Disclaimer: Nanital Bank is not a Paisabazaar partner for personal loan and all content herein is strictly informative in nature. Paisabazaar is not affiliated with, sponsored by or in any way connected to Nanital Bank for personal loans. No offers/services from Nanital Bank are being provided by Paisabazaar for personal loans. For further information about Nanital Bank for personal loans, users are required to reach out directly to Nanital Bank.
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Nainital Bank Personal Loan Highlights |
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| Interest rate | 12.50% p.a. onwards |
| Loan amount | Up to Rs 15 Lakh |
| Loan tenure | 7 years for term loans 12 years for reducing OD |
| Age Criteria | Minimum 21 years and maximum 65 years for salaried & 70 years for others |
| Processing fee | 2% in addition to documentation charges (minimum Rs 500) |
| Margin | Nil |
| Prepayment Charges | Nil on foreclosure of credit facility |
Note: Interest rates as of 20th December 2024
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Nainital Bank Personal Loan Interest Rates
| CIBIL Score | Overdraft | Term loan |
| 700 and above Or -1 and above 3 | 12.50% p.a. | 12.50% p.a. |
| Below 700 Or less than 3 | 13.00% p.a. | 13.00% p.a. |
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Comparison of Interest Rates between Nainital Bank and other Banks/NBFCs
| Banks/NBFCs | Interest Rates(p.a.) | |
| Axis Bank | 11.25% onwards | Apply Now |
| IndusInd Bank | 10.49% onwards | Apply Now |
| IDFC First Bank | 10.99% onwards | Apply Now |
| HDFC Bank | 10.85% onwards | Apply Now |
| ICICI Bank | 10.85% onwards | Apply Now |
| Kotak Mahindra Bank | 10.99% onwards | Apply Now |
| Tata Capital | 11.99% onwards | Apply Now |
| Federal Bank | 12.00% onwards | Apply Now |
| DMI Finance | Up to 28% | Apply Now |
| L&T Finance | 12.00% onwards | Apply Now |
| Kreditbee | 16.00% - 29.95% | Apply Now |
| MoneyTap | 13.00% onwards | Apply Now |
| Piramal Finance | 12.70% onwards | Apply Now |
| Aditya Birla | 10.99% onwards | Apply Now |
| Moneyview | 14%-36% | Apply Now |
| Cashe | 27.00% onwards | Apply Now |
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Nainital Bank Personal Loan Fees and Charges
Processing fee
| Processing fee | 2% along with documentation charges (minimum Rs 500) |
Prepayment/foreclosure charges
| Prepayment charges | 1% on outstanding balance (if paid from own sources) |
Other fees and charges
| Charges on late EMI payment | 2% on unpaid EMI |
Nainital Bank Personal Loan EMI Calculator
Monthly EMI ₹ 15,622
Total Amount Payble ₹ 5,62,395(Principal + interest)
Principal Amount ₹ 5,00,000
Total Interest Payble ₹ 62,395
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Nainital Bank Personal Loan Eligibility Criteria
- Minimum age: 21 years
- Maximum age: 65 years for salaried 70 years for others
- Permanent employees of PSU/Government Employee/Companies/Reputed Institution/UGC or AICTE recognised college or university
- Pensioners of PSU/Government employee/companies/reputed institution/UGC recognised university/retired pensioners of NTB bank
- Field officer/agents of public sector insurance companies
- Professionals (doctors, advocates, architects, Chartered Accountants, etc)
Also know: What is the personal loan eligibility criteria for salaried & self-employed applicants?
Documents Required for Nainital Bank Personal Loan
Nainital Bank has not disclosed the documents required for availing personal loan. The borrower may have to submit basic documents such as the proof of address, age, income, etc, when applying for a personal loan.
Also read: List of Common Documents Required to Avail a Personal Loan
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FAQs
Q. If I am not a government employee, can I apply for a personal loan at Nainital Bank?
Ans. Yes, you can. The requirement to take a loan is having a permanent job with a stable income per month to make sure that you are fully capable of paying your EMIs.
Q. What is the amount of personal loan that I can get from Nainital Bank?
Ans. The maximum amount of personal loan that one can get is INR 5 lakh.
Q. How is payment of EMIs (Estimated or Equated Monthly Instalments) done?
Ans. EMIs (Estimated or Equated Monthly Instalments) can be paid via cheques deposited at the branch of Nainital Bank or via Electronic Clearing System (ECS) or through net banking.
Q. What would be the reasons for the rejection of my application of personal loan at Nainital Bank?
Ans. Nainital Bank may reject your application for personal loans if you do not meet the requirements for eligibility. It can be due to your income, profession, age, your credit score (CIBIL score) or your non-payment or inability to repay the loan via EMIs.