Nainital Bank Business Loan

Note: The mentioned interest rates, fees and charges are subject to change and depend on the sole discretion of the bank and RBI. GST and service tax shall be levied extra on the mentioned charges

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Nainital Bank offer business loans to various businesses, entrepreneurs and professionals to start a new business and meet the working capital requirements of their existing businesses. Below are the loan schemes offered by Nainital Bank under Business Loan category:

1. Vyapar Suvidha Loan

Vyapar Suvidha Loan is offered to all the businesses, individuals and cooperative societies which are active in their legal business for last 2 years. The loan is given for meeting their working capital requirements or creating assets for the business.

Features:

2. Naini Udyog Prasar for MSE

Naini Udyog Prasar Loan Scheme is a cash credit / term loan / demand loan offered to the eligible professionals, self-employed individuals and Micro and Small Enterprises (MSEs) such as advertising agencies, marketing / consultancy agencies, and small businesses involved in garage / bakery / transport, etc.

Purpose: For working capital requirements/ asset creation such as plant, building and machinery/ takeover of existing credit facilities.

Features:

3. Naini Nirman for Contractors

Naini Nirman Loan is offered to the businesses / individuals / cooperative societies which are engaged in legal construction activities. The loan is extended to borrowers who are permanent resident of area which is located nearby the branch of Nainital Bank and who holds satisfactory social and economic status. The prospective borrower(s) should be an income tax assesse / payee for last 3 financial years.

Purpose:

For meeting the capital requirements, purchasing machinery, purchasing vehicles required for the business, for asset creation and for furnishing bank guarantee.

Loan Amount:

For Cash Credit – Maximum Rs. 2 crore

For Loan – Maximum Rs. 1 crore

For Bank Guarantee – Maximum Rs. 1 crore

4. Naini Healthcare for Doctors

Naini Healthcare Scheme is offered to individual doctors or company / society / firms engaged in providing healthcare services and holds minimum qualification as stipulated by the bank. Also, the doctors who wish to obtain a loan, must have a professional experience of at least 2 years.

Purpose:

Features

Margin:

For purchase of Land/Building: 50%

Construction building: 30%

For equipment, machineries, vehicles, etc.: 20%

Mortgage of Immovable property: 25%

Bank approved Liquid securities: 15%

5. Trade Finance

The Trade Finance can be availed by retail traders / businessmen / service providers who are already established and are making a profit for last 2 years. The entities which are active in other businesses along with trade / business / service, are also eligible for the loan.

Purpose:

Nature of the Loan: