Personal Loan
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To,TransUnion CIBIL Limited[Formerly known as Credit Information Bureau (India) Limited]One Indiabulls building ,Unit No 1901 – 1905,19th Floor, Tower 2A-2B, Jupiter Mill compound,Senapati Bapat Marg, Lower Parel, Mumbai 400 013
Sub: Grant of Consent
Dear Sirs,
In connection with submission of the application for my credit information offered by CIBIL (“Consumer Credit Information”) through Wishfin and delivery of the Consumer Credit Information to the Company, I hereby acknowledge and agree to the following:
- The Company is my lawfully appointed agent and he / it has agreed to be my agent for the purposes, including, without limitation, to receive the Consumer Credit Information from TUCL on my behalf and use it in the manner consistent with the Agreement entered into between the Company and TUCL, and the Company has granted its consent for being appointed for the aforesaid purpose.
- I grant my unconditional consent to the Company to receive the Consumer Credit Information from TUCL on my behalf and use it in the manner consistent with the consistent with the Agreement entered into between the Company and TUCL, as the case may be, and the Company has granted its consent for being appointed for the aforesaid purpose. I hereby represent and acknowledge that: (a) I have carefully read the terms and conditions of the Agreement entered into between the Company and TUCL understood the same; or (b) the Terms of Understanding in relation to the use of the Consumer Credit Information has been agreed between me and the Company.
- I hereby expressly grant unconditional consent to, and direct, TUCL to deliver and / or transfer my Consumer Credit Information to the Company on my behalf.
- I shall not hold TUCL responsible or liable for any loss, claim, liability, or damage of any kind resulting from, arising out of, or in any way related to: (a) delivery of my Consumer Credit Information to the Company ; (b) any use, modification or disclosure by the Company of the contents, in whole or in part, of my Consumer Credit Information , whether authorized or not; (c) any breach of confidentiality or privacy in relation to delivery of my Consumer Credit Information to the Company ; (d) for any use made by the Company which is contrary to the Agreement entered into between the Company and TUCL.
- I acknowledge and accept that: (a) TUCL has not made any promises or representations to me in order to induce me to provide my Consumer Credit Information or seek any consent or authorization in this regard; and (b) the implementation of the Agreement between TUCL and the Company is solely the responsibility of the Company
- I agree that I may be required to record my consent / provide instructions electronically and in all such cases I understand that by clicking on the "I Accept" button below, I am providing "written instructions" to Wishfin authorizing Wishfin to obtain my Consumer Credit Information from my personal credit profile from TransUnion CIBIL LIMITED, [formerly known as Credit Information Bureau (India) Limited]]. I further authorize Wishfin to obtain such information solely to confirm my identity and display my Consumer Credit Information to me. Further in all such cases “By checking this box and clicking on the ‘Authorize button, I agree to the terms and conditions, acknowledge receipt of TUCL privacy policy and agree to its terms, and confirm my authorization for Wishfin to obtain my Consumer Credit Information .
- I understand that in order to deliver the product to me, I hereby authorize Wishfin, to obtain my Consumer Credit Information from TUCL.
- By submitting this registration form, I understand that I am providing express written instructions for Wishfin to request and receive information about me from third parties, including but not limited to a copy of my consumer credit report and score from consumer reporting agencies, at any time for so long as I have an active Wishfin account. I further authorize Wishfin to retain a copy of my information for use in accordance with [Wishfin’s] Terms of Use and Privacy Policy.
- I UNDERSTAND THAT THE PRODUCT IS PROVIDED ON AN “AS-IS”, “AS AVAILABLE” BASIS AND TUCL EXPRESSLY DISCLAIMS ALL WARRANTIES, INCLUDING THE WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT.
- I shall not sue or otherwise make or present any demand or claim, and I irrevocably, unconditionally and entirely release, waive and forever discharge TUCL , its officers, directors, employees, agents, licensees, affiliates, successors and assigns, jointly and individually (hereinafter “Releasee”), from any and all manner of liabilities, claims, demands, losses, claims, suits, costs and expenses (including court costs and reasonable attorney fees) (“Losses”), whatsoever, in law or equity, whether known or unknown, which I ever had, now have, or in the future may have against the Releasee with respect to the submission of my Consumer Credit Information and / or my decision to provide TUCL L with the authority to deliver my Consumer Credit Information to the Wishfin . I agree to defend, indemnify, and hold harmless the Releasee from and against any and all Losses resulting from claims made against TUCL L by third parties arising from and in connection with this letter.
- I agree that the terms of this confirmation letter shall be governed by the laws of India and shall be subject to the exclusive jurisdiction of the courts located in Mumbai in regard to any dispute arising hereof. TUCL is entitled to assign its rights hereunder to any third person without taking my prior written consent.
Yours faithfully,
Name :____________________________Address : ____________________________Date : ____________________________
Nainital Bank, a subsidiary of Bank of Baroda, is a commercial bank established in 1922. The bank, with a plethora of custom products and services, aims to meet the requirements of different sets of customers with varied lifestyles. When you require a banking support to fulfill your personal needs, you can trust upon the personal loan of Nainital Bank, which charges minimum interest rates and charges for you to enjoy a cost-friendly loan journey. Looking forward to getting updated on Nainital Bank Personal Loan? Read the article further as it takes you through to the fine details of the bank’s offer.
Nainital Bank Personal Loan Interest Rates
Eligibility Criteria for Nainital Bank Personal Loan
- Permanent employees of Government Departments, Companies, Reputed Institutions.
- Field officers, agents of insurance firms on a condition that they are continuing the relationship with Nainital Bank for a minimum period of 6 months. Also their commission and other proceeds must get credited in the accounts
- Professionals like advocates, doctors, Chartered Accountants, etc.
Nainital Bank Personal Loan Eligibility Calculator
The eligibility calculator will tell you the exact loan amount receivable from Nainital Bank based on your income, savings and repayment capability. The calculator begins its operations by computing per lakh EMI based on the loan tenure and interest rate. All in readiness to calculate it? Read the example below.
Amount- ₹1,00,000
Loan Tenure-5 years
Rate of Interest-12% p.a.
Per Lakh EMI- ₹2,224
Assume you are an engineer in a Noida-based manufacturing firm and receiving a salary of ₹32,000. Out of the salary, you happen to save around ₹17,000. The bank will assume that a portion of the savings can be utilized towards the repayment through the EMIs. The calculation of eligible loan amount will be done by the bank as per the formula written below.
Personal Loan Amount Eligibility- ₹1,00,000 x savings/per lakh EMI
₹ 1,00,000 x 17,000/2,224= ₹7.64 lakhs
So, a personal loan of ₹7.64 lakhs is available for you to meet your purposes.
Nainital Bank Personal Loan EMI Calculator
Now that you are aware of the eligibility norms of the bank, it is also important for you to understand how the EMI Calculator actually calculates your loan EMIs. So if you are thinking how Nainital Bank calculates your EMI for a personal loan, go through this article further.
Well, this smart tool calculates your EMIs in a very easy and simple manner by taking into account your loan amount, interest rate and tenure of the loan.
Actually, the calculator computes the interest component first and then the principal amount that you will have to pay towards the personal loan.
For Example: Juhi Walia is looking for a loan of ₹2,00,000 from Nainital Bank for 5 years, and the bank is charging an interest rate of 12% per annum. , Now, the big concern here is the fact that she is worried about the EMI, total interest outgo and total amount payable from her pocket
Want to know the same, take a look at the table below
Table Showing EMI, Interest Outgo, and Total Repayment Amount
EMI, Total Interest Outgo, Total Repayment (Interest + Principal)
Year | Principal | Interest | Balance Amount |
---|
1 | ₹ 31,058 | ₹ 22,329 | ₹ 1,68,941 |
2 | ₹ 34,996 | ₹ 18,390 | ₹ 1,33,944 |
3 | ₹ 39,435 | ₹ 13,951 | ₹ 94,509 |
4 | ₹ 44,436 | ₹ 8950 | ₹ 50,072 |
5 | ₹ 50,116 | ₹ 3314 | ₹ 0 |
Documentation Checklist Needed
Features & Benefits
- Maximum Loan Amount
- Convenient Loan Repayment Options
- Both Residential and Commercial Property Accepted as Collateral
- Minimal Documentation and Faster Approvals
- Attractive Interest Rates