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    About Nainital Bank Personal Loan

    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 Rate

    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.

    Nainital Bank Personal Loan Interest Rates Table:

    Interest rates Base rate 10% + 5%
    Loan amount

    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

    Calculate EMI on your Personal Loan

    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

    How to calculate interest or EMI on Nainital Bank Personal Loan

    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. 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.

    Loan Table:

    Year Principal paid (Rs) Interest paid (Rs) Balance amount (Rs)
    2016 14,519 14,029 85,481
    2017 16,853 11,695 68,627
    2018 19,563 8,985 49,065
    2019 22,707 5,841 26,358
    2020 26,358 2,190 0

    Please note: Banks offer a varying interest rate at their sole discretion and rates are subject to change.

    Factors that affect your Nainital Bank Personal Loan rates

    There are many factors that affect your Standard Chartered Bank Personal Loan rates, some of which are mentioned below:

    1. Employment details: The details of your employment, like whether you are a full time or part time employee of an organization, or a pensioner and are not currently working in any organization but drawing a pension can have an impact on the interest rates. The interest rate will vary for each professional depending on his/her employment.
    2. Relationship with the bank: The bank, at its discretion may offer potential borrowers a lower rate of interest based on their relationship with it. If you have a good relationship with Nainital Bank, they can give you a consideration due to past actions, like loan repayments. Many banks may offer the people who are valued to them lower rates of interest.
    3. Age: Owing to the way younger applicants live their lives and follow the lifestyles the way they do, banks generally charge a potential borrower a higher rate of interest. If you’re a senior citizen a lower rate of interest is given as a consideration.
    4. Period of loan: Loan tenure with the bank also influences the rate of interest they offer, if loan tenure is for a shorter duration, the rate of interest is generally higher in comparison to a loan taken for more number of years.

    How your CIBIL score can affect you Nainital Bank Personal Loan rate

    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

    Key things you should know about Nainital Bank Personal Loan interest rates

    1. The Personal Loan interest rate charged by Nainital Bank is subject to the repo rate of the Reserve Bank of India, and may come down further, but not immediately.
    2. Interest rates might vary based on your CIBIL scores and it is possible for two borrowers to have different interest rates for the same amount and tenure.
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