{"id":9995,"date":"2020-06-12T07:45:40","date_gmt":"2020-06-12T07:45:40","guid":{"rendered":"\/blog\/?p=9995"},"modified":"2023-06-28T10:26:26","modified_gmt":"2023-06-28T10:26:26","slug":"how-can-your-employer-affect-your-personal-loan-eligibility","status":"publish","type":"post","link":"https:\/\/tata-blog.osian.dev\/blog\/personal-use-loan\/how-can-your-employer-affect-your-personal-loan-eligibility\/","title":{"rendered":"How can your employer affect your personal loan eligibility?"},"content":{"rendered":"\n

Personal loans do not require you\nto pledge any security to your lender. Hence, the loan providers do not have a\nbackup if you fail to repay your loan. This increases the risk factor for\nlenders, and they base their approval for your loan application on your\nrepayment capacity, as determined by your income, credit score, work history,\nand your employer\u2019s profile. <\/p>\n\n\n\n

Read on to find out how your employer can affect your\u00a0personal loan eligibility<\/a>\u00a0and how you can secure a loan while working for a small enterprise.<\/p>\n\n\n\n

Additional Reads: <\/strong>Will My\nPersonal Loan Eligibility Be Impacted During Lockdown?<\/a><\/p>\n\n\n\n

How do lenders categorize employers? <\/strong><\/p>\n\n\n\n

Loan-providing financial\ninstitutions segregate companies into listed and unlisted categories.\nAdditionally, lenders classify the organizations based on factors like the number\nof years they have been in business, the total number of employees, etc. Loan\nproviders consider reputed, stable, and consistently profit-making companies\nthat have been in operation for a long duration as top-tier employers.\nEmployees of such organizations typically enjoy lenient personal\nloan terms like lower interest rates, higher sanctions, and longer loan\ntenures.<\/p>\n\n\n\n

Why does your employer matter to the lender?<\/strong><\/p>\n\n\n\n

\"Why<\/figure>\n\n\n\n

Since your lender will not be\nable to auction your assets to recover losses if you default, your income and\njob security are vital to convincing them about your repayment ability. Your\njob security largely depends on where you work. <\/p>\n\n\n\n

A company with a low capital\ninvestment may fail to pay salaries regularly. In addition to this, such a\ncompany may shut down in the face of a financial crisis, leaving you jobless.\nIf you are working for a small and financially unstable company, your job\nsecurity will be considered low, and you will be deemed less\ncreditworthy. <\/p>\n\n\n\n

You may not obtain adequate loan sanctions or may have to pay higher\u00a0personal loan interest rates<\/a>\u00a0as compared to someone with a lower salary but working in a listed company.<\/p>\n\n\n\n

Conversely, if you work for a\nhigh net-worth company, you have assured continuity of employment. Your income\nis therefore stable, and the probability of your default is minimal. As a\nresult, you are more likely to secure an instant personal loan. Moreover,\ntop-rated organizations often have financial tie-ups with loan providers. As an\nemployee of such an organization, you can enjoy concessions on processing fees,\npreferential interest rates, relaxed norms on work experience, and other unique\nbenefits.<\/p>\n\n\n\n

How do\nyou secure a sizeable loan amount if you are working for a non-listed\ncompany? <\/p>\n\n\n\n

You have the option to apply\nfor personal loan from a non-banking financial organization (NBFC).\nAlthough a sound employer reputation still tips the scales in your favor, NBFCs\ntypically focus more on your income and credit history. If you are earning a\nhandsome salary and have maintained a good credit score, you can obtain a loan\non attractive terms regardless of your employer\u2019s status.<\/p>\n\n\n\n

Conclusion<\/strong><\/p>\n\n\n\n

Working for a large corporation\nmay prove to be beneficial while availing personal loans. However, several\nlenders offer loans to employees of smaller companies as well. <\/p>\n\n\n\n

You can consider Tata Capital for customized personal loans and zero charges on part prepayment. Apply for a personal loan online<\/a> and access funds whenever you face a shortfall.<\/p>\n\n\n\n

Additional Reads: <\/strong>Why Are More and More People Opting for Personal Loan After COVID 19?<\/a><\/p>\n\n\n\n

Apply Online<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

Personal loans do not require you to pledge any security to your lender. Hence, the loan providers do not have a backup if you fail to repay your loan. <\/p>\n

Read More<\/a><\/p>\n","protected":false},"author":1,"featured_media":9997,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[24],"tags":[],"class_list":["post-9995","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-personal-use-loan"],"yoast_head":"\nHow can your Employer affect your Personal Loan Eligibility - Tata Capital Blog<\/title>\n<meta name=\"description\" content=\"Read on to find out how your employer can affect your\u00a0personal loan eligibility\u00a0and how you can secure a loan while working for a small enterprise. Click for details!\" \/>\n<meta name=\"robots\" content=\"noindex, nofollow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How can your Employer affect your Personal Loan Eligibility - Tata Capital Blog\" \/>\n<meta property=\"og:description\" content=\"Read on to find out how your employer can affect your\u00a0personal loan eligibility\u00a0and how you can secure a loan while working for a small enterprise. Click for details!\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.tatacapital.com\/blog\/personal-use-loan\/how-can-your-employer-affect-your-personal-loan-eligibility\/\" \/>\n<meta property=\"og:site_name\" content=\"TATA Capital Blog\" \/>\n<meta property=\"article:published_time\" content=\"2020-06-12T07:45:40+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-06-28T10:26:26+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.tatacapital.com\/blog\/wp-content\/uploads\/2020\/06\/how-can-your-employer-affect-your-personal-loan-eligibility-1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"770\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tata Capital\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tata Capital\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.tatacapital.com\/blog\/personal-use-loan\/how-can-your-employer-affect-your-personal-loan-eligibility\/\",\"url\":\"https:\/\/www.tatacapital.com\/blog\/personal-use-loan\/how-can-your-employer-affect-your-personal-loan-eligibility\/\",\"name\":\"How can your Employer affect your Personal Loan Eligibility - Tata Capital Blog\",\"isPartOf\":{\"@id\":\"https:\/\/www.tatacapital.com\/blog\/#website\"},\"datePublished\":\"2020-06-12T07:45:40+00:00\",\"dateModified\":\"2023-06-28T10:26:26+00:00\",\"author\":{\"@id\":\"https:\/\/www.tatacapital.com\/blog\/#\/schema\/person\/5ccf99347b9365e2fa68bd32006d0b4a\"},\"description\":\"Read on to find out how your employer can affect your\u00a0personal loan eligibility\u00a0and how you can secure a loan while working for a small enterprise. Click for details!\",\"breadcrumb\":{\"@id\":\"https:\/\/www.tatacapital.com\/blog\/personal-use-loan\/how-can-your-employer-affect-your-personal-loan-eligibility\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.tatacapital.com\/blog\/personal-use-loan\/how-can-your-employer-affect-your-personal-loan-eligibility\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.tatacapital.com\/blog\/personal-use-loan\/how-can-your-employer-affect-your-personal-loan-eligibility\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.tatacapital.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"How can your employer affect your personal loan eligibility?\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.tatacapital.com\/blog\/#website\",\"url\":\"https:\/\/www.tatacapital.com\/blog\/\",\"name\":\"TATA Capital Blog\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.tatacapital.com\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.tatacapital.com\/blog\/#\/schema\/person\/5ccf99347b9365e2fa68bd32006d0b4a\",\"name\":\"Tata Capital\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.tatacapital.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/a6a38ea7397ec3ff4a8dc9b854558dbfc2d1c417498effd79c6186d3edf6ae28?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/a6a38ea7397ec3ff4a8dc9b854558dbfc2d1c417498effd79c6186d3edf6ae28?s=96&d=mm&r=g\",\"caption\":\"Tata Capital\"},\"sameAs\":[\"https:\/\/tata-blog.osian.dev\/blog\"],\"url\":\"https:\/\/tata-blog.osian.dev\/blog\/author\/admin\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"How can your Employer affect your Personal Loan Eligibility - Tata Capital Blog","description":"Read on to find out how your employer can affect your\u00a0personal loan eligibility\u00a0and how you can secure a loan while working for a small enterprise. Click for details!","robots":{"index":"noindex","follow":"nofollow"},"og_locale":"en_US","og_type":"article","og_title":"How can your Employer affect your Personal Loan Eligibility - Tata Capital Blog","og_description":"Read on to find out how your employer can affect your\u00a0personal loan eligibility\u00a0and how you can secure a loan while working for a small enterprise. Click for details!","og_url":"https:\/\/www.tatacapital.com\/blog\/personal-use-loan\/how-can-your-employer-affect-your-personal-loan-eligibility\/","og_site_name":"TATA Capital Blog","article_published_time":"2020-06-12T07:45:40+00:00","article_modified_time":"2023-06-28T10:26:26+00:00","og_image":[{"width":770,"height":400,"url":"https:\/\/www.tatacapital.com\/blog\/wp-content\/uploads\/2020\/06\/how-can-your-employer-affect-your-personal-loan-eligibility-1.jpg","type":"image\/jpeg"}],"author":"Tata Capital","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Tata Capital","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.tatacapital.com\/blog\/personal-use-loan\/how-can-your-employer-affect-your-personal-loan-eligibility\/","url":"https:\/\/www.tatacapital.com\/blog\/personal-use-loan\/how-can-your-employer-affect-your-personal-loan-eligibility\/","name":"How can your Employer affect your Personal Loan Eligibility - Tata Capital Blog","isPartOf":{"@id":"https:\/\/www.tatacapital.com\/blog\/#website"},"datePublished":"2020-06-12T07:45:40+00:00","dateModified":"2023-06-28T10:26:26+00:00","author":{"@id":"https:\/\/www.tatacapital.com\/blog\/#\/schema\/person\/5ccf99347b9365e2fa68bd32006d0b4a"},"description":"Read on to find out how your employer can affect your\u00a0personal loan eligibility\u00a0and how you can secure a loan while working for a small enterprise. Click for details!","breadcrumb":{"@id":"https:\/\/www.tatacapital.com\/blog\/personal-use-loan\/how-can-your-employer-affect-your-personal-loan-eligibility\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.tatacapital.com\/blog\/personal-use-loan\/how-can-your-employer-affect-your-personal-loan-eligibility\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.tatacapital.com\/blog\/personal-use-loan\/how-can-your-employer-affect-your-personal-loan-eligibility\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.tatacapital.com\/blog\/"},{"@type":"ListItem","position":2,"name":"How can your employer affect your personal loan eligibility?"}]},{"@type":"WebSite","@id":"https:\/\/www.tatacapital.com\/blog\/#website","url":"https:\/\/www.tatacapital.com\/blog\/","name":"TATA Capital Blog","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.tatacapital.com\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.tatacapital.com\/blog\/#\/schema\/person\/5ccf99347b9365e2fa68bd32006d0b4a","name":"Tata Capital","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.tatacapital.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/a6a38ea7397ec3ff4a8dc9b854558dbfc2d1c417498effd79c6186d3edf6ae28?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/a6a38ea7397ec3ff4a8dc9b854558dbfc2d1c417498effd79c6186d3edf6ae28?s=96&d=mm&r=g","caption":"Tata Capital"},"sameAs":["https:\/\/tata-blog.osian.dev\/blog"],"url":"https:\/\/tata-blog.osian.dev\/blog\/author\/admin\/"}]}},"featured_image_url":"https:\/\/tata-blog.osian.dev\/blog\/wp-content\/uploads\/2020\/06\/how-can-your-employer-affect-your-personal-loan-eligibility-1.jpg","_links":{"self":[{"href":"https:\/\/tata-blog.osian.dev\/blog\/wp-json\/wp\/v2\/posts\/9995","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tata-blog.osian.dev\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tata-blog.osian.dev\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tata-blog.osian.dev\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tata-blog.osian.dev\/blog\/wp-json\/wp\/v2\/comments?post=9995"}],"version-history":[{"count":3,"href":"https:\/\/tata-blog.osian.dev\/blog\/wp-json\/wp\/v2\/posts\/9995\/revisions"}],"predecessor-version":[{"id":34554,"href":"https:\/\/tata-blog.osian.dev\/blog\/wp-json\/wp\/v2\/posts\/9995\/revisions\/34554"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tata-blog.osian.dev\/blog\/wp-json\/wp\/v2\/media\/9997"}],"wp:attachment":[{"href":"https:\/\/tata-blog.osian.dev\/blog\/wp-json\/wp\/v2\/media?parent=9995"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tata-blog.osian.dev\/blog\/wp-json\/wp\/v2\/categories?post=9995"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tata-blog.osian.dev\/blog\/wp-json\/wp\/v2\/tags?post=9995"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}