Nainital Bank Pension Loan

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Nainital Bank Pension Loan Features

Nainital Bank Pension Loan Interest Rate 10.00% – 10.50%
Nainital Bank Pension Loan Processing Fee 0.50%-1% of the loan amount
Nanital Bank Pension Loan Tenure 60 months
Nainital Bank Pension Loan Amount Minimum ₹50,000
Nainital Bank Pension Loan Amount Max ₹5 Lakh
Nainital Bank Family Pension Loan Amount Minimum ₹50,000
Nainital Bank Family Pension Loan Amount Max. ₹5 Lakh
Nainital Bank prepayment 3% of the loan amount
Nainital Bank foreclosure 3% of the loan amount

Nainital Bank Pension Loan Eligibility 

  • Permanent employees of Reputed Organisations, Central and State Government. 
  • The Field officers and insurance agents who draw their monthly pensions from Nainital Bank. 
  • Professionals like doctors, lawyers, C.A etc

Nainital Bank Pension Loan Eligibility for Central and State Government Pensioners

Eligibility Criteria Key Features
Employer Type Central and State Government
Applicant’s Age Below 76 years of age
Account Type Pension payment order maintained by Bank
Treasury Terms Written consent from the treasurer not to accept any pension transfer requests
Guarantee Terms By the spouse (eligible for a family pension) or any other third party

Nainital Bank Pension Loan Eligibility For Defence Pensioners

Eligibility Criteria Key Features
Employer Type Armed Forces, Paramilitary Forces, Coast Guards, Rashtriya Rifles, Assam Rifles
Applicant’s Age Below 76 years of age
Account Type Pension payment order maintained by Bank
Treasury Terms Not applicable
Guarantee Terms Not applicable

Nainital Bank Pension Loan Eligibility For Family Pensioners

Eligibility Criteria Key Features
Employer Type Central and State Governments including all Armed Forces
Applicant’s Age Below 76 years of age
Account Type Pension payment order maintained by Bank
Treasury Terms Not applicable
Guarantee Terms Authorized members of the family under the family pension scheme

Maximum Eligible Loan Amount and repayments

For Central and State Government Pensioners:

Age Max Loan Amount (18 months Pension or Less) Repayment Period Age at the time of full Repayment
Below 72 years ₹ 14.00 Lakh 60 months Up to 77 years
72 – 74 years ₹ 12.00 Lakh 48 months Up to 78 years
74 – 76 years ₹ 7.50 Lakh 24 months Up to 78 years

For Defense Pensioners:

Age Max Loan Amount (18 months Pension or Less) Repayment Period Age at the time of full Repayment
Below 56 years ₹ 14.00 Lakh 84 months Up to 63 years
56 – 72 years ₹ 14.00 Lakh 60 months Up to 77 years
72 – 74 years ₹ 12.00 Lakh 48 months Up to 78 years
74 – 76 years ₹ 7.50 Lakh 24 months Up to 78 years

For Family Pensioners (including Defense Pensioners):

Age Max Loan Amount (18 months Pension or Less) Repayment Period Age at the time of full Repayment
Below 72 years ₹ 5.00 Lakh 60 months Up to 77 years
72 – 74 years ₹ 4.50 Lakh 48 months Up to 78 years
74 – 76 years ₹ 2.50 Lakh 24 months Up to 78 years

Interest Rate On Nainital Bank Personal Loan For Pensioners

The rate of interest is set at a low of 3.4% to make it easier for the old pensioners to repay it without difficulty. 

Document Required For Nainital Bank Pension Loan

  • Nainital Bank Pension Loan signed application form along with passport size photographs
  • As identity Proof -Copy of Adhar card/passport/voter ID card/driving license
  • As income Proof – Last 3 months bank statement/6 months bank passbook, Latest salary slip
  • Processing fee cheque

Loan Amount On Nainital Bank Personal Loan For Pensioners

For State and Central Government Pensioners:

Age Minimum Loan Amount Maximum Loan Amount Additional Ceiling Amount Loan Tenure
Less Than 72 Years 25000 14 Lakh 18 Months Pension 60
72 to 74 Years 25000 12 Lakh 18 Months Pension 48
74 to 76 Years 25000 7.5 Lakh 18 Months Pension 24

For Defence Pensioners:

Age Minimum Loan Amount Maximum Loan Amount Additional Ceiling Amount Loan Tenure
Up to 56 Years Rs 25000 14 Lakh 36 Months Pension 84
Less Than 72 Years Rs 25000 14 Lakh 18 Months Pension 60
72 to 74 Years Rs 25000 12 Lakh 18 Months Pension 48
74 to 76 Years Rs 25000 7.5 Lakh 18 Months Pension 24

For Family Pensioners:

Age Minimum Loan Amount Maximum Loan Amount Additional Ceiling Amount Loan Tenure
Less Than 72 Years 25000 5 Lakh 18 Months Pension 60
72 to 74 Years 25000 4.5 Lakh 18 Months Pension 48
74 to 76 Years 25000 2.5 Lakh 18 Months Pension 24

AboutNainital Bank Pension Loan Nainital Bank

Nainital Bank was founded in 1922, this scheduled commercial bank is a subsidiary of Bank Of Baroda. In recent years the bank has ambitious expansion plans and thereby the bank has 139 branches in Northern India. 

FAQs on Nainital Bank Pension Loan

✅ Can you get a loan on a pension?

The Nainital Bank Pension Loan is possible for the Central and State Govt pensioners, Defense pensioners, and family pensioners up to 76 years of life.

✅ How do I apply for Nainital Bank Pension Loan?

You can practice online via Dialabank or call at 9878981166.

 

 

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