Established in 1922, Nainital Bank Limited was objected towards catering the banking needs of the people of Nainital. In 1973, RBI (Reserve Bank of India) gave directions to Bank of Baroda to manage Nainital Bank Limited. Naini Sahyog is the personal loan product of Nainital Bank Limited. Under this scheme the bank lends personal loan to pensioners and salaried employees of the government departments as well as other institutions. As soon as any application is received by the bank, CIBIL score is drawn by the bank in order to check the credit history and reliability of the individual.
Professionals like doctors and Chartered Accountants are granted a loan equal to two times the average income of the last two years subject to a maximum of Rs.2 lakh.
For insurance agents loan amount equal to the average of commissions that they have received in the past two years can be granted subject to a maximum of Rs. 2 lakh.
For pensioners, personal loan to a maximum of 10 times the pension that is being credited can be granted, with an upper limit of Rs. 50,000.
For high income employees like Engineers, Doctors or Professors personal loan up to a maximum of Rs.5 lakh can be granted.