The Nainital Bank Ltd Loans

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The Nainital Bank Ltd is a pioneer bank that has its headquarters in Nainital, Uttarakhand. Over the years, the bank has emerged as a customer oriented bank and provides a wide range of products and services to its consumers. The Nainital Bank Ltd. loan is one of the services provided by the bank.

One can avail loans like the Nainital Bank Ltd home loan, the Nainital Bank Ltd education loan and the Nainital Bank Ltd car loan. Besides, there are loans for salaried class, doctors and businessmen. There is a scheme for traders, hoteliers, contractors, transport operators and small and medium enterprises.

The Nainital Bank Ltd home loan can be availed by the eligible applicants. In the bank, the home loan is known as 'Apna Ashiana'. If one applies for a loan for an existing house, the repayment should begin after 3 months from the date of disbursement.

On the other hand, if one has purchased a house or a flat from a development authority, a society or a builder, then the repayment would begin after the execution of sale deed, or after possession, or after 18 months, whichever is earlier. However, if one has bought a piece of land or constructed a house, then the tenure of repayment should not exceed 20 years from the disbursement of the loan date.

The Nainital Bank Ltd car loan is known as 'Suhana Safar'. If one wants to purchase a car or a two wheeler, one can avail loan upto ` 15 lac for new and ` 5 lac for old car. With the car loan, one would be able to realize his dreams of owning a vehicle.

One can apply for the Nainital Bank Ltd education loan or 'Siksha' for upto ` 7.5 lac in order to study in India. Whereas in case of abroad studies, one can apply for a loan upto ` 15 lac. For a loan upto ` 4 lac, no guarantor is required. However, loan more than ` 4 lac and upto ` 7.5 lac requires guarantee and loan more than that requires collateral security of suitable value.

In order to get the Nainital Bank Ltd loan, one would need to apply in a standardized way. The loan application form can be downloaded from the official website of the bank. The form would include the application charges, refundable money (if the application is rejected), prepayment options and other interest of the recipient.

Along with the loan application form, one needs to submit the photocopy of all other relevant documents. However, any change in the service charges and interest rates would be posted on the website or in other print and other media.