The criteria for opening a recurring deposit with Nidhi is the same as applicable for opening fixed deposits in Nidhi.
First of all, you have to satisfy the KYC Standards of the Reserve Bank of India. You have to produce the following copies of documents:-
- Aadhaar Card and PAN Card – mandatory (for proof of Identity or Address)
- Family Ration Card
- Telephone Bill
- Two Passport size photographs
You have to remit Rs.100/- for Membership Enrollment and Rs.1000/- for opening Savings Deposit Account.