Nainital Bank Two Wheeler Loan

The following are the features of Nainital bank two-wheeler loan:

1. All the customers who have a house loan with Nainital bank get an additional concession of 0.25% 
2. Collateral is not required for loans up to Rs.25 lakh 
3. Customers offering CRM securities with present value not less than 50% get an additional concession of 0.25% 
4. Personal guarantee is not required for Permanent PSU/Government Employees 

How to Apply for a Nainital Bank Two-Wheeler Loan?

In order to avail a bike loan from Nainital Bank, you will need to visit the bank and submit the application form along with the relevant documents. The loan will be provided only once you meet the eligibility criteria. 

In case your credit score is low, the interest rates will be high. The interest rates are low if your credit score is high. 

Nainital Bank Two-Wheeler Loan EMI Calculator

In case you wish to avail a two-wheeler from Nainital Bank to purchase a bike, you can use the two-wheeler loan EMI calculator offered by BankBazaar to check the monthly payments. Using the calculator is easy and helps in saving time. Once basic details such as the processing fee, tenure, loan amount, and rate of interest are entered, the total interest that will be paid and your EMIs will be displayed.

Nainital Bank Two-Wheeler Loan Eligibility

The eligibility criteria that must be met in order to avail a loan from Nainital Bank are mentioned below:

1. Ex-staff members, staff members, pensioners, and salaried employees.
2. You can avail the loan to purchase a bike for personal/private use.
3. Partners in a partnership firm and proprietor of a firm.
4. Self-employed individuals must provide Income Tax Returns for at least 1 year.
5. Directors of a Public/Private Ltd. Co.
6. Farmers, professionals, and businessmen.

Age Criteria

1. Minimum age of the applicant should be 21 years 
2. Minimum age of the co-applicant should be 18 years 
3. Maximum age of the applicant / co-applicant / guarantor + repayment period should not exceed 70 years. 

Documents Required

Salaried Employees

1. Application form.
2. Proof of age.
3. Proof of address such as rental agreement, passport, or utility bills.
4. Proof of identity such as driving license, passport, Voter's ID, or PAN card.
5. Salary Slips (government employees).
6. Salary certificates.
7. Form 16 (latest).

Self-Employed Individuals

1. Application form.
2. Proof of age.
3. Proof of address such as rental agreement, passport, or utility bills.
4. Proof of identity such as driving license, passport, Voter's ID, or PAN card.
5. Latest ITR.

Features and Benefits

The features and benefits of the two-wheeler loan offered by Nainital Bank are mentioned below:

1. The loan can be availed for the purchase of new two-wheelers.
2. Up to 85% of the on-road price of the bike may be provided as a loan.
3. Salaried and self-employed individuals can avail the loan.
4. The maximum loan amount that may be provided is Rs.5 lakh.
5. The repayment tenure is up to 60 months.

A good credit score can help you secure lower interest rates on loans and credit cards.

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