In today’s fast-paced world, we all need cash to tide over financial emergencies. However, it is not always convenient to come across a bank that can lend you money for an emergency. That’s why there has been a rise in the number of non-banking financial companies (NBFCs) lending personal loans these days.
If you are wondering how to get a personal loan and where to look for the options, this article will be of help to you.
How to Get a Personal Loan?
A few years back, finding lenders and getting approval for a loan was difficult, especially if you were a first-time borrower. However, there are many options available now for those trying to get a personal loan. You can go online and find out about the terms and conditions of the various banks and NBFCs offering personal loans. You can also approach the loan desk of a bank or a financial institution.
Here, we will talk about India’s top 10 best personal loan banks and NBFCs.
- Elara Capital LLP
Elara Capital LLP is a subsidiary of the Corporation Bank. While Corporation Bank offers personal loan products, Elara Capital LLC is a financial services company. Elara Capital is counted as India’s second-best personal loan bank. It provides loans ranging from ₹ 2 lakhs to ₹ 25 crores. Elara Capital has been a preferred lender for the past few years consistently offering good loan rates.
- MINT Capital Partners Pvt. Ltd.
MINT Capital Partners Pvt. Ltd. is counted as the best personal loan bank in India. The company was established in 2013 and is based in Hyderabad. MINT Capital Partners Pvt. Ltd. is a part of the MINT group, which is counted as the third-best personal loan bank in India. MINT is a group of financial services companies that offers various financial services like insurance, pension funds, banking, and mortgage services. If you want to start a loan application process with MINT, you will have to fill out their online form and their agent will reach out to you on how to get a personal loan.
- Meesui Financial Services Pvt. Ltd.
Meesui Financial Services Pvt. Ltd. is another top-notch personal loan bank. The company was established in 2008 and is based in Mumbai. Meesui is counted as one of the best NBFCs in India providing personal loan products to customers. The Mumbai-based NBFC provides loans ranging from ₹ 2 lakhs to ₹ 5 crores.
- Provogue Financial Services Pvt. Ltd.
Provogue Financial Services Pvt. Ltd. is counted as one of the best NBFCs providing personal loan products. The company was established in 2015 and is based in Mumbai. It is known not only for personal loan products but also for its excellent customer service and has received awards for its initiative for financial inclusion in the country. Over the past few years, Provogue has launched a new set of personal loan options for young graduates.
- Pure Loans Pvt. Ltd. (Formerly Aneel Finance)
Pure Loans Pvt. Ltd. is counted as the best NBFC providing both terma and home loan products. The company was established in 2012 and is based in Bengaluru.
The Rajkumar Group, which is counted as the second-best NBFC for providing home loans, is a minority partner of Pure Loans. Pure Loans Pvt. Ltd. is a part of the Aneel Financial Services Group, the leading NBFC market.
Indiabulls is a leading NBFC and a pioneer in the NBFC sector in India offering a wide range of finance programs and services across the country. Indiabulls finances businesses and individuals for long-term investment and financial plans. Investors have the option of choosing from a wide range of financial products and services, including retail and corporate loans, home loans, venture capital, asset reconstruction, insurance products, and financial advice. If your question is how to get a personal loan from Indiabulls, you can reach out to their customer care number 1800 572 7777.
- Yes Bank Limited
Yes Bank is counted as one of the best personal loan lenders. The bank was established in 1988 and is based in Mumbai. It is a part of the State Bank of India (SBI), one of the biggest banks in India. The bank offers a range of personal loan products like home, car, and small business loans. The best thing about Yes Bank is that it charges the lowest interest rates for all these loan products.
The best way to start the application process with Yes Bank is to call their customer care number.
- Siganto Investment Holdings Pvt. Ltd.
Siganto Investment Holdings Pvt. Ltd. is counted as the third-best NBFC providing personal loan products and the best NBFC providing home loan products. The company was set up in 2007 and is based in Mumbai. Siganto Investment Holdings Pvt. Ltd. is a part of the Srei Infrastructure Developers Group, which is counted as the second-best NBFC providing home loan products. If you’re interested in getting a personal loan from Siganto, reach out to them via the email ID provided on their website.
- Muthoot Finance
Muthoot Finance is a leading non-banking financial institution in India. The company offers business finance, NBFC loans, asset reconstruction, and factoring. The company was incorporated in 2002 with its headquarters in Chennai, Tamil Nadu. In the past decade, Muthoot Finance has emerged as one of the largest providers of gold loans in the country and also ranks top when it comes to personal loans with the most attractive interest rates. To get a personal loan from Muthoot, either visit their nearest branch or reach out to them through a dedicated form on their website’s ‘personal loan section’.
- Sumitomo Mitsui Financial Group
SMFG is the fourth-best NBFC providing personal loan products and third-best providing insurance products. The company was formed in 2005 and is based in Mumbai. It is a part of the Sumitomo Mitsui Financial Group and has consistently ranked among the top NBFCs in the country. The company provides various financial services like insurance, pension funds, and banking. This is a Japanese enterprise and works differently as compared to the Indian-origin ones. Thus, the best way to start a loan application is to write to them seeking information on how to get a personal loan.
Personal loan banks and NBFCs in India are becoming increasingly popular. Thanks to the ease of online applications, low fees, and flexible repayment terms that have made possible a personal loan with just a few clicks.
If you were wondering how to get a personal loan, this article would have answered your questions. But if the options presented here are not satisfactory, you may check out the innovative and customized financing solutions provided by Piramal Finance.