Top NBFC for Personal Loan in India at Low-Interest Rates and Processing Fees

In today’s fast-growing and advanced world, we all have financial needs and emergencies. For a living or a better lifestyle people need cash and funds in their bank accounts. As we all are aware the world is growing so fast and so are our daily needs and requirements, whether it be your family, kids, loved ones, or yourself. Money is an essential part of modernization.

Yet, to fulfill these needs and demands of our modern lives we all need loans at some point in our lives. It is not always necessary to find a suitable bank or financial institution that can provide you with loans for financial emergencies and difficulties.

That’s why currently there is an increase and high demand for NBFCs (non-banking financial companies) to offer personal loans to people in need.

If you’re interested in loans, credit, annual percentage rates, and lending then you are in the right place. You will find a lot of options for non-banking financial companies this article must be helpful for you.

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How to Receive a Personal Loan?

In the early years or some years back looking for personal loans or lenders must be a difficult task for many applicants. Getting approval for loans is not easy and efficient back then. Considering if you are a beginner and getting a loan for the first time. For applicants trying to receive a loan, there are a lot of options available nowadays.

To know the terms and conditions of different banks, people can easily scroll online and get the info they need. As it becomes easier and quicker these days. You can find and choose NBFCs that provide personal loans and go for one that is suitable for your requirements. Applicants can always talk to a financial institution or loan desk of a bank.

Top NBFCs for Personal Loans in India:-

Here are the Top NBFCs for Personal Loan in India:-

Elara Capital LLP

Elara Capital LLP is counted as a subsidiary or a branch of the Corporation Bank. Elara Capital LLC is represented as a financial services organization and corporation bank that provides personal loan products to applicants. The second-best personal loan bank in India is regarded as Elara Capital. It is very popular among applicants who are trying and interested in getting a loan.

It offers loans starting from 2 lakhs to 25 crores. This bank has been considered a preferable lender for many applicants over the past few years and also provides good loan rates and services.

MINT Capital Partners Pvt. Ltd.

MINT Capital Partners Pvt. Ltd. is yet considered another most preferred personal loan bank in India. The organization was introduced in the year 2013 and it is located in Hyderabad. MINT Capital Partners Pvt. Ltd. is considered as a part of the MINT group. It is the most suitable and well-known bank for personal loans in India which ranks third.

MINT is a group that represents loans or financial services companies that provide a lot of financial services such as banking, insurance, mortgage services, and pension funds. If you are an interested applicant and wish to begin a loan application process alongside MINT, the candidate must go online and fill out their form. An agent from the bank will get in touch with you in no time and will help you out on how to get a personal loan.

Meesui Financial Services Pvt. Ltd.

Meesui Financial Services Pvt. Ltd. is yet another excellent personal loan bank in India. The organization was introduced and settled in 2008 and it is situated in Mumbai (city of dreams). It is considered the top-notch NBFC and personal loan bank in India, that offers personal loan services to applicants and customers. It offers loans from 2 lakhs to 5 crores.

Provogue Financial Services Pvt. Ltd.

Provogue Financial Services Pvt. Ltd. is also one that hits the top 5 list of best NBFCs offering personal loan services and products in India. It is also Mumbai-based and was introduced in 2015. It is popular for its best customer service and also stunning personal loan products.

It is also provided by honorable awards for its services for financial involvement in the nation. For young graduates and beginners, Provogue has issued the latest set of personal loan choices throughout the last few years.

Pure Loans Pvt. Ltd.

Pure Loans Pvt. Ltd. is also formerly known as Aneel Finance. It is also considered as the top NBFC offering home loan services and products. The firm was introduced in 2012 and it is located in Bangalore.

Yes Bank Limited

Yes Bank is also popular as an excellent personal loan providers in India. It is situated in Mumbai and settled in 1988. It is also a major part of SBI (State Bank of India), as you all are aware, the biggest and best bank in India. This bank provides a lot of personal loan services including car, house, and business loans for small business owners.

India Bulls

India Bulls is a growing and powerful NBFC in India, and it provides a variety of finance services and programs throughout the country. India Bulls offers loans to businesses and applicants for long-term funding and financial programs. Investors get the privilege and option to choose from a variety of financial services and products. Applicants who want a personal loan can easily include this bank in their priority list without any hesitation.

Characteristics of Personal Loan

• Interest rates are normally provided at 10.99% p.a. onwards
• Loan tenure is usually provided for five years
• For loan applications, no collateral security is needed
• The processing fee is usually up to 4%

Documents Needed to Apply for a Personal Loan

• Properly filled forms with passport-size photographs attached to it
• Identity proof which includes passport, voter ID, license, Aadhar card, PAN card
• It requires age proof too which includes a PAN Card, Aadhar card, SSC certificate, Birth certificate
• Bank account statements for nearly the last 6 months
• Salary slips for the previous 3 months
• Address Proof such as gas connection bills, Aadhar card, copy of ration card, license, voter ID, passport, and electricity bills

 

 

FAQs:

1. What is the minimum loan amount offered by Elara Capital LLP?
– Elara Capital LLP offers personal loans starting from 2 lakhs.

2. Where is MINT Capital Partners Pvt. Ltd. headquartered?
– MINT Capital Partners Pvt. Ltd. is headquartered in Hyderabad, India.

3. What is the loan range provided by Meesui Financial Services Pvt. Ltd.?
– Meesui Financial Services Pvt. Ltd. offers personal loans ranging from 2 lakhs to 5 crores.

4. When was Provogue Financial Services Pvt. Ltd. established?
– Provogue Financial Services Pvt. Ltd. was established in 2015.

5. Which city is Pure Loans Pvt. Ltd. located in?
– Pure Loans Pvt. Ltd. is located in Bangalore, India.

6. What is the interest rate range typically offered on personal loans?
– Interest rates on personal loans typically start from 10.99% p.a. onwards.

7. What is the usual tenure for personal loans?
– Personal loans are usually offered for a tenure of five years.

8. Is collateral security required for personal loan applications?
– No, collateral security is not typically required for personal loan applications.

9. What documents are needed to apply for a personal loan?
– Documents required include filled forms, identity proof, age proof, bank statements, salary slips, and address proof.

10. Is Yes Bank Limited affiliated with State Bank of India (SBI)?
– Yes, Yes Bank Limited is a part of SBI and offers various personal loan services.