The HDFC Bank issues a List of Companies for the sourcing of Personal Loans and readily provides Personal Loans to applicants employed with such entities. The grading of Companies is according to their profile, turnover, and stability. HDFC Bank continuously refreshes and updates the Company List.
Customers Employed with companies approved and listed with the Bank are offered Personal Loans on a priority basis with enhanced terms and conditions. The Employer plays a significant role in processing a Personal Loan the Bank evaluates the Employer's profile to confirm the validity and profitability of the organization.
A Listed Company registered on the stock exchange to trade stocks and bonds by the public, which can hold shares in the Company. A Non-Listed Company is privately owned by its owners.
Non-Listed Companies follow guidelines as laid by the government listed companies follow the guidelines of SEBI (Securities and Exchange Board of India).
HDFC Bank has an exhaustive list of companies for funding Personal Loans. Companies featured in this list basis the performance and turnover.
The Bank HDFC Company List For Personal Loan Includes:
HDFC Bank Provides Personal Loans To Employees of Companies in The HDFC Company Category List.
An Applicant working in a Non-Listed Company can submit a request to add an Employer to the Company List. A form with details of the Company Profile, such as the Turnover, Number of Employees, and Offices, is submitted for consideration. If the request is approved, the Company features the list of approved companies for sourcing Personal Loans.
If the stocks of a Company fall below the required margin, the profile has become risky due to market conditions the sourcing from that Company is restricted. For example, the hospitality and travel industry faced losses during the COVID lockdown. As a result, airlines and Hotels could not pay salaries on time and laid off Employees due to the loss of business therefore, sourcing from these organizations was put on hold.
HDFC Bank declares a company negative or not approved for sourcing Personal Loans if there is a large percentage of default by employees not paying their Loan instalments or if the organization is involved in unlawful or nefarious activities.
The Top companies and Major entities are familiar to the company list for most Leading Banks. However, the category may differ per the Banks process, giving preference to corporates with salary accounts in the Bank.
The HDFC listed Companies for loan are categorized as Super A, A, B, C, and D.
The terms, loan amount, and interest applied as per the company hierarchy for example, a customer employed with a Super A category organization is eligible for a loan amount of up to ₹ 40 Lakhs, whereas an applicant working with a Cat D company, will not be awarded the same amount.
|Super A||30k||18 months||50k||27 months|
|Cat B||30k||18 months||50k||20 months|
|Cat C||35k||18 months||50k||20 months|
|Cat D||50k||7 months||75k||15 months|
HDFC Bank Does not fund Personal Loans to employees of Partnership and Proprietorship Companies.