Nainital Bank Home Loan

Please Note: Nanital Bank is not a Paisabazaar partner. Offers would be from partner banks/HFCs only.

Nainital Bank Home Loan Highlights
Interest Rate	For CIBIL scores of 800 and above: 8.40% p.a. For CIBIL scores above 750 and extending up to 799, -1: 8.65% p.a. For CIBIL scores above 701 and extending up to 749, 0, -1, 3 to 5: 8.95% p.a. For CIBIL scores above 675 and extending up to 700 and 1 & 2: 9.50% p.a. For CIBIL scores above 650 and extending up to 674: 9.85% p.a. For CIBIL scores below 650: 11.00% p.a. Note: The interest rates mentioned above are inclusive of concession for Credit Life Insurance and customers not opting for credit life insurance will have to pay additional interest of 0.05%
Loan Amount	Up to Rs 5 crore
Loan Tenure	Up to 30 years
Margin	10% to 25% depending on the loan amount
Processing fees	For loan amounts of up to Rs 5 lakh: Nil For loan amounts of above Rs 5 lakh and up to Rs 10 lakh: Rs 1,000 For loan amounts of above Rs 10 lakh and up to Rs 20 lakh: Rs 2,000 For loan amounts of above Rs 20 lakh and up to Rs 30 lakh: Rs 3,000 For loan amounts of above Rs 30 lakh and up to Rs 50 lakh: Rs 4,000 For loan amounts of above Rs 50 lakh: Rs 5,000

Note: Interest rates updated as of 3 December 2024

Compare Interest Rates on Home Loans for Top Banks & HFCs

Name of Lender	Loans of Up to Rs. 30 Lakh
Bank of India	7.10% p.a. onwards	Check Eligibility
State Bank of India	7.25% p.a. onwards	Check Eligibility
Punjab National Bank	7.20% p.a. onwards	Check Eligibility
Canara Bank	7.15% p.a. onwards	Check Eligibility
HDFC Bank	7.90% p.a. onwards	Check Eligibility
Bajaj Housing Finance	7.40% p.a. onwards	Check Eligibility
ICICI Bank	7.65% p.a. onwards	Check Eligibility
Axis Bank	*8.25% p.a. onwards	Check Eligibility
Federal Bank	*7.90% p.a. onwards	Check Eligibility
Kotak Mahindra Bank	7.70% p.a. onwards	Check Eligibility
IDFC FIRST Bank	8.85% p.a. onwards	Check Eligibility
IDBI Bank	7.35% p.a. onwards	Check Eligibility
RBL Bank	8.20% p.a. onwards	Check Eligibility
Tata Capital Housing Finance	7.75% p.a. onwards	Check Eligibility
PNB Housing Finance	*7.20% p.a. onwards	Check Eligibility
Sammaan Capital (Formerly known as Indiabulls Housing Finance)	8.75% p.a. onwards	Check Eligibility
India Shelter Home Loan	8.43% p.a. onwards	Check Eligibility
L&T Finance Limited	*8.40% p.a. onwards	Check Eligibility
Godrej Housing Finance	7.75% p.a. onwards	Check Eligibility
Home First Finance	8.00% p.a. onwards	Check Eligibility
Easy Home Finance	8.99% p.a. onwards	Check Eligibility
Piramal Capital Housing Finance	*8.25% p.a. onwards	Check Eligibility
Shubham Housing Finance	10.45% p.a. onwards	Check Eligibility
Punjab & Sind Bank	7.30% p.a. onwards	Check Eligibility
Jio Housing Finance	8.20% p.a. onwards	Check Eligibility
HDFC Sales Pvt Ltd	7.90% p.a. onwards	Check Eligibility

Nainital Bank Home Loan Interest Rates

Nainital Bank home loan interest rates start from 8.40% p.a. The home loan interest rates provided by the lender, based on the credit scores of its loan applicants, are provided below:

CIBIL Scores	Interest Rates (p.a.)
800 and above	8.40% p.a.
Above 750 and up to 799, -1	8.65% p.a.
Above 701 and up to 749, 0, -1, 3 to 5	8.95% p.a.
Above 675 and up to 700 and 1 & 2	9.50% p.a.
Above 650 and up to 674	9.85% p.a.
Less than 650	11.00% p.a.

Note: The interest rates mentioned above are inclusive of concession for Credit Life Insurance and customers not opting for credit life insurance will have to pay additional interest of 0.05%

Fees and Charges for Nainital Bank Home Loan

The home loan processing fees and other charges for Nainital Bank Home Loan are as follows:

Processing fees

Particulars	Rates
Processing fees	For loan amounts of up to Rs 5 lakh: Nil For loan amounts of above Rs 5 lakh and up to Rs 10 lakh: Rs 1,000 For loan amounts of above Rs 10 lakh and up to Rs 20 lakh: Rs 2,000 For loan amounts of above Rs 20 lakh and up to Rs 30 lakh: Rs 3,000 For loan amounts of above Rs 30 lakh and up to Rs 50 lakh: Rs 4,000 For loan amounts of above Rs 50 lakh: Rs 5,000

­­Prepayment Charges

Particulars	Rates
Prepayment charges	1% on outstanding balance (for full/partial prepayment done from own sources) No prepayment charges to be levied for floating rate home loans sanctioned to individual borrowers

Other Charges related to Nainital Bank Home Loans

Particulars	Rates
Penal charges (for late payment of EMI	2% on unpaid EMI

Types of Nainital Bank Home Loan

Apna Ashiana Home Loan

• Purpose: The Nainital Bank Apna Ashiana Home Loans enable loan applicants to avail loans for the construction/purchase of residential house or flat and for purchase of residential plot for home construction.
• Interest Rates: 65% to 11.00% p.a.
• Loan Amount: Up to Rs 5 crore
• Loan Tenure: Up to 30 years
• Margin: 10% to 25% depending upon the loan amount

Home Improvement Loan

• Purpose: The Nainital Bank Home Improvement Loans enable loan applicants to avail loans for repair/renovation of their existing homes or for buying furniture, fixture, furnishings and other gadgets like fans, geysers, water filters, air conditioners, air purifiers, desert coolers, heaters, etc.
• Loan Amount: Up to Rs 50 lakh
• Loan Tenure: Up to 15 years
• Margin: Up to 25% of the cost of repair of housing property

Home Top-Up Loan

• Purpose: The Nainital Bank Home Top-Up Loans enable existing housing loan borrowers to avail additional funds, over and above their ongoing loans, for personal or business-related uses (except for speculation). The tenure for top-up loans can be up to the maximum period till which the home loan is allowed based on the age limit criteria applicable for respective borrower category under the Apna Ashiana Home Loan scheme.
• Loan Amount: Up to Rs 50 lakh
• Loan Tenure: Up to 15 years
• Margin: Up to 25% of the cost of repair of housing property

Home Loan for Residential Plot Purchase

• Purpose: The Nainital Bank Home Loan for Residential Plot Purchase enables prospective borrowers to purchase plot for starting home construction within 5 years.
• Loan Amount: Up to Rs 2 crore
• Loan Tenure: Up to 10 years
• Margin: 140% of realizable value of an immovable property (based on the valuation report of the bank’s empanelled valuer) or the purchase price of property.

Nainital Bank Home Loan Eligibility Criteria

The home loan eligibility criteria set by Nainital Bank for its loan applicants are as follows:

• Minimum Age: 21 years (for applicant) and 18 years (for co-applicant)
• Maximum Age: 70 years (for salaried) and 75 years (for self-employed)
• Loan applicants should own the land on which the proposed house is to be constructed, along with having the construction plan approved/sanctioned by the competent authority/body. In case of joint ownership of the proposed land, all the joint owners should be made co-borrowers.
• Member(s) of registered group housing societies and farmers/agriculturists are also eligible under this home loan scheme.

Documents required for Nainital Bank Home Loan

Although Nainital Bank has not provided the list of home loan documents required while applying for its home loan scheme, lenders offering home loans usually require their loan applicants to submit the below mentioned documents:

• Identity Proof (any one): Passport, PAN Card, Driving Licence, Aadhaar Card, Voter’s ID Card, etc.
• Residence Proof (any one): Ration Card, Utility bills (telephone, electricity, water or gas), Bank Passbook, etc.
• Income Proof (for salaried): Form 16, last 3 year IT returns, promotion/increment letter, payslip of last 3 months, etc.
• Proof of income (for self-employed): IT Returns of last 3 years, Balance Sheet and P&L account statement of the company/firm duly attested by a Chartered Accountant, professional practice licence (for doctors, consultants, etc.), etc.
• Property documents: copy of sale agreement, title deeds of plot, detailed estimate of house construction by an architect/civil engineer, copy of the plans approved by local authorities, etc.
• Proof of business address
• Other documents: Proof of own contribution, last 6 months’ bank statements showing repayment of ongoing loans (if any), details of ongoing loans of individual/business entity, processing fee cheque in favour of the home loan lender
• Additional documents for self-employed: Latest form 26 AS, business profile, list of directors and shareholders with details of individual shareholding certified by CA / CS (if the business entity is a company)
• Partnership Deed (in case of a partnership firm)
• Articles of Association (AOA) and Memorandum of Association (MOA) of the company

Note: Nainital Bank may ask its loan applicants to submit additional home loan documents, apart from the ones mentioned above, based on their requirements and the loan applicant’s profile.