Personal Loan for Wipro employees

Working with one of the leading IT firms always comes with an added advantage. Well, here I am talking about Wipro, a company which is one of the most renowned IT firms. For it, the employees are its biggest asset, and the Wipro company has left no stone unturned to keep Wipro employees happy and maintain a healthy work culture. Did you know that Wipro is one of the top ten IT service company as per 2016 revenue report? Wipro 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, Wipro makes sure that its employees are satisfied and have a proper work-life balance.

Did you know that Wipro is the largest IT service company as per 2016 revenue report? Wipro 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, Wipro makes sure that its employees are satisfied and have a proper work-life balance.

Wipro employees benefits from loans schemes

Wipro employees enjoy special Personal Loan loan benefits which include

Personal Loan Interest Rates for Wipro employees

Bank Name Personal loan Interest Rates for Wipro Employees
Union Bank of India 13.40% per annum for salaried individuals.
Standard Chartered Bank Starts at 11.99% p.a.
Bajaj Finserv 11.49% per annum
DENA Bank
  • 13%
Bank of India 12.40% to 14.40% per annum
ICICI Bank 11.49% to 22.00% per annum
Canara Bank MCLR + 5.45% per annum
State Bank of India 12.50% to 16.60% per annum
United Bank of India 14.85%
IndusInd Bank 11.25% to 26.00% per annum
Kotak Mahindra Bank 11.5% to 24% per annum

Special companies offer special leverages to its employees. Wipro 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 Wipro employees need to fulfil to get a loan.

Personal Loan for Wipro Employees Documents –

  • Identity Proof – The Wipro 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 Wipro Employees Eligibility –

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

 

Particulars Eligibility Wipro 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 Wipro Employees – Extra Fees and Charges

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

Here are some of the fees that the Wipro 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.

Top banks in India for Personal loan for Wipro employees –
Bank or Financial Institution Name Interest Rate Processing Fees Loan Amount Tenure Pre-Closure Fees
TATA CAPITAL 10.99% – 25%

Fixed

NIL 20 Lac maximum 1-6 years 0
HDFC BANK 10.99% – 21.25%

Fixed

Up to 2.5%( Charged one time) 40 lac 1-5 years Pre-closure fee = 4% of principal outstanding (plus applicable tax) in 2nd year.
ICICI BANK 11.00% – 18.25%

Fixed

From .75% (min. ₹999 + applicable tax)

(Charged one time)

20 lac 1-5 years 5% of principal outstanding
Bank of Baroda 11.35% – 16.35%

Floating

1,000 to ₹10,000

(Charged one time)

1L – 10L 1-4 years Nil pre-closure fee after 6 months
Bank of Maharashtra 12.70%

Floating

1% (min. ₹1,000)

(Charged One Time)

1.5L Max 1-3 years
IDBI Bank 12.55%

Floating

1% + applicable tax

(Charged One Time)

50K – 10L 1-5 years Optional Pre-closure
YES BANK 14%Fixed NIL 20 lac maximum 1-5 years Conditional pre-closure only after 6 months
Axis BANK 15.50% to 24% 1.50% to 2.00% + GST as applicable Min. Rs. 50,000/Max. Rs. 15 lacs Up to 5 years NIL
SBI Personal Loans Scheme (SBI Saral Scheme): 8. 50% above Base Rate floating 2.02%-3.03% of the loan amount. 25 lac 5 years
Bajaj Finserv 13.99% to 18.00% Up to 2.25% of loan amount plus GST 1 lac-18 lac, the upper limit of personal loan can reach up to 25 lac based on applicant income 1-5 years

NIL

The lower of the two amounts given below: 1) 5% of principal outstanding or 2) Interest outstanding for the unexpired period of the loan.

Personal Loan for Wipro 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. 11,00o, 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 Wipro Employees Credit Score –

How to check whether you are eligible for loan or not. Well, whether you are working in Wipro 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 Wipro 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.