Do you work with Infosys or TCS? Then you are an employee of a company belonging to the Priority group for banks. One of the mysterious facts is that some banks are part of this set of preferences, which they call listed companies. According to a recent report, major banks such as HDFC have about 33,000 companies listed, in some categories such as Super A, Cat A, Cat B, Cat C and Cat D. Computer giants like Infosys, TCS, Wipro, L & T, Cognizant, HCL, CapGemini, etc. fall under the category Super A.
The most effective feature of the decline in this group is that there is still a special offer for these clients offered by banks and NBFCs. Interest rates are relaxed or deviated for the employees of these companies. In addition, the eligibility of the loan amount is greater than that of the ordinary customer. These clients get an interest rate on their loan amount ranging from 11.99% to 15% depending on their profile. There are approximately 1,100 companies listed with HDFC, which are considered Super A and Cat A.
Other companies, called Cat B, Cat C or Cat D, also enjoy a good reputation with lenders because these employees also experience gaps depending on their profile. Their interest rate is in the range of 16% to 23%.
But if you are not so lucky to work in a publicly traded company, many doors open to you. NBFCs, such as Bajaj Finance or Fullerton India, lend money according to the customer's repayment capacity. If you work with an unlisted company, say Gaurav Enterprises and you have a salary of Rs. 80,000 per month and you need a loan of 10 Lakes; then you will not be eligible for the bank. The banks will consider you eligible for a loan amount of 80,000 euros because your company is not listed, but NBFC as Fullerton India will grant you a loan of up to 12 Lakes, depending on your profile and your ability reimbursement. Also Interest rate of personal loans can be as low as 17.25% with other features such as partial payment convenience or reduced processing fees.
In a nutshell, it is necessary to know your business category before applying for a loan because your interest rate and eligibility for the loan amount depend on your profile.