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  • 96th Annual General Meeting will be held on Tuesday, the 31st day of July, 2018 at 10:00 A.M Click here for more detail new

  • Bank has opened its 138th Branch at Dineshpur – Rudrapur and 139th Branch at Nanakmatta – Sitarganj. new

  • Inviting applications for Appointment of Practicing Company Secretary Firm for carrying out Secretarial Audit Functions in The Nainital Bank Limited. Click here for details
    last date April 30, 2018new

  • Bank has opened its 136th Branch at Shimla Pistore, Rudrapur and 137th Branch at Satwan Bujurg, Shahjahanpur. new

  • Bank invites application for Empanelment of Hardware & Software Vendors.– Click here for details...

  • The Naini Business Center ,Regional Office-Delhi and Naini Loan Point-Delhi has been functional w.e.f. 21st October 2017 at 4th Floor,C-20/1A, UPRNN Building, Sector-62 Noida, District-Gautam Budh Nagar, Uttar Pradesh. new

  • Exercise for recruitment of Management Trainees.-new

  • MOU signed between The Nainital Bank Limited and Future Generali India Insurance Company Limited on 05/06/2017new

  • MOU signed between Nainital Bank & India First Life Insurancenew

  • Bank has opened its specialized Loan Processing Centre "Naini Loan Point" at Lucknow, New Delhi, Dehradun, Haldwani and

  • Application for converting existing saving account to PMJDY( Basic Saving Bank Deposit ) Account. – Click here for download

  • Bank conferred with Excellence Award for excellent performance under Pradhan Mantri Jan Dhan Yojna(PMJDY).

  • Notice for the customers regarding CTS-2010 Standard Cheque Forms. Click here…

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Home > Business Banking > Naini Nirman for Contractors
Naini Nirman for Contractors
Eligibility Criteria :
  • All Individual, Firm, Company, Regd. Society, engaged in undertaking construction or any other type of work as contractor for lawful activity i.e., construction in infrastructure project, Housing/Building, Rail Roads Projects and any other sector of economy etc.
  • The prospective borrower/s must be an income tax assessee/ payee for last three financial years (Return should not be filed in a bunch).
  • The borrower should not be a defaulter of any bank/financial institutions/others.
  • The borrower should be permanent resident of the area/nearby area of branch and should have satisfactory social and economic status.
Purpose :

For Meeting working capital requirement, purchase of machinery, vehicle (loader, JCB etc. required for the activity) etc., construction/furnishing of Office building and Furnishing bank guarantee

Nature & Amount Of Facility :

Aggregate Credit Facilities Rs.200.00 lacs

Cash Credit (H) : Maximum Rs.200.00 lacs
Loan : Maximum Rs.100.00 lacs (Max.Rs.10.00 lacs for construction/renovation/furnishing of self owned Office building.
Bank Guarantee : Maximum Rs.100.00 lacs.

In case of Individual/s*

Five times of average of last 3 years returned income. However deductions/rebates under I.T.Act which don’t effect cash accruals may be considered for assessing permissible amount. Income of spouse may be included for assessing permissible amount if she/he is also income tax payee for last three years. In that case he/she should stand as co-borrower.

Firm / Company / Others**

Five times of average of last 3 years cash accruals i.e. Net profit after tax plus depreciation.

*In case of individual/s the total deductions/other repayment obligations including interest burden on proposed facility should not exceed 60% of gross total income as per I.T.Return.

**Gross total income of partners may be included for ascertaining eligible amount of advance. Or 20% of the amount of actual contract receipts/executed /contracts awarded in hand to be executed Whichever is less.

Loan : Maximum Rs.100.00lac

In case of loan projections for total repayment period should be obtained and DSCR should be as per LPD of the bank.

Bank Guarantee : Maximum Rs.100.00lac

Application for Financial Accommodations