Deepshikha | May 7, 2022 |
10 Best Finance Companies in India
India has numerous finance companies that provide a wide range of financial services. Each of them takes a different method of lending money and collecting interest on it. These businesses provide practically all of the services that a traditional bank would, but they aren’t called “banks.” If banks turn you down for any of your financial aspirations, such companies will assist you in some way.
However, their functionality is limited. These institutions provide services such as money lending, credit facilities, retirement planning, money market investing, and more. The RBI protects them under banking regulations, so everything is legal.
The only disadvantage we can see with such businesses is the depositing aspect. They are not permitted to accept consumer deposits. It’s one of the most important distinctions between a bank and a financial firm.
Having said that, we believe certain prominent ones would fall under the top 10 financial firms in India that could assist you.
Here’s the list of 10 Best Finance Companies in India:
Bajaj Finance Limited is a subsidiary of Bajaj Holdings, a company founded in 2007. They provide a wide range of services, including loans, insurance, advice services, lending schemes, and credit facilities. The organisation has recently grown in popularity and repute as a result of the services it provides.
The organisation, which is based in Pune, primarily serves small and medium-sized businesses. In addition, the firm offers wholesale and retail fixed deposit plans. Furthermore, the corporation employs over 20,000 people and has 1400 locations around the country.
The Indian Railway Finance Corporation, which is the largest government-owned financial company, was established to assist and financially support the banking sector as well as customers.
It is the Indian railroads’ finance arm, which raises funds through bonds, financial funding, and other financial organisations. It was founded in 1987 and is headquartered in Delhi. It provides a wide range of services and features tailored to the finance industry.
Shriram Transport Finance Company Limited is the place to go if you want financial assistance for your business or car purchase. Since 1979, the company has been a leader in providing loans and financing to consumers who want to buy trucks, vans, construction vehicles, agricultural vehicles, and other vehicles.
Aside from transportation loans, the organisation also offers business loans, deposits, working capital loans, life insurance, and other services.
Reliance Capital Finance Limited is a subsidiary of the Reliance Dhirubhai Ambani Reliance Group, which was founded in 1986. The company has served over 20 million consumers since its inception and is located in Mumbai.
It had not been operating as a proper finance business since its inception, but it acquired its F.C. certificate in 1998. Since then, it has expanded into a variety of financial sectors. Health insurance, mutual loans, private equity, personal loans, general insurance, and other categories are among them.
The organisation is well-known for providing home loans, automobile loans, working capital loans, gold loans, and other services. The organisation, which was founded in 1991, has served over 3 million clients from its 1000+ locations around the country.
The corporation has companies that focus on insurance and rural housing finance services under Mahindra & Mahindra Financial services limited. Mutual fund distribution, non-life insurance products, and other services are among the company’s other offerings.
The company was started in 1986 and is led by Mukesh Kumar Goel. The company gives help and financial aid to many electricity projects across the country, as its name suggests.
It’s mostly related to power generating, distribution, and transmission projects/associations/companies/businesses. The corporation is listed on the National Stock Exchange and the Bombay Stock Exchange as a Navratna Status company.
The corporation is a worldwide conglomerate headquartered in Mumbai that provides financial assistance in construction engineering, manufacturing sectors, engineering, information technology, and other areas. The services provided are numerous and are subsidised in the categories of information technology, technology services, infrastructure finance, and others.
The company was established in 1991 and focuses on providing personal, commercial, and car loans. The NSE and BSE both list the company. It is well-known for its value proposition and the long-term viability of the services it provides.
TATA motor finance is the country’s largest and most dependable financing firm for vehicular loans, devoting its services to vehicular loan products. The company boasts of being at the top, competing with BAJAJ Finance for vehicle loans. The company was founded in 1957 and has gone under various names, but the form and purpose have stayed the same. The organisation has over 260 branches across the country to carry out its services.
The financing company could be one of the earliest on our list, having been founded in Kerala in 1888. The majority of its services revolve around gold loans, gold exchange, and other related activities. Asset/wealth management, foreign exchange, travel services, and other services are also available.
The corporation includes subsidiaries as well as over 4000 branches nationally. Power and financial generation are examples of these. Its extensive variety of services includes home loans, commercial loans, and even microfinancing.
Cholamandalam investment and finance business limited was founded in 1978 as part of the Murugappa Group. It has now expanded its offerings to include loans, vehicle financing, equity loans, securities, and much more. All of these services are available at the company’s approximately 1000 branches. The organisation manages assets worth more than 63,000 crore rupees.
In case of any Doubt regarding Membership you can mail us at [email protected]
Join Studycafe's WhatsApp Group or Telegram Channel for Latest Updates on Government Job, Sarkari Naukri, Private Jobs, Income Tax, GST, Companies Act, Judgements and CA, CS, ICWA, and MUCH MORE!"
