Best NBFCs for a Personal Loan in India 2020

Like leading banks (public and private), many NBFCs (Non-Banking Financial Companies) offer a personal loan at the competitive interest rate for borrowers who need urgent cash to meet their financial goals. As compared to banks, NBFCs have more flexible eligibility criteria. Here are the top NBFCS in India 2020

Tata Capital personal loan

Tata Capital is one of the leading NBFCs (Non-Banking Financial Companies) in India. It offers a personal loan with unmatched features and benefits for borrowers across the country. With Tata Capital, you can get a personal loan up to Rs. 25 lakhs for financial needs, such as marriage, education, home renovation, travel and medical expenses.

Key features of Tata Capital personal loan

Why should you get Tata Capital personal loan?

  • One of the lowest interest rates
  • Zero charges on part pre-payment
  • Overdraft facility
  • Multipurpose personal loan

Bajaj Finserv personal loan

Bajaj Finserv disburses an instant personal loan in just 24 hours. You can avail of a personal loan from Bajaj Finserv up to Rs. 25 lakh to fulfil your financial obligations such as home renovation, dream wedding, foreign vacation, and credit card bill payment. Bajaj Finserv personal loan interest rates are reasonable and applicable on a reducing balance.

Here are the key features of Bajaj Finserv personal loan:

Why should you get a personal loan from Bajaj Finserv?

  • Instant personal loan with minimal documentation
  • Pre-approved loan offers
  • Higher loan amount up to Rs. 25 lakhs without collateral
  • Flexible repayment tenure
  • Bajaj Finserv personal loan interest rates are reasonable

Mahindra Finance personal loan

Mahindra Finance offers an instant personal loan within 2 days of application. Any Mahindra Finance customer and employees of its subsidiary companies with a good repayment history can get a personal loan from Mahindra Finance.

Key features of Mahindra Finance personal loan:

Why should you get a personal loan from Mahindra Finance?

  • Instant approval and disbursal in 2 days
  • Hassle-free documentation with maximum flexibility
  • Easy EMI payment through ECS and cheque transfer

Fullerton India personal loan amount

Fullerton India offers a personal loan to salaried employees and self-employed individuals alike. Fullerton personal loans are available with more flexible eligibility criteria for a variety of purposes such as holiday, home improvement, medical emergency and a lot more.

Key features of Fullerton India personal loan:

Why should you get a personal loan from Fullerton India?

  • Maximum loan amount up to Rs. 25 lakh
  • Minimal documentation and quick disbursal
  • Additional benefits for existing customers
  • Flexible eligibility criteria

Aditya Birla Finance Limited (ABFL) personal loan

Aditya Birla Finance Limited (ABFL) offers a personal loan to the salaried professional with a good credit score. With ABFL, you can get a quick personal loan up to Rs. 15 with a reasonable interest rate for up to 36 months.

Key features of ABFL personal loan

Why should you get a personal loan from ABFL?

  • Flexible repayment tenure up to 60 months
  • Collateral free personal loan
  • Option to add a co-applicant to improve your eligibility
  • Existing customer of Aditya Birla Finance Group are exempt from the processing fee
  • Loan application process is completely online
  • Convenient repayment through ECS/ NACH

IIFL Finance personal loan

IIFL (India Infoline Housing Finance Limited) is one of the leading NBFCs in India. With IIFL, salaried employees and self-employed individuals can get a personal loan up to Rs. 25 lakh to cover their various expenses including home renovation, wedding, medical bills etc.

Key features of IIFL personal loan

Why should you get a personal loan from IIFL?

  • Minimal documentation
  • Loan amount up to Rs. 25 lakh
  • End-to-end online process with instant approval
  • Loan disbursal in 8 hours

HDB Financial Services personal loan

HDB Financial Services provides a personal loan for salaried individuals and self-employed professionals. Borrowers who need funds for a grand wedding, exotic vacation, big-ticket purchase and child’s education etc. can avail of HDB personal loans.

Key features of HDB Financial Services personal loan:

Age

For salaried: 21 to 60 years

For self-employed professionals: 22 to 65 years

Interest rate

Depends on customer’s eligibility

Loan tenure

12 months to 60 months

Loan amount

Up to Rs. 20 lakh

Why should you get a personal loan from HDB Financial Services?

  • Flexible loan tenure from 12 months to 60 months
  • Convenience of doorstep service
  • Attractive rate of interest
  • Special offer for employees of select companies

Shriram City Union Finance

Shriram City Union Finance offers personal loans to underprivileged customer segments that do not have easy access to short-term or medium-term loans in a financial emergency. Personal loans are available to its existing and old customers, as well as customers of Shriram Group. To get a personal loan, there should be no cheque bounce in the customer’s bank statement.

Key features of Shriram City Union Finance personal loan:

Why should you get a personal loan from Shriram City Union Finance?

  • Flexible loan tenure from 12 months to 36 months
  • Personal loan for poor and backward customers
  • Age criteria starting from as low as 18 years

These are the finest Non-Banking Financial Companies that offer a personal loan at a competitive interest rate and flexible eligibility criteria. Use a personal loan EMI calculator to compare rates and loan tenure.

Note: Interest rates are indicative in nature and the final interest rate will depend on an applicant’s eligibility.

Originally published at http://imagination.art.blog on December 20, 2019.

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I am a diligent and motivated self-worker with 3+ years of experience working in credit review and loan processing within the financial tech industry.

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Ajitsamal Afinoz

Ajitsamal Afinoz

I am a diligent and motivated self-worker with 3+ years of experience working in credit review and loan processing within the financial tech industry.

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