Did you know that under section 406 of the Companies Act, 2013, Nidhi companies are pretty much legal in India and are out there doing their good work? But what do they even do? Well, these companies are there to provide financial services to people who are left out by the traditional banks for some reason. All in all, Nidhi companies are more like traditional banks, but they work on a much smaller scale. And if you are already intrigued about these companies, and want to know which are the top ones in the country. Well, keep on reading because we are here just to talk about the top 10 leading Nidhi companies in India as of 2024. Alright, here we go now.
1. Maben Nidhi Limited
Established way back in 1993, Maben Nidhi Limited has grown into an important player in India’s financial sector as just a Nidhi company. The Government of India has formally recognized Maben Nidhi Limited as a Nidhi Company, as it was registered under section 620A of the Indian Companies Act of 1956, did you already know that? And as you can already guess, Maben is an organization with 64 branches whose primary goal is to encourage members to save money. The firm is well-known for its safe and customer-focused financial services, which include gold loans, property loans, and other deposit schemes. An important indicator of Maben Nidhi Limited’s compliance with regulations is the fact that it has the NDH 4 approval from the Ministry of Corporate Affairs.
- Address: FIRST FLOOR, PADMA JUNCTION, NEAR GEERI PAI JEWELLERY,MG ROAD OPP METRO PILLER NO 666, COCHIN, Kerala 682035
2. KPB Nidhi Limited
With a long history dating back to 1989, KPB Nidhi Limited is known for its dependable services and wide network of contacts, that’s why we have listed it 2nd on this list today. This Kerala-based organization has grown to over 83 locations around the country, demonstrating its dedication to providing members with financial assistance. KPB Nidhi Limited caters to middle-class and lower-class individuals by providing them with individualized banking products and services like savings programs, loans, and fixed deposits.
- Address: Kallarkutty Dam Rd, above Kannattu Super Market, Adimali, Kerala 685561
3. Jayant India Nidhi Limited
On the third spot of this list, with approximately twenty-one branches and five thousand customers across the country, Jayant India Nidhi Limited is one of the best non-banking financial institutions in the country. Why and how? Well, Jayant India follows the regulations set down by the Ministry of Corporate Affairs to the letter, and the company is well-known for its customer-centric approach and affordable interest rates. All in all, offering honest and dependable financial aid, the firm caters to the middle class and lower middle class with a variety of deposit plans and loan options.
- Address: SCO-88, 2nd Floor, Opp. BSNL, Old Delhi Gurgaon Rd, Sector 12A, Gurugram, Haryana 122001
4. Adambakkam Janopakara Saswatha Nidhi Limited (AJS)
Adambakkam Janopakara Saswatha Nidhi Limited or AJS for short, is one of the earliest Nidhi firms in India, having been founded in 1931. Yes, they are just a few more years short of hitting the 100-year mark in this particular financial sector. Because of its lengthy history of providing financial services to the ones who are left out, AJS focuses on helping those with middle-class and lower-class incomes. Loans for home improvements, school costs, and unexpected situations are offered by this dependable company with affordable interest rates.
- Address: 107, Pudupet St, Ramapuram, Alandur, Chennai, Tamil Nadu 600016
5. Jbsublet India Nidhi Limited
On this list today, Jbsublet India Nidhi Limited is by far the newest company, but still, are on the list even though it was founded just a few years ago, in 2018 to be precise. And look at it now, they are on the list of the top 10 leading Nidhi companies in the country as of 2024, isn’t that something? And of course, their solid financial strategies and rigorous adherence to MCA requirements have helped it earn trust, despite its smaller size.
- Address: 12, C Scheme, Ashok Nagar, Jaipur, Rajasthan 302001
6. Mahamudra Global Nidhi Limited
Coming in at number six is Mahamudra Global Nidhi Limited, an Indian company that was established under the Companies Act of 2013, and has established itself as a pillar for India’s middle class. Yes, that sounds cliche, but that’s what they do after all. Mortgage loans, gold loans, and a variety of deposit schemes (savings, recurring, and term deposits) are just a few of the many financial services offered by this well-known Nidhi company in the country.
- Address: TOWERS,PLOT NO.A, UNIT NO. 503, 5th FLOOR GDITL NORTH Ex, 09, Netaji Subhash Place, Pitampura, Delhi, 110034
7. Samartha Nidhi Limited
Then there is this Karnataka-based company named Samartha Nidhi Limited is notable for its commitment to helping people and small company owners who are experiencing financial difficulties. Again, just like other companies on this list, this organization also is out there to promote financial inclusion by providing a range of deposit schemes, such as Pigmy Deposit, Recurring Deposit, and Fixed Deposit, in addition to several loan choices.
- Address: 1st Floor, Samartha Nidhi Limited, Pinto Plaza, APMC ROAD, opp. Adarsha Hospital, Puttur, Karnataka 574201
8. People’s Urban Nidhi Limited
Do you know how hard it is for people who have a bad credit history to enjoy basic financial services? Well, that’s where companies like People’s Urban Nidhi Limited are super important. They play a super important role, you know, to provide banking services to individuals who do not have a credit history and find it difficult to use conventional banks. Simply put, the goal of People’s Urban Nidhi Limited is to help the economically disadvantaged by providing them with services and resources.
- Address: First Floor, Kurambil George Towers, Kayamkulam – Pathanapuram Rd, opp. SM Silks, Parass La, Adoor, Kerala 691523
9. Thrissur Nidhi Limited
Reliable financial services and outstanding customer satisfaction have made Thrissur Nidhi Limited famous, super famous in Southern India, to be precise. The company’s customer base has grown since its start, and it has completed over 150 loans. Loans and other deposit programs are only a few of the financial services offered by Thrissur Nidhi Limited, which lets its members take charge of their money, we are talking about true control here.
- Address: Room No: TC-21/5821, Ground Floor, Aman Towers West Fort, Near Kotak Mahandra Bank, MG Road, Kottappuram, Kerala 680667
10. Reeti India Nidhi Limited
Last on the list, let’s talk about one more company, and this is none other than Reeti India Nidhi Limited. Offering loans of up to 8 lakh rupees, the organization is committed to providing inexpensive and accessible financial solutions, well, to its members only. That’s the only catch. Regulatory compliance and customer satisfaction are their top priorities, so you can be sure that their operations are secure and reliable.
- Address: 8VCX+9VF, Bankat, Uttar Pradesh 221107
Conclusion
That’s all there is for now. Sure, there are dozens of more Nidhi companies in India that can be found in pretty much every corner of the country, but these are the top and biggest ones in the country as of 2024.
