Car Loans are a very unique type of loans that are used for a specific function. It is taken by individuals who are interested in purchasing a car for themselves but cannot afford the same.
The Nainital Bank is a private bank which is based in Nainital. The bank has today expanded its branches to Uttar Pradesh and Uttarakhand. It has around 100 branches in Rajasthan, Haryana and Delhi. In 1975, Bank of Baroda, (BOB) which is the third-largest bank in India, following State Bank of India and Punjab National Bank, acquired control of the Nainital Bank.
The Nainital Bank offers car loans to interested customers under the Suhana Safar Scheme for both two-wheelers and four-wheelers. They provide you with loans for purchasing both new and used cars. They have minimum eligibility criteria that one must fulfil. They also provide long tenures and easy EMIs.
- You can apply for a loan to purchase a new and used car.
- In the case of two-wheelers, a loan is given only when you buy a new one.
- You can get this loan to repay loans taken with other banks or any other financial institutions, and continue your loan with Nainital Bank at better interest rates and tenures.
- You can enjoy low margins on your vehicle loan.
- Get long tenures to pay off the EMI for your car loan.
- Farmers can avail of a loan scheme with Nainital Bank on a half-yearly basis depending upon the crop patterns.
- Special rates are available during festivals.
Nainital Bank provides car loans at a low-interest rate of 9.75 percent.
Eligibility Criteria for a Nainital Bank Car Loan:
- Individuals who are at least 21 years old can apply for this loan.
- Proprietorship/ Private and Public Ltd. Co./ Partnership Firm.
The Nainital Bank offers you trusted service by experts who are waiting to help you through your journey of loans. It also allows for a long tenure and easy EMIs for your benefit.