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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

141 Branches - 100% CBS/RTGS/NEFT Enable
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