A "low interest" loan shouldn't mean you have very little interest in paying it back!
  • Nainital Bank Home Loan

    Nainital Bank offers its customers home loans at attractive interest rates. The interest rates at which the lender offer home loans start at 4.45% p.a. under the Pradhan Mantri Awas Yojana (PMAY) scheme. You can avail a loan of up to Rs.5 crore which can be repaid in a period of 30 years. Nainital Bank also offers subsidy of up to Rs.2.67 lakh on the home loan that is availed under the PMAY scheme.

    Key Highlights

    • Can be availed for constructing/purchasing a house/flat
    • No guarantors required
    • No processing fee or other charges for a limited period
    • Subsidy benefit is provided under PMAY scheme

    Eligibility of Nainital Bank Home Loan

    • Resident and non-resident Indians.
    • Registered group housing society and farmers/agriculturists can also avail the loan.
    • Individuals must own land where the proposed house is to be constructed.
    • Have the construction plan duly approved/sanctioned by competent authority.
    • In case the land has joint owners, they shall be co-borrowers of the loan.

    Documents Required for Nainital Bank Home Loan

    For salaried

    • Identity proof
    • Residential address proof
    • Age proof
    • Last 3 months’ salary slips
    • Form 16 or Income Tax Returns
    • Property-related documents

    For self-employed

    • Proof of Identity
    • Proof of residential address
    • Age proof
    • Income Tax Returns for the last two years
    • Profit and loss account along with computation of income and balance sheet for the last 2 years certified by a chartered accountant
    • Business continuity proof of at least 3 years
    • Bank statements for the last 6 months

    Nainital Bank Home Loan EMI Calculator

    Nainital Bank offers you the Home Loan EMI calculator as well in order to calculate the EMI that you would need to pay after the loan is availed. This is beneficial to gauge your repayment capacity without jeopardizing your monthly budget. All you need to do is enter the loan amount that you are looking to avail, the interest rate charged by the bank and the repayment tenure. Doing this will help you in finalizing the amount that you will be paying as EMIs for the home loan.

    FAQs on Nainital Bank Home Loan

    1. What is the penal interest for default up to 6 months?

      Penal interest of 1% shall be charged on the amount in case of default up to 6 months.

    2. What is the maximum amount I can get as loan for purchase of land?

      Nainital Bank offers loan up to Rs.30 lakh for purchase of land.

    3. What is the maximum age until which I can avail or repay the loan amount?

      The maximum age is 70 years including the repayment of the loan.

    4. What is the effective rate of interest for loan availed under PMAY scheme?

      The interest rate charged on loan availed under PMAY is 4.45% p.a.

    5. Who falls under the category of farmers when looking to avail the Nainital Bank Home Loan?

      An individual whose more than 50% income is derived from agriculture fall under the category of farmers.

      

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    Nainital Bank Home Loan Reviews

    • Nainital Bank Home Loan
      "Cheapest interest rate and excellent service "
      0.5 5.0/5 "Blown Away!"
      The rate of interest of home loan of Nainital bank is 8.20%p.a (daily reducing balance), which is best in the banking industry. no processing n documentation charges, 30 yr long tenure, finance up to 80%. very much satisfied with banking services of Nainital Bank, it is with personal touch.. thanks.. I recommend all for this 01123583606 is their contact number.
      Was this review helpful? 0
      , new delhi
      Reviewed on May 10, 2018
    • Nainital Bank
      Nainital Bank Home Loan
      "Very Good"
      0.5 5.0/5 "Blown Away!"
      I had a great service from the Nainital Bank when i applied for the housing loan. The customer service executive Mr Giri Wal who took the initiative in updating the status of the loan. The explained me what all documents are required in one shot. I got the approval in three days and in next 5 days i got the loan amount disbursed.
      Was this review helpful? 0
      , delhi
      Reviewed on Sep 22, 2014
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