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  • Nainital Bank Personal Loan

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  • Under the Naini Sahyog scheme, Nainital Bank offers personal loans of up to Rs.5 lakh at attractive interest rates for Government employees and those offering service in other fields.

    • Loan amount of up to Rs.5 lakh
    • Quick approval and disbursal of loan
    • Minimal documentation
    • Caters to the personal expenses of Govt. employees

    Why should I choose Nainital Bank Personal Loan?

    • Hassle-free documentation process.
    • Quick approval and disbursal of the personal loan.
    • Attractive interest rates for the one-year, two-year and above two-year personal loan tenures.

    Loan Details

    Listed below are the features of Naini Sahyog Personal Loan Scheme.

    Naini Sahyog
    Interest Rate
    • 3.45% + MCLR for the 1- year tenure 
    • 3.15% + MCLR for the 2-year tenure 
    • 3.00% + MCLR for personal loan tenure above 2 years 
    Loan Quantum Up to Rs.5 lakh 
    Processing Fee Based on the terms and conditions as set by Nainital Bank 

    Documents Required

    Listed below are the documents required when applying for a personal loan offered by Nainital Bank:  

    • Certificate of profession 
    • Identity proof – Aadhaar card, Passport, Voter ID card, Government employment card, etc.  
    • Address proof – Ration card, Aadhaar card, Passport, etc.  
    • Proof of age – Birth Certificate, Aadhaar card, Voter ID Card, etc.  
    • Passport-size photographs.  
    • Application form.  
    • Proof of Income Tax Returns or Form 16.  

    Listed above are the basic documents required to apply for a personal loan. If required, Nainital Bank will request for additional documentation for the verification process.  

    What are the eligibility criteria? 

    Listed below are those who are eligible to avail a personal loan from Nainital Bank:  

    • Should be a permanent government employee or from a reputed institution.  
    • Field officers, insurance agents, doctors, advocates, chartered accountants, pensioners, etc.  
    • Should be a resident of India.  
    Age  Based on the terms and conditions as set by Nainital Bank 
    Employment Status  Salaried individual, permanent employee of the government or reputed institution, field officer, insurance agents, doctors, advocates, chartered accountants, etc.  
    Citizenship  Resident citizen of India 
    Minimum Net Salary 
    • High income employees (Government, doctors, chartered accountants, etc.) applying for a maximum loan amount of Rs.5 lakh should have a monthly take home salary of Rs.50,000 excluding the personal loan EMI.  

    How the EMI calculation for Nainital Bank personal loan work? 

    For customers that wish to understand how Nainital Bank and banks across the country calculate the personal loan EMI, we’ve listed out the EMI breakup over the repayment tenure. Here, let’s assume that Mr. Shetty availed a personal loan of Rs.2 lakh from Nainital Bank and choose a repayment tenure of 1 year. Let’s also assume that Nainital Bank charged him a 2% processing fee on the total loan amount that he availed and set an interest rate of 13% p.a on the loan amount.   

    Year  Principal Paid(A)  Interest Paid(B)  Total Payment   (A+B)  Outstanding Loan Balance 
    2023  1,47,551  13,222  1,60,773  52,450 
    Apr  15,697  2,167  17,864  1,84,303 
    May  15,867  1,997  17,864  1,68,436 
    Jun  16,039  1,825  17,864  1,52,398 
    July  16,212  1,651  17,863  1,36,185 
    Aug  16,388  1,475  17,863  1,19,797 
    Sep  16,566  1,298  17,864  1,03,231 
    Oct  16,745  1,118  17,863  86,486 
    Nov  16,927  937  17,864  69,560 
    Dec  17,110  754  17,864  52,450 
    2020  52,450  1,140  53,590 
    Jan  17,295  568  17,863  35,155 
    Feb  17,483  381  17,864  17,672 
    Mar  17,672  191  17,863 

    For the loan amount of Rs.2 lakh availed by Mr. Shetty, he will have to pay a monthly EMI of Rs.17, 863 to clear the loan amount in a year. The EMI amount is inclusive of the principal amount availed by Mr. Shetty and the interest rate of 13% p.a.  


    What if I am not a Government Employee? Can I avail a personal loan from Nainital Bank?

    Yes, you can. The basic eligibility criteria set by Nainital Bank to avail a personal loan is to have a permanent job with a regular monthly income to ensure that you can pay the EMIs (Equated monthly installments).

    What is the maximum personal loan amount that one can avail from Nainital Bank?

    The maximum loan amount that one can avail from Nainital Bank depends on the profession and income of the applicant

    Is the interest rate for the personal loan for Nainital Bank fixed?

    The interest rate offered by Nainital Bank is subject to change from time to time and as per the terms and conditions set by Nainital Bank. In addition, the interest rate depends on the MCLR which is set by the Reserve Bank of India.

    How can I pay my EMIs? 

    You can pay your equated monthly installments through your net banking account, ECS (Electronic Clearing System) or via cheque at the Nainital Bank branch.

    What could be the reason If Nainital Bank rejects my personal loan application?

    It is possible that your income, profession, age, CIBIL score, or your perceived inability to repay the loan could be a few reasons why your personal loan application could be rejected by Nainital Bank.

    How to contact Nainital bank personal loan customer care?

    Visit our Nainital bank personal loan customer care page for more details. You can also send your query via post to the following addresses given below:

    • Registered Office:
    The Nainital Bank Limited
    Registered Office -
    GB Pant Road
    • Head Office:
    Seven Oaks Building
    Mallital, Nainital
    Uttarakhand - 263001
    Ph :-05942- ;
    Fax :- 05942-236939


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    Nainital Bank Personal Loan Reviews

    • Nainital Bank
      "Awesome Services...."
      0.5 5.0/5 "Blown Away!"
      The services offered by nainital bank was very good. The executive came home to collect the documents. The response was quick. Interest rate was very low for my personal loan. No hidden charges. Being a government bank they are working after the banking hours and customer can reach them till 6pm. Private banks must learn this from the nainital banks.
      Was this review helpful? 6
      , new delhi
      Reviewed on Sep 30, 2015
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