Minimum amount of deposit for opening a Savings Deposit account is Rs. 100. The money can be withdrawn by using withdrawal slip in the concerned branches. Savings account is of continuing nature. There is no maximum period. A minimum amount of Rs. 100/- has to be kept on savings account. No loan facility is provided against savings account. Enable the depositor to earn high rate of Interest @ 6.00% per annum based on daily minimum balance.

• Minimum deposit : INR 100
• Attractive interest rate ranging from 5% to 6%
• Quarterly interest payout based on average quarterly balance
• Unlimited free cash withdrawal and balance enquiries during banking hours
• No charges will be levied for non-operation/ activation of in- operative/ dormant a/c's
• Free passbook facility for all individual account holders

Members can choose from a wide range of deposit products with maturities ranging from 06 to 60 months at competitive rates of interest and with different features to suit the investment needs of individual members. Members can keep nominees for deposits. There can be only one Nominee for a deposit account whether held singly or jointly. Applicants can make nomination by filling up the prescribed form, which can also be changed during the subsistence of the account relationship by filling up another prescribed form.

Novac Nidhi Mortgage Loan (Loan Against Property) is a loan availed against mortgage of property (Residential / Commercial / Land). As a secured product, the interest rate on loan against property is low & is available for long tenures. Mortgage loan is available to individuals and business persons. 

With two simple steps for getting loan against properties - the applicant & their business / earning is evaluated, followed by valuation of the property offered as collateral and immediate sanctioning.

The loan amount is secured against the property being mortgaged, resulting in higher amount. Such Loans offer several benefits in the form of lower interest rate, higher loan amount, long tenure, in comparison to unsecured loans such as a personal loan.

Eligible Property Types for Loan Against Property - Novac Nidhi offers the flexibility to use almost any property type for taking such loans, Commercial or Residential or Mixed-Use Properties - Land, Building, Apartment, Commercial Premise, Shop, Factory, etc.  

With attractive schemes, easy repayment options and lowest interest rates we provide you liquidity for your gold and gold ornaments without having to sell them.

• Avail maximum value for your gold, upto 80% of the value.
• Competitive interest rate; Interest starting @ just 6% per annum . Special schemes including business loan,
  hi‐tech farming loan.
• Flexible repayment including interest servicing schemes and EMI schemes of flexible tenure.
• Minimal documentation and quick disbursal
• Special schemes including high loan-to value (LTV) business loan, Hi-Tech farming loan.
• Maximum tenure of one year.