What if I am not a Government Employee? Can I avail a personal loan from Nainital Bank?

Yes, you can. The basic eligibility criteria set by Nainital Bank to avail a personal loan is to have a permanent job with a regular monthly income to ensure that you can pay the EMIs (Equated monthly installments).

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Nainital Bank Personal Loan 2025

Under the Naini Sahyog scheme, Nainital Bank offers personal loans of up to Rs.5 lakh at attractive interest rates for Government employees and those offering service in other fields.

Loan amount of up to Rs.5 lakh
Quick approval and disbursal of loan
Minimal documentation
Caters to the personal expenses of Govt. employees

Updated On - 06 Sep 2025

Why should I choose Nainital Bank Personal Loan?

Hassle-free documentation process.

Quick approval and disbursal of the personal loan.

Nainital Bank Personal Loan Interest Rates are attractive across various loan tenures.

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Nainital Bank Personal Loan Details

Listed below are the features of Naini Sahyog Personal Loan Scheme.

Naini Sahyog
Interest Rate	3.45% + MCLR for the 1- year tenure 3.15% + MCLR for the 2-year tenure 3.00% + MCLR for personal loan tenure above 2 years
Loan Quantum	Up to Rs.5 lakh
Processing Fee	Based on the terms and conditions as set by Nainital Bank

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Documents Required for Nainital Bank Personal Loan

Listed below are the documents required when applying for a personal loan offered by Nainital Bank:

Certificate of profession
Identity proof - Aadhaar card, Passport, Voter ID card, Government employment card, etc.
Address proof - Ration card, Aadhaar card, Passport, etc.
Proof of age - Birth Certificate, Aadhaar card, Voter ID Card, etc.
Passport-size photographs.
Application form.
Proof of Income Tax Returns or Form 16.

Listed above are the basic documents required to apply for a personal loan. If required, Nainital Bank will request for additional documentation for the verification process.

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What are the Eligibility Criteria for Nainital Bank Personal Loan?

Listed below are those who are eligible to avail a personal loan from Nainital Bank:

Should be a permanent government employee or from a reputed institution.
Field officers, insurance agents, doctors, advocates, chartered accountants, pensioners, etc.
Should be a resident of India.

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Age	Based on the terms and conditions as set by Nainital Bank
Employment Status	Salaried individual, permanent employee of the government or reputed institution, field officer, insurance agents, doctors, advocates, chartered accountants, etc.
Citizenship	Resident citizen of India
Minimum Net Salary	High income employees (Government, doctors, chartered accountants, etc.) applying for a maximum loan amount of Rs.5 lakh should have a monthly take home salary of Rs.50,000 excluding the personal loan EMI.

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EMI Calculation for Nainital Bank Personal Loan – How It Works

For customers that wish to understand how Nainital Bank and banks across the country calculate the personal loan EMI, we've listed out the EMI breakup over the repayment tenure. Here, let's assume that Mr. Shetty availed a personal loan of Rs.2 lakh from Nainital Bank and choose a repayment tenure of 1 year. Let's also assume that Nainital Bank charged him a 2% processing fee on the total loan amount that he availed and set an interest rate of 13% p.a on the loan amount.

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Year	Principal Paid(A)	Interest Paid(B)	Total Payment (A+B)	Outstanding Loan Balance
${currentYear}	1,47,551	13,222	1,60,773	52,450
Apr	15,697	2,167	17,864	1,84,303
May	15,867	1,997	17,864	1,68,436
Jun	16,039	1,825	17,864	1,52,398
July	16,212	1,651	17,863	1,36,185
Aug	16,388	1,475	17,863	1,19,797
Sep	16,566	1,298	17,864	1,03,231
Oct	16,745	1,118	17,863	86,486
Nov	16,927	937	17,864	69,560
Dec	17,110	754	17,864	52,450
2020	52,450	1,140	53,590	0
Jan	17,295	568	17,863	35,155
Feb	17,483	381	17,864	17,672
Mar	17,672	191	17,863	0

For the loan amount of Rs.2 lakh availed by Mr. Shetty, he will have to pay a monthly EMI of Rs.17, 863 to clear the loan amount in a year. The EMI amount is inclusive of the principal amount availed by Mr. Shetty and the interest rate of 13% p.a.

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FAQs on Nainital Bank Personal Loan

What if I am not a Government Employee? Can I avail a personal loan from Nainital Bank?
Yes, you can. The basic eligibility criteria set by Nainital Bank to avail a personal loan is to have a permanent job with a regular monthly income to ensure that you can pay the EMIs (Equated monthly installments).

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