Housing Deposit Loan at 0% Interest

Hello Friends,

After getting done with ILP, you are required to report at your respective base location. Here we need to arrange our accommodation by ourselves from day .At first we prefer Paying Guest Accommodation, until and unless your office location is not fix at that point of time.

In case you want to move to a flat on rent, you need to have at least 20,000 to 40,000 (variable amount for different cities) to pay including your flat deposit,rent and other basic expenses.

On raising a request from TCS's portal, TCS provides housing deposit loan up to 30,000 on zero percent interest. The issued amount will be deducted from your upcoming month salary. This amount is repayable in maximum 12 installments, we can fix the EMI while raising the request.

Eligibility criteria for getting your request approved: -

1. You need to raise request before completing 6 months in TCS.

2. You need to upload Rent Agreement(Scanned copy in pdf format is preferrable) as proof within 5 days of raising request.

3. Printout of request raised (Printed copy is requires to be submitted to location HR).

4. A receipt document which says that you have received 'x' rupees as housing rental deposit loan from TCS, also specify your employee id and name at the bottom of the document. You will get the format of the document once you get in touch with your respective location HR (Printed copy is requires to be submitted to location HR). 

5. In some cases you may need to submit a photocopy of your agreement to your location HR. Communicate with your location HR regarding your request that you have raised.

You must be aware of your respective location HR. Ask your supervisor or RMG (in case you don't know). Approval will be initiated by your respective HR , then it is further approved by higher authorities.

The whole process takes nearly 5-7 working days after your HR has approved request. The amount will be credited in your salary account.

For example:- Suppose, you are 4 people living in a flat having 50,000 as deposit. So on the basis of 4 people, you will get 12,500 as housing deposit loan. This amount is automatically generated when you fill the fields number of people and deposit amount.

Don't submit any kind of false documents in order to get an amount for your personal expenses. In case of false documents, serious action can may be taken.

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