How borrower’s company may impact on a personal loan?

In today’s time, it is extremely easy to get cash from lenders to finance your emergencies. These loans provided are unsecured loans that do not require any collateral or security. This is also the reason that to ensure that the borrower does not default, the eligibility criteria are a little stringent.

While the eligibility criteria may vary for different lenders, some common points that all the lender’s personal loan requirements include are:

∙ Applicant must be a resident citizen of India.

∙ The age of the applicant must be between 21-60 years of age.

∙ The applicant must have a good credit history and a good credit score

∙ The income of the applicant must be more than Rs 20,000 per month.

∙ Must be able to present the salary slip of past 3 years.

∙ A valid employee ID card.

These are some criteria that are mentioned by each lender as the eligibility criteria. However, some hidden factors can help you in getting a loan sanctioned by Fullerton India online personal loan application. One of these factors is the Borrower’s company.

Let us learn how your company’s profile can impact your personal loan.

How your company can impact your personal loan

Most of the lenders offer instant loans or pre-approved loans to various applicants. This instant-loan is either due to your good credit history and more often than not it is due to the organization you are working in Employees of a reputed company are more likely to be offered such instant-loan service by lenders.

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The loan application of the applicant is assessed based on the applicant’s employer. For most of the banking institutions, the companies are divided into listed and non-listed categories. These categories are further differentiated into various sub-categories like

∙ Super A

∙ Category A

∙ Category B

∙ Category C

∙ Category D

∙ Silver

∙ Gold

∙ Platinum

∙ Diamond and so on.

For private employees, categorization is done on the reputation of the company. At the same time, a variety of deals are also offered to government employees and top-rated private and public companies who seek personal loans.

In the case of government employees, the lenders do not worry much as the loan offered is secured and guaranteed by the government.

Your organization will not only help you get a loan but will also help you get the personal loan at a lower interest rate. With a good company’s reputation, the lenders are open to negotiations as it reflects well in their company and the lender’s profile.

Why the borrower’s company matters?

As a personal loan is an unsecured loan, the risk is high and the chances of failure too are high. To ensure minimum risk and maximum profit, the lenders look for criteria through which they can ensure the individual has a stable and regular source of income.

The only way to do this is to check the individual’s income and the reputation of the company the persona is working in. The organization’s name indirectly acts as the security for the applicant.


If you do not work in a reputes company or are working in a start-up, do not worry. It does not mean that you are not eligible for a personal loan. Instead, you can work on other eligibility criteria to ensure you get the funds you require. All you need to do is look for lenders who do not mind you working in a smaller organization, and are also willing to offer you the loan amount that you want.

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In the end, your loan amount, application, and interest rate will be determined by the lender you choose to get the loan from. So, choose wisely and fund your emergencies without any worry.