Corporate Business Loans from Nainital Bank
One of the popular private banks in India, Nainital Bank offers a wide range of finance products to different segments of its customer base. The bank has a wide array of funded and non-funded facilities for its retail, corporate, MSME, NRI and other customers. The bank offers different business loans to its customers.
Among many, we look at 5 business loans from Nainital Bank:
- Nainital Vyapar Suvidha for Traders
- Naini Nirman for Contractors
- Naini Health Care for Doctors
- Finance to Hoteliers
- Shiksha Prasar for Institutes
We give you a brief intro to the business loans below. In addition, you have the option to click further and read in detail about the loans in a specific page of their own. This specific page has been made specifically for you to get all the information you need on that loan in an uncluttered and easy-to-read format. If information is less or not available, we have been not been able to create an information page as yet, but we may do so in the course of the next few months.
Nainital Vyapar Suvidha for Traders
This loan helps businesses in the trade sector raise funds for their working capital and capital expenditure needs. The bank also offers non-funded facilities under this scheme such as Letter of Credit, Bank Guarantee, etc.
Features of the Nainital Vyapar Suvidha for Traders
Why this Loan?
- The Nainital Vyapar Suvidha for Traders can be availed for all projects and activities related to running businesses in the trade sector
- The maximum loan to be sanctioned is Rs. 2 crore subject to terms. The bank assesses the borrower’s profile carefully before deciding the loan amount to be sanctioned under this loan scheme
For more details on this loan, please click anywhere on this sentence to get to its specific page.
Nainital Bank Naini Nirman for Contractors
This loan scheme is specifically designed for contractors in the infrastructure sector to meet their working capital needs. The loan can also be availed for purchase of machinery, vehicle, land or building, etc. for business use.
Features of Naini Nirman for Contractors
Why this Loan?
- The Nainital Bank Naini Nirman for Contractors schemes are perfect for businesses in the infrastructure sector that need funds for business growth and expansion-related activities
- The loan amount sanctioned under this loan depends on the type of funded facility you choose. The maximum loan amount is Rs. 2 crore for Cash Credit, Rs. 1 crore for Term Loan and Rs. 1 crore for Bank Guarantee
Nainital Bank Naini Health Care for Doctors
This loan helps practicing doctors set up their own nursing home, clinic, blood bank, health centre or pathology centres. The loan can also be availed for the purchase of medical equipment, ambulance, computers, stock of medicine, etc.
Features of Naini Health Care for Doctors
Why this Loan?
- The Nainital Bank Naini Health Care for Doctors scheme help medical practitioners get funds to set up their own nursing home, clinic, health centre or pathology centres and related expenses
- Doctors practicing privately for over 2 years are eligible for this loan
- Business entities such as companies, societies or firms engaged in medical services if one of the directors, members or partners is qualified as a doctor can also avail this loan
Nainital Bank Finance to Hoteliers
This loan helps businesses finance their activities such as investment in current assets, purchase of raw materials, salary payments, power charges, etc. by pledging securities such as shares, mutual funds, insurance policies, etc. The bank offers a specific loan product viz. Digital Loan Against Mutual Funds under this loan scheme.
Features of Nainital Bank Finance to Hoteliers
Why this Loan?
- Nainital Bank Finance to Hoteliers can be availed by owners of hotels, guest houses, restaurants, lodges to meet the financial needs of repair, renovation or upkeeping of the property
- The maximum loan amount sanctioned by the bank is Rs. 5 lakh
- Borrowers can also be availed for purchase of assets related to the business
Nainital Bank Shiksha Prasar for Institute
This loan helps Registered Trusts, Societies and Companies in the Education sector raise funds for purchase of land to build an educational institute, purchase lab and other equipment, meet working capital needs, etc.
Features of Nainital Bank Shiksha Prasar for Institute
Why this Loan?
- The Nainital Bank Shiksha Prasar for Institute is meant for Registered Trusts, Societies and Companies imparting academic and/or professional education by establishing schools, colleges, etc. recognised by govt. authorities
- The maximum loan amount sanctioned under this loan scheme is Rs. 10 crore
Important Note: Even though the bank’s website has information available for few business loan schemes at this time, there is a possibility that the bank may offer more corporate loan options which are not yet published on the website. We suggest that you get in touch with the nearest branch to check the loan schemes they offer. This will also help you get a custom quote since many loan schemes are need-based and certain charges such as application charges, service charges, etc. may be decided on a case-to-case basis.
Interest Rate for Nainital Bank Business Loans
- The applicable interest rate for each loan defined as the sum of Base Rate of Nainital Bank and Strategic Premium where Strategic Premium depends on various factors such as type of business, quantum of loan, borrower’s profile, etc.
- For more information on the loans, click here to get to the bank’s interest rates page
Documents Needed for Individuals
- Loan Application Form duly filled and signed by the applicant and co-applicant, if any
- Two Passport Size Photographs of applicant and co-applicant
- Personal ID Proof: Aadhaar Card, PAN Card, Passport or Driving License. PAN Card/ PAN Card Issue Letter is must
- Signature Proof: PAN Card, Banker’s Verification, Driving License or Passport
- Residential Address Proof (Any One): Aadhaar Card, Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
- Income/Banking Proof: Last 6 months Bank Account Statement of applicant and co-applicant, Loan Statement of Running Loans, Latest Closed Loan NOC, Net Worth of the applicant and co-applicant
- Security (as applicable): Margin Money, Previous and Current Sales Deed, Plant and Machinery list, Plant and Machinery Current Valuation Report, Property Photographs, Previous Property Search and Valuation Report
- For term loans: Project report with details on product choice, market survey, projection of production and sales, infrastructural needs, etc.; projected cash and fund flow statement for the repayment period; and copies of all licenses and permits wherever applicable
Documents Needed for Proprietorship and Partnership Firms
- Loan Application Form duly filled and signed
- Partnership Deed and Partnership Registration Certificate
- ID Proof of the Firm: Firm PAN Card or PAN Issuing Letter
- Office Address Proof: Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
- Income Proof: CMA Data and Project Report, Debtors and Creditors Certificate, GST Return, Last 3 years ITR of applicant and co-applicant, Audited or CA Certified Computation of Income/Trading Account/Profit and Loss Account/Balance Sheet, Annual Audit Report and Tax Audit Report if audited, Form 16A if applicable, Net Worth of applicants, co-applicants and guarantors
- Banking Proof: Last 1-year Statement of Company’s Major Account, Current Account, Cash Credit Account, Overdraft Account, Loan Statement of Running Loans, Latest Closed Loan NOC and Last 6-months Bank Statement of Applicant and Co-applicant’s Savings Account
- Security (as applicable): Margin Money, Previous and Current Sales Deed, Plant and Machinery list, Plant and Machinery Current Valuation Report, Property Photographs, Previous Property Search and Valuation Report
- Other Relevant Documents: Partnership’s Business Profile, Promoter/Guarantor’s Profile, Corporate Brochure, Business Experience Supporting Documents, Business References
- For Term Loans Only: Project report with details on product choice, market survey, projection of production and sales, infrastructural needs, etc.; projected cash and fund flow statement for the repayment period; and copies of all licenses and permits wherever applicable
Documents Needed for Private Limited and Public Limited Companies
- Application Form duly filled and signed
- Company ID Proof: Company’s PAN Card
- Office Address Proof: Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
- Business Proof: AOA and MOA, Company Incorporation Certificate, Business Commencement Certificate, Board Resolution, CA/CS verified Share Holding Pattern, ROC Annual Return, DIN Certificate, List of Directors on Company Letter Head, GST Number, Form 32 in case of Director Change
- Income Proof: CMA Data and Project Report, Last 3 Years ITR Acknowledgement copy of Company and all Directors, Last 3 Years Annual Credit Report or Tax Audit Report with Article 3CB, Article 2D, Article 3CD, TDS Certificate/Form 16A, Net Worth Certificate
- Banking Proof: Last 1-year Statement of Company’s Major Account, Current Account, Cash Credit Account, Overdraft Account, Loan Statement of Running Loans, Latest Closed Loan NOC and Last 6-months Bank Statement of Applicant and Co-applicant’s Savings Account
- Security: Margin Money, Previous and Current Sales Deed, Plant and Machinery list, Plant and Machinery Current Valuation Report, Property Photographs, Previous Property Search and Valuation Report
- Other Relevant Documents: Company’s Business Profile, Promoter/Guarantor’s Profile, Corporate Brochure, Business Experience Supporting Documents, Business References
- For term loans only: Project report with details on product choice, market survey, projection of production and sales, infrastructural needs, etc.; projected cash and fund flow statement for the repayment period; and copies of all licenses and permits wherever applicable
Reference Facts:
- Nainital Bank Website: www.nainitalbank.co.in
- Headquarters: Nainital, Uttarakhand
- Branch Phone Number: +91 20 2401083 (Noida)