Finance companies are the one that works as a bank and specialize in providing financial help to the consumers. However, financial companies are also playing an imperative role in strengthening the economic growth of the country.
Many individuals and institutions are seeking financial assistance and thanks to the finance companies in India that are working as a pillar to support the nation’s growth.
Here we listed the best finance companies, having attractive interest rates and helping people to live a luxurious life.
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- Rural Electrification Corporation Limited
This is the top-ranked Navratna company under the Ministry of Power that was situated in 1969 and provided generation, transmission and distribution of power across the country. It contributed significantly to the country’s agriculture as it allowed the agriculture sector to not only depend upon the monsoon.
In recent times, it has grown at a stable rate and generated 30,007.5 crores revenue. As its name signifies, it highly promotes rural electrification projects and plays an immense role in the country’s development.
- Indian Railway Finance Corporation Limited
This corporation is also regarded as IRFC that was founded in 1986 with a deep insight to empower the mobilization of railways. It plays a significant role in the expansion of the Indian railway.
It shows a great income growth rate in the inception years, and through the current data, it is revealed that it efficiently generated 110202.32 total income in the recent year.
- HDB Financial Services Limited
HDB Financial Services Limited was incorporated in 2007 with a unique mindset of providing financial assistance to businesses as well as individuals. This organization is accredited with CARE AAA & CRISIL AAA rating with excellent bank facilities.
It’s the foremost finance company in Indiathat features easy to take gold loans, consumer loans, loans against property, and many more with a captivating interest rate. Furthermore, it emerges with a fast speed, having more than 1300 branches in 24 states and union territories.
- Power Finance Corporation Limited
Power Finance Corporation Limited is a leading non-banking financial corporation in India established in 1986 and scheduled as Navratna CPSE. This company plays an outstanding contribution to the nation’s development as in March 2021, it generated 18,155.14 total income. However, its growth is slow in the current time even though it ranks at the top.
Rajeev Sharma is the managing director and chairperson who uplift this company to a new level. This corporation deals with power generation, transmission, and distribution; plus, it supports several power generating companies and projects by providing financial assistance. Moreover, this company is also a part of the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
- Cholamandalam Investment and Finance Company Limited
It’s a supreme finance company in India, promising to better the lives of its customers. It was founded in 1978, and now it stands among the top finance organizations. It has more than 1000 branches across the country, and it comes under the Murugappa group, a highly recognized business group worldwide.
It offers comprehensive financial assistance to its customers, including home loans, vehicle finance, SME loan, stockbroking, and much more, with 54,279 crores assets as per the latest study.
- Aditya Birla Finance Limited
Aditya Birla Finance Limited is a topmost finance company in India and a part of Aditya Birla Capital Limited. It was founded in 1991 and got registered with RBI as a systemically important non-deposit accepting NBFC.
It caters to the needs of individuals and organizations by providing customized financial solutions, including personal finance, corporate finance, mortgage finance, SME finance, debt capital markets, loan syndication and wealth solutions.
- India Infrastructure Finance Company Limited
IIFCL is an excellent platform established in 2006 with an aim to provide long-term financial assistance to infrastructural projects. It got registered with the RBI as NBFC-ND-IFC in 2013.
As per the latest survey, it is stated that this company earned excellent capital at the end of 2020 that was 10,000 Crore. It contributed immensely to supporting the infrastructural projects across the country.
- Capital First Limited
This organization is widely known for supporting small businesses and MSMEs through its stunning schemes and financial assistance plans. It was set up by V. Vaidyanathan in 2012 and got registered with NSE and BSE.
In the last few years, it grew dynamically and earned high revenue through provisioning financial assistance to its customers. It offers a wide range of customized solutions to ease the burden of individuals and organizations.
- Reliance Capital Limited
It’s a widely famous finance company in India featuring excellent financial assistance such as Nippon life insurance, General insurance, Money, Home finance, securities, Health insurance, Asset reconstruction, NPS and many more. This organization was incorporated in 1986 and grew excellently, and gained a special place in India.
It has 1 crore + customers and an 18000+ workforce. This finance company tops the list as Reliance is a name that sells by word of mouth. Almost everyone knows about this company and their history. This company multiplied because of the big vision and continuous hard work.
- Kotak Mahindra Prime Limited
This finance company was instituted in 1996 and a sub-part of Kotak Mahindra Bank Limited. Initially, it deals with car financing solutions, and later on, in 2018, it started providing financial assistance for two-wheelers.
It offers inventory funding and car loan to its customers at a very exclusive interest rate. It proliferates across the country, and in current times, it has 99 branches in 22 states. It ranks and works globally and strengthens the life of common people.
- IFCI Limited
It’s an incredible finance company in India under the jurisdiction of the Ministry of Finance, Government of India. It was situated in 1948 as a statutory corporation. Now works as a finance company with registration in BSE and NSE.
It manages a range of financial assistance and provides support to various organizations. Various industries grow across the country because of this incorporation’s help. It works significantly in supporting organizations with financial services. It is listed in the top finance companies in India as it generated 27835.40 total income as per the recent survey.
- L&T Infrastructure Finance Company Limited
This finance company provides various types of loans for the customers like Two-wheeler Finance, Farm Equipment Finance, Microloans, Housing Finance, Real estate finance, infra finance, Mutual fund. This company also contributed to the CSR and ESG committee and gained a huge turnover in the recent year.
It is greatly trusted by people as it offers attractive interest rates. Furthermore, it has various sub-parts such as L and T finance, L and T investment management, L and T infra Debt Fund and L and T Financial consultants.
The aforementioned list of the 12 top finance companies offers their customers a wide range of financial services. They offer several benefits to individuals and corporations with some limitations under NBFCs. If you are seeking financial help, taking help from the above-listed companies is great!