Nainital Bank Car Loan: All you need to know

While loans such as personal loans can be availed for any reason, car loans have a more specific purpose. An individual availing for a car loan can only use the loan amount to purchase a car, new or used. However, the same purpose can be fulfilled with a simple gold or personal loan as well, though car loans provide you with a longer EMI due to its specificity.

There are many banks that provide a suitable car loan, however the Suhana Safar Scheme by Nainital Bank has many benefits for any salaried or self-employed individuals. They also provide benefits for any farmer looking to apply for a loan.

This scheme can only be availed by an individual looking to buy a four or two wheelers.

Eligible Borrowers:

  • Salaried Employees, Pensioners, Staff members and Ex-staff members
  • Farmers, Businessmen and professionals.
  • Directors of any private and public ltd. co.
  • Partners of a firm or proprietors.


  • For purchasing a new car, Multi Utility Vehicles or SUVs for a private usage
  • Purchasing a used car that will be used for personal use only for 3 years.
  • Purchasing a two-wheeler for personal use.

Amount Provided:

  • For a new four wheeler: A maximum amount of Rs. 75 lakh.
  • For a used four wheeler: A maximum amount of Rs.25 lakh.
  • Two wheelers: Rs. 5 lakh

Repayment Schedule: 

  • An individual gets a maximum of 84 months to repay an amount of up to 25 lakh, taken for a new car.
  • A new car with a loan amount of above 25 lakhs
  • allows a maximum of 120 months.
  • Taking a loan for purchasing an old car will fetch you a maximum of 48 months. 
  • Lastly, a two wheeler would fetch you a maximum of 60 months.


  • NEW FOUR WHEELER: Minimum of 10% of the on-road price
  • TWO WHEELER: Minimum 10% of the on-road price
  • OLD VEHICLES: Minimum 25% of the present value.


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