The Nainital Bank Limited is a private Indian bank, Based in Nainital, over the years, the bank has expanded to Uttar Pradesh and especially in Uttarakhand State, and has over 100 branches in Rajasthan, Delhi and Haryana states. In 1975 Government-owned Bank of Baroda (BOB), third largest bank in India, after the State Bank of India and the Punjab National Bank, acquired a majority stake (98.6%) and management control of the bank, and made it a subsidiary. Their deposit products and retail loans help you with your growing financial needs with facilities like Lockers we ensure that your valuables are safe with us. To know more, follow some simple steps given below to get best interest rates.
|Interest Rate (Floating)||1 year MCLR + 0.70% ie., 9.20%|
|Loan Tenure||1 year to 7 years|
Nainital Bank Limited has its roots dating back to 1922 when it was established to cater to the banking needs of the regional customers. In 1973, Bank of Baroda was directed by Reserve Bank of India to manage the affairs of Nainital bank. Bank of Baroda has 98.57% of the shares while the remainder of 1.43% shares is held by the public. The bank currently operates across five states in India through over 120 branches. It is a customer-centric bank that services customers financial needs promptly and efficiently.
Nainital offers car loans under the Suhana Safar Scheme that provides customers with financing for both two wheelers and four wheelers. You can get a loan for both new and used cars with very minimal eligibility criteria to fulfill. Enjoy maximum loan amounts with very low margins. Repay the loan with long tenures and easy EMIs.
Nainital Bank has incorporated the MCLR system for determining the interest rate on its various loan products, including its car loan – Suhana Safar car loan scheme. Existing Nainital Bank Car Loan borrowers have the option to continue with the interest based on the Base Rate or to migrate to the new MCLR lending rate system. MCLR rates are subject to change from the next reset date, as per RBI regulations. The MCLR rate followed by the Bank is as follows:
|Tenure||MCLR Percentage (in effect from April 2016)|
Base Rate applicable for existing Nainital Bank Car Loan borrowers = 9.75%
Nainital bank has a very low eligibility criteria set for its customers to avail of a car loan.
To estimate the EMI amount on your car loan, visit BankBazaar.com, and follow these simple steps.
All individuals can apply for Nainital Bank Suhana Safar Scheme for Financing of Four/ Two Wheeler.
You can apply for a car loan from Nainital Bank for the purpose of purchasing a new or old car or Jeep.
Yes, farmers can apply for a car loan from Nainital Bank.
The rate of interest for Nainital Bank Suhana Safar Scheme for Financing of Four/ Two Wheeler is Base Rate plus 0.25 percent.
Yes, you can apply for a car loan from Nainital Bank for the purpose of repaying loans of other banks or financial companies or financial institutions.
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