In situations like these, individuals need a fast and convenient solution for covering expenses. Banks, NBFCs, fintech platforms, and other financial institutions can help by providing financial assistance, such as loans and investments.
While gaining financial help or assistance from a bank is a well-known and traditional approach for individuals, in such an emergency, withdrawing funds from the bank can be time-consuming and frustrating.
To resolve this issue, individuals approach NBFCs for personal loans because these loans are quickly approved and require minimal documentation for application.
That is why NBFCs are emerging as a better choice for short-term financial assistance, driven by an increase in demand for personal loans from NBFCs. Many more NBFCs are open, registered, and verified by the RBI. It causes competition among all NBFCs, which leads to the introduction of new features, attractive interest rates, and customer-friendly service offers to attract as many individuals as possible.
Reason for Choosing NBFCs for Personal Loan.
Individuals prefer NBFCs for taking personal loans because NBFCs’ loan approval process for personal loans is faster, which helps individuals to cover the expenses that come suddenly at emergencies, and also for applying for a loan, NBFCs required minimum or basic documents, which makes the documentation process much quicker, and NBFCs also provide flexible repayment tenure option to their customer as their comfortability. NBFCS offers a user-friendly app interface that allows customers to easily apply or obtain other information.
Top 15 NBFCs for Personal Loan 2025
| NBFC Name | Interest Rate | Loan Amount | Repayment Tenure |
| Bajaj Finance Ltd. | 11% – 20% | ₹50,000 – ₹25 Lakhs | 12 – 60 months |
| Tata Capital | 11% – 19% | ₹75,000 – ₹25 Lakhs | 12 – 72 months |
| HDB Financial Services | 12% – 22% | ₹1 Lakh – ₹20 Lakhs | 12 – 60 months |
| Aditya Birla Finance | 11.50% – 22% | ₹1 Lakh – ₹15 Lakhs | 12 – 60 months |
| Mahindra Finance | 12% – 23% | ₹50,000 – ₹10 Lakhs | 12 – 48 months |
| Fullerton India | 12% – 24% | ₹50,000 – ₹25 Lakhs | 12 – 60 months |
| Muthoot Finance | 13% – 22% | ₹1 Lakh – ₹15 Lakhs | 12 – 48 months |
| Shriram Finance | 12% – 23% | ₹50,000 – ₹10 Lakhs | 12 – 48 months |
| Capital First (IDFC First) | 10.75% – 18% | ₹1 Lakh – ₹30 Lakhs | 12 – 72 months |
| Indiabulls Consumer Finance | 11.50% – 20% | ₹50,000 – ₹20 Lakhs | 12 – 60 months |
| Clix Capital | 12% – 22% | ₹1 Lakh – ₹25 Lakhs | 12 – 60 months |
| Paysense | 14% – 26% | ₹5,000 – ₹5 Lakhs | 3 – 60 months |
| Hero FinCorp | 12% – 22% | ₹50,000 – ₹15 Lakhs | 12 – 60 months |
| Poonawalla Fincorp | 11% – 18% | ₹1 Lakh – ₹30 Lakhs | 12 – 60 months |
| IIFL Finance | 12% – 24% | ₹50,000 – ₹20 Lakhs | 12 – 60 months |
Feature of Top NBFCs for Personal Loan 2025
| Feature | Detail |
| Quick Disbursal | Loan approval in as little as 24-48 hours |
| Flexible Repayment | Tenure options up to 6 years |
| Online Application | Easy-to-use apps and websites |
| Minimal Documentation | Hassle-free paperwork |
| Higher Loan Amount | Up to ₹30 Lakhs, depending on profile |
| Attractive Interest Rates | Competitive compared to banks |
Important Blog : Online Loan Scam Alert – How to Identify & Avoid Fraud
Eligibility Criteria of Top NBFCs for Personal Loan 2025
✅ Age: 21 years to 60 years
✅ Employment: Salaried employees, self-employed professionals, business owners
✅ Income: Stable monthly income
✅ Credit Score: Minimum CIBIL score of 650 or higher
✅ Work Experience: At least 1 year of total experience and 6 months in the current work
Document Needed in Top NBFCs for Personal Loan 2025
- Identity Proof: Aadhaar Card, PAN Card, Voter ID
- Address Proof: Utility Bills, Aadhaar Card
- Income Proof: Salary slips for salaried persons; ITR or bank statements for self-employed individuals
- Bank Statements: Last 3 to 6 months
- Photographs: 2 to 4 passport-sized photos
Conclusion
NBFCs are a better option for obtaining personal loans or seeking financial assistance in emergency or urgent situations, but which NBFC institute should be approached for financial help? Individuals should know about some famous NBFCs or at least the Top 15 NBFCs for Personal Loan 2025.
Frequently Asked Questions
Which NBFC institute is best for a personal loan in 2025?
The best NBFC institute cannot be determined, as it depends on an individual’s loan requirements, income, repayment capacity, and other factors.
How much time is taken to get a personal loan from NBFCs?
Many NBFC institutions will disburse the loan amount within 24 to 48 hours after all required documents have been submitted.
