benefits of Equals Nidhi Fixed Deposit:
 
Free Medico-Legal Membership by PROINDEM (coverage of Rs.25Lakhs).
 
Upto 11.50% Return on Fixed Deposit
Equals Nidhi Fixed Deposit offers a lucrative interest rate of  8% on Minimum Amount of Rs. 30,000/- Investment and 11.50% on Investment of Rs.50,000/- and Above for lock-in period of minimum 12 months. Investing in this FD can help you accumulate your wealth and grow your corpus, with assured returns and safety of your profession.
 
Flexible Tenors
When investing in a Equals Nidhi Fixed Deposit, you can choose the tenor between 12 and 60 months, to suit your financial needs. This can help you with your liquidity needs, and you can ladder your investments to enjoy a higher cash inflow.
 
Minimum deposit of Rs.30,000/-
The minimum deposit required to invest in a Equals Nidhi Fixed Deposit is Rs. 30,000/- which makes it easier to invest. With this minimum deposit amount, you can start investing any time, without having to wait to accumulate a larger corpus. Even with a smaller minimum deposit amount, you can ladder your investments, and earn better returns.
 
Online Loan against Fixed Deposit
In case of emergencies, you can withdraw prematurely from the fixed deposit, post the initial lock-in period of 12 months. However, in order to avoid loss of interest, you can choose to avail a Loan against Fixed Deposit, where you can take an easy loan. However, the amount of your Loan against FD cannot be more than 75% of FD value.
 
Invest using debit card/credit card
Invest in FDs using debit/credit cards (available in select locations only).
 
Auto renewal
When filling your FD application form, you can choose to auto-renew your FD and save the hassle of filling in the renewal form again during maturity.
 
Multi deposit facility
When filling your FD application form, you can also choose to invest in multiple deposits through a single cheque payment. Opt for different tenors and interest payment frequencies for each of these deposits. In case you need urgent cash, you can prematurely withdraw from a single deposit, without having to break all other deposits.

Question 4

FAQs on Fixed Deposit

Accepted Answer

What is Cumulative FD vs Non-cumulative FD?
Choose from Cumulative FDs (where interest is payable at the time of maturity) or Non-cumulative FDs (where interest may be payable at monthly, quarterly, half-yearly or annual basis).
 
How much interest will I get in 5 years?
If you invest in a Equals Nidhi Fixed Deposit for 5 years, you can grow your savings by more than 72% and senior citizens can grow their investment amount by ~76%.
Equals Nidhi Fixed Deposit offers attractive 5-year FD interest rates, so you can grow your savings easily.
 
Can I get monthly interest on Fixed Deposit?
Yes. You can always choose the option for periodic interest payouts, and opt for monthly interest on your Fixed Deposit.
 
Is interest on FD taxable?
Yes. The interest on Fixed Deposit is fully taxable. The income you earn, is added to your total income and taxed at slab rates, applicable to your total income. It is then, shown under ‘Income from Other Sources’ in your Income Tax Return. In addition to Income Tax, banks and companies also deduct TDS on your interest income.
 
How to Choose Best FD Rates Scheme?
It is important to choose the right scheme for best Fixed Deposit rates, based on your requirement. You have the options to get your interest at the end of your maturity period, or opt for periodic payout options. In case you’d like to tend to your regular expenses, you can choose the option of periodic payouts, but if you’d like a lump sum amount at the end of your tenor, you can choose to get your interest at the end of your tenor. Some investors also consider the current FD rates, when planning to invest. While this may be a great way to grow your savings.
 
Is FD A Good Investment?
Investing in Fixed Deposit is best for risk-averse investors seeking a stable investment avenue to grow their savings. You can benefit from one of the best FD rates, flexible tenors, and choose periodic payout options. FDs are one of the best low-risk investment options that can help you increase your savings easily. You can get guaranteed returns, without any effect of market fluctuations.
 
What Is the Minimum And Maximum tenor For FD?
You can choose your tenor, when you invest in Equals Nidhi Fixed Deposits. You can choose a tenor between 12 and 60 months, and in case you choose to get periodic payouts, you can also choose the frequency of your periodic payouts.

Question 5

FAQs on PROINDEM Membership or Coverage

Accepted Answer

What if I Break /Withdraw my Fixed Deposit Amount will my PROINDEM membership be still effective?
PROINDEM membership is valid up to Tenure of your Fixed Deposit once you withdraw your Fixed Deposit PROINDEM Free Membership Ends.
Who will provide Medico-Legal Service?
PROINDEM will provide All Medico-Legal Services. Once you become member of PROINDEM you are provided with Separate Legal Manager who looks after all your legal issues and act as Single point of contact between you, PROINDEM, Medico-Legal Experts, Advocates, Opposition Party etc…
What if I am unhappy with PROINDEM service?
We make sure that you get 100% satisfaction though you feel that you are not getting up-to date service kindly contact us and we will resolve your issue with PROINDEM within same day.
Who pays for my Legal and Compensation expenses?
PROINDEM covers you under Professional Indemnity and Error and Omission Insurance Policy provided by insurance companies. PROINDEM pays for your Legal and Compensation expenses in advance and then Claim that amount from Insurance Company.
How Private is my Personal & Professional Legal issues?
PROINDEM never use your Personal & Professional Legal issues/Cases in its Marketing or for acquiring new clients. Also Membership Agreement includes Non-Disclosure Agreement.
Can I apply for Loan from Equals Nidhi Limited?
Yes, Once you Invest in Fixed Deposit also you become Equals member & Shareholder. And so as a member you can avail Loan facility by Equals Nidhi Limited.
for more information about PROINDEM visit on www.proindem.org(https://www.proindem.org/)

Question 6

Fixed Deposit Interest and Income Tax

Accepted Answer

The income you earn on your FD is termed as Income from Other Source and it is fully taxable.
TDS will not deduct, if your interest income from fixed deposits is less than Rs.40,000 in a year.
You need to submit Form 15G and Form 15H with the bank at the beginning of the financial year. Banks will not deduct TDS following the form submission.
Under tax saver FDs, the maximum exemption you can get is Rs.1.5 lakh.
The tax benefit is offered under Section 80C of the Income Tax Act, 1961.

EQUALS

IFSC CODE: YESB0CMSNOC

An Investment to secure your Money and Profession.

One of kind investment plan for doctors providing higher rate of interest with professional indemnity & error and omission coverage.

For More information on Medico-Legal service visit website: www.proindem.org

EQUALS

An Investment to secure your Money and Profession.

One of kind investment plan for doctors providing higher rate of interest with professional indemnity & error and omission coverage.

For More information on Medico-Legal service visit website: www.proindem.org

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