Nainital Bank Personal Loan Interest Rates

Nainital Bank provides personal loans (Naini Sahyog) in the form of term loans, demand loans, or overdraft reductions for amounts up to Rs 15 lakh @10.40% p.a. Except for speculation, applicants may utilize the personal loan for any purpose.

The bank additionally offers a 0.50% discount to borrowers who offer CRM Securities (Nainital Bank's deposit/ LIC/ NSC/ Acceptable Paper Securities) as collateral with a present value of at least 50%, subject to the same being maintained till the advance facility is liquidated.

Nainital Bank does not levy any prepayment penalty for credit facility foreclosure.

Details of the Nainital Bank Personal Loan Schemes

 

Nainital Bank Personal Loan Interest Rate

10.40%

Maximum Amount

Rs 15 Lakh

Period

Up to 12 years

Required Age

21 years

Processing Fee

2%

Nainital Bank Interest Rates

 

CIBIL

Interest Rate

700 and above Or -1 and above 3

10.40% p.a.

Below 700 Or less than 3

10.90% p.a.

Other Charges of the Nainital Bank Personal Loan

Processing Fee

2%

Prepayment Fee

1% 

Who is Eligible for the Personal Loan Scheme from Nainital Bank?

  • The permanent staff of government agencies, corporations, and reputable institutions.
  • Field officers and insurance agents on the condition that they maintain their association with Nainital Bank for a minimum of six months. Their commission and other earnings must also be credited to their accounts.
  • Advocates, doctors, Chartered Accountants, and other professionals

What are the Documents Required for the Nainital Personal Loan Scheme?

Important documents to send with your application for Nainital Bank Personal Loans-

  • Loan application completed
  • Three passport-sized photos
  • Bank account statement/passbook for the previous six months
  • Proof of residency (photocopies of recent phone and electric bills)
  • Identification (photocopies of voter ID cards, passports, driving licenses, and IT PAN cards)
  • IT returns for self-employed professionals for three years
  • Form 16/IT returns for salaried personnel for the previous two fiscal years

Other Bank Interest Rates on Personal Loans

 

Banks/NBFCs

Interest Rates (p.a.)

SBI

10.30%-15.10%

HDFC Bank

11.00% onwards

Axis Bank

10.25% onwards

Kotak Mahindra Bank

10.99% onwards

IDFC First Bank

10.75% onwards

Bajaj Finserv

13.00% onwards

IndusInd Bank

10.49% onwards

Tata Capital

10.99% onwards

ICICI Bank

10.75% onwards

How to Apply for the Nainital Personal Loan Scheme?

You can apply for a Nainital Bank Personal Loan online by visiting the lender's official website. Under the brand name 'Naini Sahyog,' the bank provides a personal loan.

You can access an 'Application Form for Nani Sahyog' link by clicking here. When you click, a PDF page will open. After that, you must print the form, fill it out, sign it, and return it to Nainital Bank for processing.

Factors that can Affect the Interest Rate

Many factors influence your Nainital Bank Personal Loan rates; some of them are listed below-

  • Employment Data: Your employment details, such as whether you are a full-time or part-time employee of an organization, or a retiree who is not actively working but getting a pension, might have an impact on interest rates. The interest rate for each professional will differ depending on his or her occupation.

  • Nainital Bank Relationship: The bank may, at its discretion, offer a cheaper interest rate to potential borrowers based on their connection with it. When you have a good banking relationship with the Nainital Bank, they may give you preference based on previous activities, such as loan repayments.
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