Top 7 NBFC Companies That Offer Personal Loans

Top 7 NBFC Companies That Offer Per...
Top 7 NBFC Companies That Offer Personal Loans

Personal loans are available from a variety of Indian NBFCs for people in need of quick cash for unplanned bills. Personal loans from NBFCs have a favorable interest rate range of 11% p.a. to 26% p.a.

You may get a loan for up to Rs.25 lakh or more, and the processing charge is usually between 2% and 3% of the total loan amount. Before applying for a personal plan, however, you should first shop around to see what options are available from other NBFCs.

We are covering the top 7 NBFC companies that offer personal loans.

List of Top 7 NBFC Companies

1. Au Small Finance Bank

Explore your passions and provide meaning to your life. You’ll put in more effort and accomplish more, whether your goal is to buy a house in the suburbs or to take a vacation to the Caribbean. Aspirations can only be realized with enough financial means.

That’s possible with a personal loan from Au Small Finance Bank. The minimum number of required papers for an Au Small Finance Bank personal loan is three.

Au Small Finance Bank offers a personal loan with a low-interest rate and a maximum amount of Rs. 7,500,000.

Loan amount Up To Rs. 7,50,000
Loan tenure 12 months – 60 months
Interest rate 9.75% to 18% p.a.
Processing fee Up To 2% of Loan Amount
Age 25 – 60 years 
Eligible For Salaried/ Self Employed/ Student 
Also Read: Instant personal loan online of Rs. 10 Lakh

2. Fullerton India

It might be challenging to select the best personal loan option. This is where Fullerton India comes in. They provide a variety of personal loans between 50,000 and 25 lakh.

Borrowers may acquire the most suitable loan for their situation and avoid any unexpected fees with the help of AI.

Fullerton India Personal Loan applications may be submitted online and approved quickly.

Interest rate11.99% per annum
Loan AmountUP to 25 Lakh
Minimum Cibil Score 750
Income RequiredRs. 12,000/month
Loan Tenure12 -60 months
Eligibility Age21- 60 years 
Eligible ForSelf-Employed / Salaried Person

3. Incred Personal Loan

Non-banking financial companies (NBFCs) like InCred allow customers to get personal loans of up to 15 lakh in India without having to set foot inside a traditional bank.

Incred offers quick personal loans with a minimum loan amount of 1 Lakh and a maximum loan amount of 15 Lakh.

Interest rate18% to 20% per annum
Loan Amount1 lakh  to 15 Lakh
Approval ProcessOnline
Monthly IncomeRs. 15,000
Loan Tenure60 months
Eligibility Age21 years to 56 years
Processing Fees2% to 5% + GST
Eligible ForSalaried Person / Self Employed

4. Indiabulls Dhani

Indiabulls’ Dhanis personal loan can help you receive the cash you need. It’s a common financing choice for those with high credit scores and little debt. Personal loans from Dhanis can be used to reduce monthly payments on existing debt.

This loan option is a convenient way for students, couples, or anyone in the middle of paying off their student loans to get the money they need.

Before applying for an Indiabulls Dhani Personal Loan, it is vital that you fully understand all of the terms and circumstances.

Loan amountRs. 1,000 – Rs. 15 Lakhs
Interest rateStarting from 13.99% per annum
Repayment tenureFrom 3 months – 24 months
Subscription feeRs. 125 – Rs. 1,500 
Processing Charges3% of Loan Amount
Prepayment chargesNil for loans below Rs. 20,000 & 5% thereafter
Also Read: How to get instant personal loan

5. Bharatpe Loan

The key to successful money management is opening a bank account that fits your specific demands. However, there are situations when a loan, in addition to a bank account, is required. Everything you need to know about getting a personal loan from Bharatpe can be found on this page.

So that you can make a well-informed choice about whether or not to apply, we’ll go through the specifics of the position, including the salary range and benefits offered.

Instant online approval for a Bharatpe loan of up to 7 lakh.

Interest rate21% to 30% p.a.
Loan AmountUp to 7 lakh
Approval ProcessOnline
Loan Tenure3 months to 15 months
Processing Fees0% to 2%
Eligible ForSalaried Person/ Self Employed

6. Stashfin Personal Loan

Personal loans from StashFin start at only Rs.1000 and go all the way up to Rs. 5 lakh, so you can take care of all your financial needs, big and little, without any difficulty. A StashFin Personal Loan is a short-term unsecured loan that may be used for anything from emergency expenses to long-term goals like debt consolidation or a big purchase.

Online application for a personal loan from Stashfin might yield a 5 Lakh loan in as little as 24 hours.

Interest rateStarting from 11.99% p.a.
Loan Amount1,000 to 5 lakh
Approval ProcessOnline
Income RequiredRs. 20,000 per month
Loan Tenure3 months to 36 months
Eligible Age18 years & above
Processing FeesUp to 10% of Loan
Eligible ForSalaried Persona & Self Employed

7. Navi Instant Personal Loan

Loans of up to 5 lakh rupees may be obtained digitally via Navi. After you provide the necessary Know Your Customer information, the loan proceeds will be sent into your bank account.

All of the steps involved in obtaining a Navi Instant Personal Loan may be completed online. This is a loan without collateral. To apply for a Navi quick loan, all you need are a few pieces of paper.

Interest rate12-30% per annum on reducing balance
Loan AmountFrom Rs. 10,000 to 5 lakh
Credit ScoreMinimum 650 or above
Approval ProcessOnline
Loan TenureFrom 3 to 60 months
Eligibility Age18 to 65 years
Processing Fees2.5% of Loan Amount + GST Charge
Who Can ApplySelf-Employed/ Salaried Person/ Student
Also Read: 3 Tips to improve personal loan Eligibility 

Benefits of NBFC Companies Personal Loan

NBFCs have enticing qualities that banks do not. For the reasons that follow, non-bank financial companies (NBFCs) should be your first choice when looking for a personal loan.

Quick Approval: The time it takes to have funds dispersed is cut much shorter and the approval procedure is streamlined when NBFCs use platforms powered by cutting-edge technology. The time it takes to get your cash from the time the verification is finished is minimal.

Minimum Documents: In order to secure a personal loan from a bank, you will constantly be swamped with documentation. When compared to traditional banks, NBFCs often do business online and provide paperless operations, drastically lowering the number of paperwork needed. Your Aadhaar card, PAN card, selfie, bank statement, and evidence of income or employment would be all that is required to apply for a loan.

Online Process: Lending has been modernized and reimagined thanks to the advent of NBFCs. Their prominence in the digital sphere is a major advantage. Applications are submitted and approved electronically by many of them. Get the money you need without leaving your house; there’s no need to go to a branch.

Pre-Approved Loan:  Non-bank financial companies (NBFCs) offer consumers a wide range of credit terms that have already been approved. This expedites the loan disbursement process by reducing the amount of time required to complete the application. Additional benefits of pre-approved loans include reasonable payback arrangements.

FAQs of NBFC Companies Personal Loan