Policies & Terms

GovFundPlus operates the Bharat Nivesh Yojana, a fixed-tenure savings programme available in tenures of 3, 6, 9 and 12 months. Each tenure carries a published rate of interest expressed as a percentage per annum on a simple-interest basis.

A deposit is created when the depositor selects a tenure, states an amount at or above the published minimum for that tenure, executes the policy paper electronically, and the funds are received and confirmed by the programme.

The rate applicable to a deposit is the published rate at the moment the deposit is booked. That rate is recorded against the deposit and is locked. Revisions to published rates apply only to deposits booked after the revision and cannot alter any existing deposit.

Interest accrues daily on a simple-interest basis using the formula: principal × annual rate × elapsed days ÷ 365. There is no compounding.

Interest begins accruing from the value date, being the date on which the programme confirms receipt of the deposit amount, and not the date on which the request was created.

The interest figure displayed on the investor dashboard is an accrual figure updated in real time. The amount payable on any request is the accrued figure at the time of the request, less any interest already paid out on that deposit.

Interest withdrawal: accrued interest becomes withdrawable after a minimum lock-in of three months from the value date. This lock-in applies to every tenure, including the 3-month scheme. Approved interest payouts are credited within 3 working days.

Principal withdrawal: the principal is locked for the full tenure selected and becomes withdrawable on the maturity date. Approved principal payouts are credited within 10 working days.

Working days exclude Saturdays, Sundays and public holidays observed by the programme's banking partners.

All payouts are made by electronic bank transfer to the depositor's own registered and verified bank account. Payouts to third-party accounts are not permitted under any circumstances.

Each payout is closed against a Unique Transaction Reference (UTR) number issued by the remitting bank. The UTR is recorded permanently in the depositor's statement and in the programme's payout log book.

Funds accepted under this programme are deployed into fixed-return debt instruments selected for capital preservation and predictable coupon income. This deployment strategy is what allows the programme to contract a fixed return for a fixed period.

Deposits accepted under this programme are recorded in the books of the operating entity, YK Enterprises, as unsecured obligations of that entity. The obligation to repay principal and contracted interest is an obligation of the operating entity.

This programme is not a bank deposit. It is not insured by the Deposit Insurance and Credit Guarantee Corporation. It is not guaranteed, endorsed or sponsored by the Government of India, the Reserve Bank of India, SEBI or any statutory authority. Depositors should read these terms in full and place only such funds as they can commit for the chosen tenure.

Every depositor must provide full name, mobile number, address and PAN before booking a deposit. A nominee may be recorded and can be updated at any time before maturity.

Bank account details supplied for payouts are reviewed by the operations desk before the first payout. Any change to bank details resets the account to a pending state and requires fresh verification, which may delay a payout in progress.

Interest earned under this programme is taxable in the hands of the depositor as income from other sources. Tax is deducted at source where required under the Income-tax Act, 1961, and a deduction statement is made available in the depositor's document vault.

Depositors eligible to receive interest without deduction may record a Form 15G / 15H declaration in their profile. The programme does not provide tax advice; depositors should consult their own advisor.

The programme collects only the information required to establish identity, execute the deposit contract, settle payouts and meet statutory obligations. Data is stored on managed cloud infrastructure with access restricted to authorised operations personnel.

Personal information is never sold. It is disclosed only to banking partners for the purpose of settling a payout, to professional advisors, or where disclosure is required by law.

Depositors may request a copy of their records or the correction of any inaccuracy through the grievance desk.

The policy paper is executed electronically by drawing a signature and typing the depositor's full legal name. The signature image, typed name, timestamp and a frozen snapshot of the deposit terms are stored together as the executed record.

The depositor acknowledges that this electronic execution is intended to have the same effect as a signature on paper, and that the stored snapshot is the authoritative record of the agreed terms.

Level 1 — raise a ticket from the Support section of your dashboard. Tickets are acknowledged within 2 working days and resolved within 7 working days.

Level 2 — if unresolved, write to grievance@govfundplus.in quoting your investor code and ticket reference. The grievance officer responds within a further 7 working days.

Every ticket, response and closure is timestamped and visible in your account.