Non-Banking Financial Companies (NBFC) is a financial company that offers banking services that provide different types of loans (personal , education, business, and more) in India. They work as banks but are not actual banks. They are regulated by RBI.
The best NBFC depends on individuals' business needs (loan amount, tenure, type of business, creditworthiness, etc.). So, here are the top 10 NBFCs.:
Bajaj Finance Ltd.: Provides personal, consumer durable, and business loans.
Highlights: fast processing, wide product range.
Tata Capital Financial Services: Provides personal, home, business, and education loans.
Highlights: Flexible tenures and minimal documentation are required.
HDB Finance Services: Good for personal, business, and gold loans.
Highlights: Backed by HDFC Bank, so it's suitable for salaried & self-employed.
Muthoot Finance: Best for gold loans, but also provides loans for businesses.
Highlights: This is the largest gold loan provider, so you can easily rely on this.
Mahindra & Mahindra: Mainly famous for vehicle financing but also offers business loans. Highlights: Good for rural and semi-urban areas.
Shriram Finance Ltd.: Provides finances for commercial vehicles and small businesses.
Highlights: Good for small business.
L&T Finance: Provides financial solutions for small and medium enterprises, homes, and personal loans.
Highlights: Reliable brand name, faster approvals, and less paperwork.
Poonawalla Fincorp: Provides business loans, personal loans, and loans against property.
Highlights: Flexible Repayment Tenure, No Hidden Charges, Quick Approval.
Aditya Birla Finance: Provides diverse financial services, personal, SME, and loans against property.
Highlights: Decent interest rates, quick processing, and excellent customer service.
Sammaan Capital Ltd: It mainly focuses on house loans but also offers business and mortgage loans.
Highlights: Quick approval of your loans.
