To avail a personal loan from Nainital Bank, the basic eligibility criteria is to be a permanent employee of government organisations, a field officer or an agent of insurance firms, professional, or engaged in any business activity. A maximum of Rs.5 lakh can be availed as a personal loan from Nainital Bank. The loan can also be availed by pensioners. The interest rate on the Nainital bank personal loan, also known as Naini Sahyog, ranges between 11.50% and 11.95%.
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Nainital Bank offers personal loan to people engaged in business activities for a maximum amount equivalent to twice the average returned income of previous 2 years up to Rs.2 lakh.
A credit score of above 750 is considered a healthy score by most lenders to offer a personal loan but since your score is lower than the mentioned limit, your eligibility may be lower. You may be able to secure a loan but there are high chances of you being charged a higher rate of interest.
With your income, you may be able to get a personal loan from Nainital Bank but it is a good idea to get in touch with the bank directly to check your eligibility.
If you are a permanent employee of a private organisation, you are eligible to avail a personal loan from Nainital Bank.
No. You do not need to hold an account with Nainital Bank to avail a personal loan unless you are a field officer or an agent for insurance firms. If you fall under this category, you will need to transact with the bank for at least 6 months and the proceeds of your commission should be credited to the account you hold with Nainital Bank.
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