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  • Our Chairman & CEO Mr. Dinesh Pant has been elevated to TEG Grade / Scale VII in the rank of General Manager in Bank of Baroda w.e.f.

  • Bank has reduced its MCLR by 30 basic points (bps), now MCLR for one year is

  • Bank has reduced NRLLR by 75 basic points(bps), now NRLLR is

  • Bank has launched COVID Emergency Credit Line (NCECL) loan scheme to provide liquidity support to borrowers impacted by COVID-19

  • Bank has formulated Naini Kissan Credit Card (NKCC) scheme for meeting working capital requirements for animal husbandry and fisheries activities to help the

  • Bank has also revised its SEED POLICY for credit facilities to seed processing units for FY-2020-21 wherein interest rate has been linked with CMR rating and collateral

  • Mr. Dinesh Pant, Chairman & CEO, Nainital Bank donated his ONE month salary to "PM CARES" for COVID 19 outbreak

  • Nainital Bank is contributing Rs. 11.00 lakh (Rs. Eleven lakh only) for Chief Minister Relief Fund under CSR for COVID 19 outbreak victims. new

  • Employees of Nainital Bank contributed Rs. 14.20 lakh (Rs. Fourteen lakh twenty thousand only ) for "PM CARES" for COVID 19 outbreak

  • Bank has opens its 141st Branch at Canal Road, Dehradun .new

  • 97th Annual General Meeting of Nainital Bank held on 20th September 2019, at Nainital
    -Click here for Press Releasenew

  • Launch Of New SB Scheme –Naini Mahila Samrudhi Savings Bank Accountnew
  • Declaration of Result of Online Examination for Recruitment of Officers and Clerks held on August 24 & 25, 2019new

  • Notice for Shareholdersnew

  • Bank sponsored children's football team tournament on 15th August, 2019 where our Chairman & CEO Sh. Dinesh Pant was Chief Guestnew

  • Bank has reduced its interest rates on various Retail products:
    Now Home Loan is available @ 8.40% p.a.
    Car Loan @ 8.80% p.a.
    Education Loan @ 9.60% p.a.
    Personal Loan @ 11.40% p.a.
    Loan to Govt. Contractors @ 9.20%

  • Bank celebrated it's 98th foundation day on 31st July, 2019 with gaiety and enthusiasmnew

  • Waiver of processing, documentation & other charges applicable to "Apna Asiana” and “Suhana Safar” up to 30.09.2019. new

145 Branches - 100% CBS/RTGS/NEFT Enable
Home > Business Banking > Shiksha Prasar for Institute
Shiksha Prasar for Institute
Eligibility :

All Registered Trusts/Societies/Companies imparting academic/professional education by establishing Schools/ Colleges and other educational/professional institutions affiliated with any of the recognized Boards of Central/State Governments/competent Authority/University etc. and Schools up-to class VIII.

Purpose :
  • For construction of School/College/Institute building, boundary wall, hostel, staff quarters, laboratory, indoor/outdoor sports court/ground, construction of swimming pool etc.
  • For purchase of constructed buildings for the activity.
  • To purchase laboratory & other equipments, furniture-fixtures, Library books, computers for lab, sports goods, vehicles, and medicines for School/College/Institute dispensary, D.G. sets and also to establish Gym etc.
  • To purchase additional land for expanding building, playgrounds and other related activities.
  • To takeover existing credit facilities from other Banks/financial institutions provided the accounts are regular and in standard category.
  • To meet other running expenses of school/college/ institution, pending receipt of fee/charges from students.
  • To meet other expenses of repair, renovation, upkeep and maintenance of the building etc. of the school/college/institute subject to maximum amount of loan upto Rs.50.00 lacs or 25% of value of land, building and other fixed assets of school/college/institute, whichever is less.
  • For purchase of new vehicles (Four wheelers) linked to the activity.
Nature & Amount Of Facility :

Demand /Term Loan / Overdraft : Maximum Rs.1000.00lac. However OD facility to be restricted within Rs.100.00lacs and should not exceed 50% of fee collection of the previous year or expected fee collection of the current year as the case may be.
Financing for vehicles to the existing borrowers having satisfactory track record may be considered even without collateral security by the authorities under their respective DLP. However in such cases the minimum margin should be 25% (strictly) and the exposure to the borrower including the proposed facility should be within the ceiling of loan amount.
Bank Guarantee : As per requirement of the borrower.

Margin :

Demand / Term Loan : 35% of cost of construction.
25% of cost of other assets i.e. furniture-fixtures, D.G. Set, computers, lab equipments, library books etc. to be acquired.
Overdraft : NIL.
Bank Guarantee : Minimum as per delegated power.

Rate Of Interest :

For Demand / term loan : Base rate + 4.00 % with monthly rests.
For Overdrafts : Base rate +5.00% with monthly rests.
For Bank Guarantee : Commission as per Bank’s rule.

Application for Financial Accommodations