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for Tech Mahindra Employees

Personal Loan for Tech Mahindra employees

Working with one of the leading IT firms always comes with an added advantage. Well, here I am talking about Tech Mahindra, a company which is one of the most renowned IT firms. For it, the employees are its biggest asset, and the Tech Mahindra company has left no stone unturned to keep Tech Mahindra employees happy and maintain a healthy work culture. Did you know that Tech Mahindra is one of the top ten IT service company as per 2016 revenue report? Tech Mahindra has spread its wings in various areas like business consulting, pharma, aerospace, defence services and is now working in the area of Blockchain. Apart from offering innovative services and business solutions, Tech Mahindra makes sure that its employees are satisfied and have a proper work-life balance.

Tech Mahindra employees benefits from loans schemes
  • One of the biggest benefits Tech Mahindra employees have at Tech Mahindra is that they enjoy work-life balance which is not only reflected in their work culture but at the same time the company also provides them special leverages which add to the employee benefits. One such aspect is a personal loan.
Tech Mahindra employees enjoy special loan benefits which include
  • Lower personal loan rate for Tech Mahindra employees at 12.99% which is around 2% lesser than the normal market rate.
  • Easy repayment tenure for personal loan for Tech Mahindra employees. Loanyantra helps you in managing the repayments and closing the loan on time without paying a penny more.
  • Tech Mahindra employees can get finance ranging from 50 thousand to 20 lac Personal loan approval within 2 hours. Going through Loanyantra adds more benefits by reducing the interest rate even more and through cahback offers.
  • Lower interest rate who has a salary of Rs.75,000 or their net monthly income is in the similar range.
  • Tech Mahindra employees need not run through burdensome paperwork for sanction of loan, a minimal paper work needed and going through Loanyantra helps you with its doorstep facility which needs no roaming around banks.
  • ICICI bank offers a lower interest rate of 11.49% if the employee has a salary account with ICICI Bank.

Personal Loan Interest Rates for Tech Mahindra employees

Bank Name Rate of Interest Processing Fee
SBI 10.55% 1%
HDFC 10.75% Upto 2.50% Min Rs. 1,999
ICICI 11.25% Starting from 0.99%, Up to 2.25%
Bajaj Finserv 11.99% Starting from 1.50%, Up to 3%
Citibank 10.50% Upto 0.5%
IDFC First Bank 10.75% Upto 1.5%
Axis Bank 10.99% upto 1.75%
Tata Capital 10.99% Flat fee of Rs. 1499*, Upto 2.50%
Fullerton India 11.99% 2%
IndusInd Bank 11.00% Min 0.75% to Max 1.75%
Kotak Bank 10.75% Upto 2.5%
RBL Bank 13.99% Upto 2%
IIFL 12.99% 1 - 2%
HDB Financial 13.99% Upto 2% of loan amount
Andhra Bank 11.55% Case to Case
Yes Bank 10.99% Starting at 0.99%, Up to 2%
Muthoot 14.00% 2.5-3.5%
Standard Chartered Bank 10.99% 1.00%
Bank of Baroda 11.60% 2%, Min Rs. 250
Union Bank of India 12.70% 0.5%, Min Rs. 500
Canara Bank 13.00% 0.50%
Bank of Maharashtra 15.10% 1%, Min Rs. 1,000
IDBI Bank 13.20% 1%
Allahabad Bank 12.15% 1.06%, Min- Rs. 1068
Federal Bank 11.49% 0.5%, Min Rs. 500
Karur Vysya Bank 13.90% 0.40%
Syndicate Bank 13.40% 0.5%, Min Rs. 500
Corporation Bank 12.95% 1.5%, Min Rs. 500
12.00% 1.8% + taxes
Indian Overseas Bank 12.70% Rs. 204 per lakh
Indian Bank 11.05% 0.5%, Min- Rs. 508

Special companies offer special leverages to its employees. Tech Mahindra offers a seamless process of loan sanction and approval. There is a minimal paperwork and quick approval, but there is some basic criteria that the Tech Mahindra employees need to fulfil to get a loan.

Personal Loan for Tech Mahindra Employees Documents –
  • Identity Proof – The Tech Mahindra employee needs to produce Identity Card at the time of submission of documents. You can submit either Voter ID, Passport, Driving Licence or Aadhar Card.
  • Address Proof – Address proof can be of any type which shows your present address details like Passport , Electriciy Bills, Water bill, Rent Agreement or Ration Card. Address proof is important as there is a checking done before the loan sanction to confirm the address proof.
  • Income Proof– Salary Slip of last 3 months or Bank Statement of last 6 months. It is easy if you have a salary account with ICICI bank. Also Loanyantra’s expert is with you till your loan disbursement for any doubts and clarifications with your loan process.
  • Tax – Form 16 or last filed ITR
Personal loan for Tech Mahindra Employees Eligibility –

Eligibility criteria varies across lenders depending on the borrower’s profile and relationship with the bank. General requirements for Personal loan for Tech Mahindra Employees are outlined below:

Particulars Eligibility Tech Mahindra Employees Personal Loan
Age 23 years minimum to 58 years maximum
Income Rs.17,000 (Rs.25,000 for tier I cities)
Credit Score Above 750
Minimum Loan Amount Rs.75,000
Maximum Loan Amount Rs.20,00,000
Personal Loan for Tech Mahindra Employees – Extra Fees and Charges

The approval of the loan includes various kinds of fees which apply to everyone, even on the Tech Mahindra employees.

Here are some of the fees that the Tech Mahindra employees are subjected to pay :

  • Processing fees– This fees are usually charged by the banks to press your application. It may be a bit lower for the IT employees, but they are also subjected to pay processing fees. These fees depends on the loan amount.
  • Pre-Payment Charges: This amount is usually charged by the lender in case the borrowers wish to prepay the loan before the closings tenure.
  • Payment Delay Charges: This is the penalty which is charged from the people in case they are not able to pay the loan amount on time.
Personal Loan for Tech Mahindra Employees EMI Calculator –

EMI calculation is a must for everybody irrespective of how much you earn. It is important to calculate the EMI first for your loan and then to decide for yourself as to how much you can pay from your salary. Loanyantra has every calculator which show you a graphical representation about your EMI once you enter your details. This helps in making your decision clear w.r.t how many years, how much interest rate, how much EMI and which bank.

Even the minute discount in interest rate reduces the EMI and vice versa the minute increase in Your EMI will reduce the tenure of your loan.

For example, if you want a loan of 5 lakhs, the interest rate for personal loan is 11.5%, the tenure is 5 years, then the emi stands for 10,599.

Loanyantra’s Tip – Increase your EMI to Rs. 11,000, it reduces your tenure to 54 months from 60 months resulting in Rs.60,000 saving from paying to Bank. Become a customer and manage your loan through Loanyantra’s tips by the experts.

Personal Loan for Tech Mahindra Employees Credit Score –

How to check whether you are eligible for loan or not. Well, whether you are working in Tech Mahindra or no, banking and financial institutions have certain set parameters which one must fulfil to avail the personal loan. This involves complete documentation, falling in the eligibility criteria specified by the banks and finally the credit score.

A good credit score is a must for anyone to apply for a loan to get it approved. Credit score showcases your credit health and your financial position to repay the loan on time. Thus, it is always advisable that you must check the credit score before applying for personal or any other type of loan. The minimum credit score for a personal loan for Tech Mahindra employee is 750. Always check your credit score before applying for the loan. Otherwise, applying for loan and rejection from bank will again adds for bad credit score. If you have a bad credit score, pay your bills, insurance premiums and other EMIs on time for 6 months. Check the score after 6 months and for sure you find an improvement in your score. Apply for loan to experience a complete process.

Loanyantra’s Tip on Credit Score – Too many times checking your credit score also will reduce your credit score.

Loanyantra matches your credit and demographic profile to the lender’s criteria such that your application gets shortlisted in no time from the suitable lender. Loanyantra also does the pre-screening of the application as per the specifications of the bank.

So, if you are looking for a personal loan and are worried about the entire process, connect with Loanyantra for offers and the best advices ever and solutions. Our range of services covers all aspects of the loan process right from the application, finding the banks providing the lowest interest rate. We also help you with the preparation of entire documents that would be required at the time of loan application. Connect with us today for more information.