Nainital Bank Car Loan

2. Photo ID and age proof

3. Residence proof

4. Last 6 months bank statement

5. Documentation for salaried applicants: Last 3 months salary - slips Form 16 or Income Tax Returns

6. Documentation for self-employed applicants: Last 3 years Income Tax Returns with computation of Income Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account

Nainital Bank Car Loan Interest Rates

Overview About Nainital Bank Car Loan

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.

Why choose Nainital Bank Car Loans

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.

Features of Car Loans from Nainital Bank

1. Avail of a loan for new and used cars or jeeps.
2. Loans are available only for new two-wheelers.
3. You can avail of this loan to repay loans of other banks, financial institutions or companies, and continue your loan with Nainital at better interest rates and terms.
4. Enjoy low margins on your vehicle loan.
5. Get long tenures to pay off the car loan in easy EMIs.
6. Farmers can avail of loan repayment schemes on half-yearly basis in accordance to crop patterns.
7. Special concessionary rates are available as a Festive offer.

Nainital Bank Car Loan Interest Rates

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:

Base Rate applicable for existing Nainital Bank Car Loan borrowers = 9.75%

Eligibility criteria for a Car Loan from Nainital Bank

Nainital bank has a very low eligibility criteria set for its customers to avail of a car loan.

1. Individuals who are at least 21 years old.
2. Proprietorship/Partnership Firm /Private and Public Ltd. Co.

How to calculate EMI on Nainital Bank Car Loans

To estimate the EMI amount on your car loan, visit BankBazaar.com, and follow these simple steps.

1. Select "Finance Tools" in the tab available on the home page.
2. Under "EMI Calculator", select "Car Loan EMI Calculator"
3. You need to enter details required for EMI calculation:
   1. Loan amount
   2. Tenure
   3. Interest rate
   4. Processing fee
   5. And if you would like to make prepayments on your loan
4. Click on "calculate" to find out the necessary details of your car loan.

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