Are you in TCS or Cognizant or any other IT giant? If yes, then you are the fortunate one, not in terms of recognition and fame, but with respect to the Financial Services Industry. Research shows that banks prefer employees from the top IT and pharmaceuticals companies to lend money as they are considered as Hot Leads for banks and NBFCs. So if you are from the MNCs of utmost importance, your rate of interest can be as low as 13% from the Topmost Private banks like HDFC, ICICI, Axis, Citibank, etc.




Here is the chapter and the verse behind the scene according to a survey conducted by Dialabank on HDFC bank after the statistics of Bloomberg, which ranked it 45th globally, with a market capitalization of $39 billion.

Insights tell that HDFC has about 33,004 Companies as Listed companies with it in Categories such as Super A, Cat A, Cat B, Cat C and Cat D. The advantage of being a listed company is that the employee becomes eligible to get a Loan from HDFC even if the Salary is as low as Rs. 15,000 per Month. But the episode turns around with the other evidence which states that out of these listed companies, only 1100 company employees enjoy special offers from banks which are grouped into Super A and Cat A. Moreover, only 50 of these 1100 listed companies have the supremacy of the rate of interest to be as low as 13% which is not offered by any other bank in the country. The Super Special catalogue comprise of jobholders of TCS, Cognizant, HCL, Capgemini, Oracle, JP Morgan, Accenture, Wipro, and Infosys with an earmarked ROI to be 13.49%. These customers also get a relaxation in the Processing Fee if their Salary is greater than Rs. 50,000 per Month. Not only these have IT Hercules, but many of the other Pharmaceuticals Firms like Abbot, Alembic, Aurobindo Pharma, Aventis, Bayer, Biocon, Cadila, Cipla, Reddy, Gland, Glaxo India, Glenmark, Intas, Lupin, Pfizer, Piramal, Ranbaxy, Sun Pharma, Torrent, Troika and Watson hirelings also enjoy the Red-Letters of banks with out of the ordinary schemes including greater Funding and less Personal Loan Interest Rates and also the accessories like discounts in the Processing Fees.

So, if you are working for the stars in the corporate sky, then you are like the glitters for the lenders.

On the flip side of the coin, if your company is not listed with the banks, there are no worries. Although, may be, you are not eligible for banks but there are other helping hands for you. NBFCs such as Bajaj or Fullerton India will provide you funds on the basis of your Repayment Ability. And if you are the lucky one, your Rate of Interest will be 17.25% if you have a Monthly Income of more than Rs. 50,000, when the other banks might not consider you eligible for the loan or may provide you a loan on the higher interest rate of more than 22%.

In a nutshell, it is vital to know your company category and apply conveniently to the banks or the NBFCs for a profitable deal. Banks usually provide less loan amount than the NBFCs on the same profile even if the company is listed, but the difference will lie in more Interest Rate from the NBFCs. So, the salaried people must always keep in mind the two contrasting factors, namely, loan amount and Interest Rate, which vary not only with your profile but also with the portrait of your workplace.

It is difficult to know your company category. Dialabank will help you to get the Best Loan Offer according to your Company Category. Apply Online and get aware about your Company Category and your Loan Eligibility. Get an unbiased advice from our Loan Experts.