Nainital Bank Personal Loan Eligibility

You should be a permanent employee of Government Departments/Companies/ Reputed Institutions

Or

Field Officer/Agents of Insurance companies provided they are maintaining accounts with our bank for at least six months and the proceeds of their commission etc. are being credited in their accounts

Or

Other applicants engaged in business activity and professionals i.e. doctors, advocates, Chartered Accountants etc.

Eligibility	Loan Amount
For salaried employees	An amount equal to fifteen times of net take home monthly salary/salary credited to his a/c subject to maximum of Rs.3,00,000/-
	For high income employees of Govt. Department  and PSU such as Professors/Doctors/ Engineers having monthly salary of Rs. 75000.00 per month (minimum) and net take home salary of Rs. 50,000(minimum) excluding instalment of proposed loan subject to maximum amount of Loan of Rs. 5 lakh
For pensioners	An amount equal to ten times of monthly pension credited/remitted to the account of pensioner subject to a maximum amount Rs.50,000 including staff of Nainital Bank Limited
For Insurance Agents	An amount equal to average commission received during last two financial years subject to maximum Rs.2 lakh
Other Category i.e. Businessman, etc.	For Doctors & C.A. – An amount equal to two times of average returned income of last two years subject to maximum Rs.5 lakh
	Others – An amount equal to two times of average returned income of last two years subject to maximum Rs.2 lakh

You can use the online eligibility calculator available at Paisabazaar for the calculating your loan eligibility accurately and quickly. There are simple steps to be followed and you can check your eligibility:

• Click here
• Fill your basic details like occupation, required loan amount, monthly income, mobile number and city
• Click on ‘Proceed’

• Place of residence: People living in metro cities have higher eligibility rate, as the cost of living in these urban centres is higher. Individuals having their property in these cities would have a superior chance of being eligible for a personal loan due to their higher disposable income
• Income of the applicant: The higher the income of the applicant, the greater would be their personal loan eligibility.  They should additionally have a low debt-to-income ratio to be eligible for the loan
• Credit score: The majority of lenders prefer giving loans to people having a healthy credit score of 750 or above
• Employment status: Both self-employed and salaried individuals need to be stable in their employment or business to be eligible for a personal loan

• Do not apply for several loans at the same time
• Maintain a good credit score, at least more than 750
• In case you have less EMIs to pay for any previous loan, foreclose the loan or make a prepayment for it
• Do not own numerous credit cards