Saving is Must Necessary for a Happy Life

Bright Future Plan (BFP)

A BFP is a financial instrument where an investor gives a certain sum of money to a bank or a financial institution (company) and the entity pays interest for the duration of the deposit. The rate of interest paid varies depending on the amount and tenure. Investor's, especially conservative investors, prefer to open BFP as it is a safe investment option and it can be opened easily and quickly.

1ST YEAR 2500.00 2500.00 2500.00 2500.00
2ND YEAR 2500.00 2500.00 2500.00 00
3RD YEAR 2500.00 2500.00 00 00
5TH YEAR 2500.00 27500.00
RETURN AFTER 5 YEAR 40000.00 AFTER 10 YEAR 80000.00

The reasons why BFP are an ideal form of investment are as follows:

  • Guaranteed returns: Unlike investment in the stock market or commodity market, fixed deposits are not a risky investment as they do not depend on fluctuating market rates. Investors can rest assured that his investments are safe and he will be getting back a guaranteed amount at the end of the tenure.
  • Insurance: 5 Lakh Accidental Insurance On each depositor.
  • Loan Facility : Loan facility is available on BFP account as follows-
    • After 1st Year customer can take Rs.10000-40000/- Loan
    • After 2nd Year customer can take Rs. 40000-80000/- Loan
    • After 3rd Year customer can take Rs. 80000- 1 Lakh/- Loan
    • After 4th Year customer can take up to Rs.1.5 Lakh/-Loan.


  • 1 Person can open only 1 A/c
  • Interest calculation yearly compound.
  • Loan available after depositing his 4th regular installment without guarantor & interest free.
  • The depositor is required to fill a form prescribed under the Banking Companies (Nomination Rules) 1856, compulsory for every member who deposits with PURVANCHAL MUTUAL BENEFIT NIDHI INDIA LIMITED and in cases where the nominee is a minor; a guardian should be competently appointed.
  • It will be necessary to deposit a minimum of three installments for regular account; late fine will have to be given for not depositing the installment within 15 days.
  • Under the 2014 Fund Rule 620-A Section-45 IA, IB, IC, the fund can operate only from its depositor for up to 5 years. It is illegal to open an account after 5 years. Therefore, the depositor has to get his account renewed after 5 years by having his KYC done.

Issue of Passbook:

A passbook will be issued to every Member Account Holder. The Member Account Holder shall get the passbook 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. Payments shall be made on the basis of receipts only.