At a distance of 1.5 km from Tallital Bus Stand, Nainital Lake is a natural freshwater lake, situated amidst the main town of Nainital. Nainital Lake is one of the prime places to visit in Nainital town. The lake is most commonly represented to promote Nainital Tourism.

According to the history, this lake was built in 1839 by P. Barron at an altitude of 2,000 m. This is one of the four lakes of Kumaon hills, the other three lakes are Sattal Lake, Bhimtal Lake and Naukuchiyatal Lake. Nainital Lake is lunar-shaped and has an outlet at the southeastern end. The lake covers a perimeter of 2 miles with a depth varies from 6 m to 28 m. Northern part of the lake is called as Mallital while southern part known as Tallital. Balia Nala is the main feeder-stream of the lake. Other than this, 26 major drains, including the three perennial ones, feed it.