Nainital-Almora Kshetriya Gramin Bank (NAKGB) was established on 26th March, 1983. It is sponsored by Bank of Baroda. Presently the bank has over 58 branches across 4 districts of Uttarakhand, Udham Singh Nagar, Nainital, Bageshwar and Almora.
The bank aims to provide banking facilities in rural area and provide financial assistance particularly to small, marginal, landless labourers and other weaker sections. NAKGB is a joint venture of Government of India, Government of Uttarakhand and Bank of Baroda. NAKGB has its headquarters situated in Nainital.
Purpose: This loan provides finance against salary to the employees of various Government / Semi government Institutions to meet their personal expenses.
Eligibility: Permanent Employees working in the Institution like employees of various Govt. /Semi Govt. Institutions, since last 5 years are eligible for this loan. Total deductions from the salary including the installments of the proposed loan should be less than 60% of Gross salary.
Quantum of Loan: The maximum amount that is granted as loan is 10 times of gross monthly salary or Rs. 150000 whichever is lesser.
Security: This personal loan is granted against the salary of the applicant.