Nainital Bank Limited was started to cater to the financial needs of the people of Nainital city. Nainital Bank offers a personal loan by the name of “Naini Sahyog” to meet the financial needs of people. The bank provides financial lending to salaried/pensioners of government departments and other institutions and other category of borrowers.
Nainital Bank Personal Loan interest rates are very competitive and easy to obtain. Taking a loan from this bank is convenient on the pocket and minus the hassles of paperwork and complicated terms and conditions. The rate of interest for the Naini Sahyog loan is 15.00% per annum. This Personal Loan is available for Businessmen, salaried class, Doctors, CAs and more.
|Interest rates||Base rate 10% + 5%|
For salaried individuals: 15 times of net salary or maximum of Rs. 3 lakh
For pensioners: 10 times of monthly pension or maximum of Rs. 50,000
For Doctors and CA: 2 times of average return income of last 2 years or maximum of Rs. 3 lakh
For others: 2 times of average return income of last 2 years, or maximum of Rs. 2 lakh
|Loan tenure||5 years|
EMI per lakh
Rs. 2, 379
The amount was Rs. 1 lakh, tenure was 5 years, and processing fees is 0.
|Processing charges||May be charged at the bank’s discretion|
|Late payment charges||Bank will charge a late payment fee on the total loaned amount|
EMI is an amount that a borrower pays the bank each month towards the interest and principal loan amount. The principal amount and interest is divided by the tenure in which the loan has to be repaid. BankBazaar.com has made life easy for you with the EMI calculator, wherein you could use it to check the EMI you’d need to pay to the bank, and plan your finances correctly.
Let’s take an example, Mr. Jagdeep has taken a personal loan for Rs.1 lakh from Nainital Bank. The interest rate he is being offered is 15% for a tenure of 5 years. In the table below you can see the payments on a yearly basis which Mr. Jagdeep pays back to clear his personal loan.
|Year||Principal paid (Rs)||Interest paid (Rs)||Balance amount (Rs)|
Please note: Banks offer a varying interest rate at their sole discretion and rates are subject to change.
There are many factors that affect your Standard Chartered Bank Personal Loan rates, some of which are mentioned below:
Your CIBIL score is very important and should never be neglected, as a CIBIL report shows your credit history or repayment capabilities and of course your credit score. Many banks like Nainital Bank may offer you a lower rate of interest depending on your CIBIL score. Any scores of 750 and above are considered very good scores, and it is possible to improve your scores by paying your dues in a timely manner, without defaulting.M