NBFC Personal Loan: Check the Top NBFCs Offering Personal Loans
A NBFC personal loan is a flexible financial solution offered by Non-Banking Financial Companies (NBFCs) that allows you to borrow money for various personal needs. Unlike traditional banks, NBFCs offer quick personal loans with fewer requirements and minimal paperwork. Whether you need funds for a medical emergency, home renovation, education, or even a vacation, NBFC personal loans are an ideal option.
At Impye, we partner with trusted NBFCs to provide you with the best personal loan options that suit your needs. With fast approvals and minimal documentation, NBFC personal loans are becoming a preferred choice for individuals looking for hassle-free loans.
- Minimal documentation
- Interest rates starting at 10.25%*
- Flexible tenure up to 5 years
- Loan amounts from ₹40 lakh to ₹1 crore
Your Application is recived.
1+ Million
Happy Customers
Rs. 250+ crore
Monthly Personal Loans Disbursal
Wide Range of 60+
Partner Banks & NBFCs
Support team 500+
Team Size of Experts
1+ Million
Happy Customers
Rs. 250+ crore
Monthly Personal Loans Disbursal
Wide Range of 60+
Partner Banks & NBFCs
Support team 500+
Team Size of Experts
Why Choose an NBFC Personal Loan?
- Faster processing times
- Easier approval for individuals with lower credit scores
- Flexible loan amounts and repayment tenures
What is an NBFC Personal Loan?
An NBFC personal loan is an unsecured loan provided by Non-Banking Financial Companies (NBFCs). While these institutions are not traditional banks, they are regulated by the Reserve Bank of India (RBI). NBFCs have more flexibility in lending policies, making it easier for individuals to secure loans.
Unlike banks, NBFCs are known for their faster loan processing and approval. These loans don’t require collateral, making them accessible to a broader range of borrowers, including those who may not qualify for bank loans due to strict eligibility criteria.
Key Features of NBFC Personal Loans:
- No collateral required
- Competitive interest rates
- Fast approval and disbursement
- Flexible repayment options
Choosing an NBFC personal loan gives you the flexibility and convenience to manage your financial needs with ease.
Benefits of Taking a Personal Loan from an NBFC
- Quick Processing and Approval: NBFCs are known for approving loans within 24 to 48 hours, making them perfect for urgent financial needs.
- Flexible Eligibility Criteria: Even if you have a lower credit score, you may still qualify for an NBFC personal loan.
- Tailored Loan Products: Many NBFCs offer personalized loan solutions based on your income, credit score, and financial situation.
- Minimal Documentation: NBFCs require less documentation compared to banks, speeding up the application process.
- Competitive Interest Rates: NBFCs often offer rates that can compete with those offered by traditional banks.
How to Apply for an NBFC Personal Loan
- Check Your Eligibility: Apply online at Impye.com and check your eligibility for fast loan disbursal within 3 hours.
- Fill Out the Application Form: Provide your basic details including name, contact information, and the loan amount required.
- Submit Documents: Submit essential documents such as identity proof, income proof, and address proof.
- Loan Approval and Disbursement: After reviewing your application, the loan is typically disbursed within 3 to 24 hours.
- Repayment: Repay the loan in easy monthly installments over your chosen tenure.
Applying for an NBFC personal loan through Impye ensures a smooth process with transparent terms and quick access to funds.
Eligibility Criteria for an NBFC Personal Loan
- Age: Applicants must be between 21 and 60 years old.
- Income: A minimum monthly income of ₹20,000 is required for salaried individuals.
- Credit Score: A credit score of 600 or above increases your chances of approval.
- Employment Stability: Salaried individuals must have at least 1 year of continuous employment.
- Residency: You must be an Indian citizen residing in the country.
Impye works with leading NBFCs to offer personal loans with flexible eligibility criteria that suit your financial profile.
Documents Required for an NBFC Personal Loan
- Identity Proof: PAN card, Aadhar card, Voter ID, or Passport.
- Address Proof: Utility bill, rental agreement, or any government-issued proof of address.
- Income Proof: Salary slips or bank statements for salaried individuals, and income tax returns for self-employed individuals.
- Bank Account Details: A canceled cheque or a recent bank statement.
By choosing Impye, you can enjoy a seamless and fully digital loan application process with all documents submitted online.
Interest Rates and Charges for NBFC Personal Loans
- Interest Rates: Rates typically range from 11.50% to 24% per annum.
- Processing Fee: A processing fee of 1% to 2% may apply.
- Prepayment Charges: NBFCs often allow prepayment after a lock-in period with minimal charges.
- Late Payment Fees: Late payment fees may range from 1.5% to 2% per month on the overdue amount.
Impye ensures you get transparent terms and minimal charges on your NBFC personal loan.
Top NBFCs For Personal Loan
| NBFC | Loan Amount | Interest Rate (approx) | Eligibility Criteria | Tenure | Processing Fees |
|---|---|---|---|---|---|
| Bajaj Finance Limited | ₹1 lakh to ₹25 lakh | 13% to 25% | Age: 23-55 years, Stable income, Indian resident, Salaried/self-employed | 12 to 60 months | 2% to 4% of the loan amount |
| Tata Capital Financial Services | ₹75,000 to ₹25 lakh | 10.99% to 18% | Age: 22-58 years, Salaried/self-employed, Min. income: ₹15,000/month | 12 to 72 months | Up to 2.75% of loan amount + taxes |
| Aditya Birla Finance Limited | ₹50,000 to ₹15 lakh | 14% to 26% | Age: 23-60 years, Salaried/self-employed, Min. income: ₹25,000/month | 12 to 60 months | Up to 2% of loan amount + taxes |
| L&T Finance Holdings | ₹50,000 to ₹7 lakh | 11.99% to 24% | Age: 23-58 years, Min. income: ₹12,000 (salaried)/₹2 lakh p.a. (self-employed) | 12 to 60 months | Up to 2% of loan amount |
| Mahindra Finance | ₹50,000 to ₹3 lakh | 14% to 24% | Age: 21-58 years, Income proof, Residential stability, Credit score >650 | 12 to 48 months | 1.5% to 2% of loan amount |
| Fullerton India Credit Company | ₹50,000 to ₹25 lakh | 11.99% to 26% | Age: 21-60 years, Salaried/self-employed, Min. income: ₹25,000/month | 12 to 60 months | Up to 6% of loan amount + taxes |
| HDB Financial Services | ₹50,000 to ₹20 lakh | 14% to 24% | Age: 22-60 years, Min. income: ₹15,000/month, Employment stability | 12 to 60 months | 1% to 2.5% of loan amount + taxes |
| Muthoot Finance | ₹50,000 to ₹10 lakh | 14% to 23% | Age: 23-60 years, Salaried/self-employed, Min. income ₹15,000/month | 12 to 48 months | Up to 2% of loan amount + taxes |
| Poonawalla Fincorp | ₹1 lakh to ₹30 lakh | 9.99% to 24% | Age: 22-58 years, Salaried/self-employed, Credit score >600 | 12 to 60 months | Up to 2% of loan amount |
| InCred | ₹50,000 to ₹10 lakh | 11% to 24% | Age: 21-60 years, Salaried/self-employed, Min. income: ₹20,000/month | 12 to 60 months | 1% to 2% of loan amount + taxes |
A NBFC personal loan offers flexibility, fast approvals, and competitive interest rates, making it a great option for individuals looking for financial support. At Impye, we help you find the best personal loan options from trusted NBFCs, ensuring you get the funds you need quickly and conveniently. Apply today and experience seamless loan processing.
