Nainital Bank Personal Loan

A personal loan is an unsecured loan available to salaried person as well as self-employed persons on the basis of borrowers credit history and ability to repay the loan from his own source.
The personal Loan is just what you need to address your diverse financial needs.
Personal loans can be used for any reason. Pay off unexpected expenses, repair your home or vehicle or make a special purchase for less than using a credit card.

Why Nainital Bank Personal Loan

  • Nominal Interest  Rates.
  • The applicant can avail a loan up to 30 Lakhs.
  • After that No cosigner required.
  • No need to mortgage any collateral/security.
  • It is a multipurpose loan, can be used in any financial crises.

Interest Rates of Nainital Bank Personal Loan

Interest rates of Nainital Bank Personal Loan are 11.95% and onwards according to the amount of loan.

Eligibility of Nainital Bank Personal Loan

It is based on which bank has to approve the request of the applicant regarding the credit there are two categories of the applicants:

1.Salaried

2.Self-employed

There are various eligibility criteria for both applicants.

Salaried Applicants

  • Firstly the age of the customer should at least 21 or above.
  • The second thing is the salary of an applicant must have 18000 or more.
  • After that, 650 CIBIL score is required to get the loan.
  • Further, most the applicant will get a loan from his/her nearest branch only.
  • Lastly, ITR (Income Tax Return) is mandatory for the last 2 years.

Self-Employed Applicants

  • Under self-employed age, criteria must be 21 or above.
  • ITR (Income Tax Return) is required for the last 3 years.
  • After that, the business should have been working for the last 3 years.
  • Moreover, the customer has a good credit score, no dues should be outstanding.
  • 5lacs annual income is needed.
  • Bank statement of the previous 3 months is needed.

Documents for Nainital Bank Personal Loan

It includes 2 categories

1.)    Salaried

2.)    Self Employed

Salaried

  • Firstly, Id proof ( Driving License, Passport, PAN card, Aadhar card, Voter card)
  • Secondly, residence Proof (Passport ,Driving License, Aadhar card, Ration card)
  • After that photo ID proof (Passport, Aadhar card, Driving License) any 1 of them
  • Moreover, latest Bank account statement of 3 months.
  • Besides that salary slip of the previous 3 months.
  • Although, 2 colored passport size snap is mandatory.
  • Lastly, Employment certification.

Self Employed

  • ID proof (Voter card, Aadhar card, pan card, Passport, Driving License, Passport)
  • ITR is required for the previous 3 years.
  • A business should be registered and working for at least 3 years.
  • Proof of Ownership (bill of purchases, sales).
  • Form 16

Tenure of Nainital Bank Personal Loan

Loan tenure would be fall between  1 year to 5years.

Processing fees

The processing fee is up to Rs1500 on loan amount

About Nainital Bank

The bank was founded in 1922, and the bank is a subsidiary of BOB (Bank of Baroda). The bank having 139 branches in Haryana, Delhi, and Rajasthan. Dinesh Pant is the current CEO, MD of Nainital Bank