A Nidhi Firm, MSEYR is Unaffected by Volatility
Kochi: Elby Thomson, Managing Director of MSEYR Nidhi Ltd. sheds light on various investment strategies that differentiates the Nidhi company from non-banking and banking companies. Here are the excerpts from the interview.
Investing in financial instruments offered by Nidhi companies can insulate funds from volatility, assuring growth, says Elby Thomson, MD, MSEYR Nidhi
What is MSEYR’s investment philosophy to ensure maximum returns to the depositor?
Despite the unpredictable nature of the present economic situation, MSEYR manages to keep its investment portfolio very healthy. Through sustainable business initiatives MSEYR ensures our investors highest possible returns for their hard-earned savings, regardless of their volume. We offer our customers the best service and believe that satisfied customers are the foundation and capital of our business.
Nidhi companies are safer places for an investor because they have a very transparent operational system which functions under the close monitoring of the Union Finance Ministry. As MSEYR is a Nidhi company, the current financial situation, especially the high volatility, is not a challenging factor.
What is the minimum lock-in period of funds and what is the minimum amount of funds invested under the doubling scheme?
MSEYR offers three attractive investment plans – Fixed Deposit, Recurring Deposit and Savings Deposit. Savings deposit works the same way as in the case of a regular bank. The minimum deposit amount for recurring deposit is Rs. 100 and the minimum lock-in period is six months. For fixed deposits, MSEYR provides three options; monthly, yearly and doubling schemes. The minimum amount is Rs. 5000 while six months is the lock-in period, which is common to all the three schemes. However, MSEYR’s prime product is doubling scheme which is designed to double the investment in six years.
What is the USP of MSEYR Nidhi Ltd. when it comes to Fixed Deposit scheme?
Best interest rate which is higher than that offered by banks and NBFCs and timely service are our USP. The highly experienced and professional management team supported by a research team comprising experts from the banking and non-banking finance sectors ensures timely service, conducts regular financial reviews and maintains caution during intense market volatility.
What do you think is the best investment approach for young professionals in the long term?
A vast majority of people think that fixed deposits in banks, post offices or co-operative societies have a low risk of being overstated. But to a certain extent, these types of deposits depend on the profitability of the market which depends on the monetary policy of the government, share prices and the value of Non Performing Assets (NPA).
A large number of people harbour a wrong notion that banks and co-operative societies have government guarantees. However, this is the only option available to those who consider a safe investment even if the return is low. Debentures and fixed deposits of non-banking institutions and Nidhi companies are safer, more profitable and ensure higher returns than any other investment. Such investments are particularly safer because 10 per cent of deposits in the Nidhi companies have to be deposited in scheduled commercial banks as fixed deposits.
When and how do you start putting together a financial plan and investing are also important. One should always choose an investment plan by keeping one’s long-term financial goals in mind. Hence, it is ideal to closely watch the market trend.
It is advisable to choose long-term deposit schemes wherein you get both security and assured high returns for your investment. Choose doubling schemes offered by MSEYR-like companies. Start with whatever amount you have and let it increase gradually.
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