NBFC Personal Loan

A Non-Banking Financial Company (NBFC) personal loan is a flexible and convenient financial solution for you when you have financial needs. NBFCs offer loans at relaxed eligibility criteria and at a much faster speed compared to a traditional loan processes. The emergence of NBFCs has been a revolution in the lending field that obsoleting all the drawbacks of a traditional loan process. Now, you can easily avail of a personal loan easily in just a few hours. FlexPay is an RBI -approved NBFC that provide loans through a streamlined process. If one submit the necessary details on the platform, their loan can be approved within one hour. This is one of the reason as why we are most popular NBFC among young salaried professionals. We provide line of credit that best fits there need.

NBFCs are the institutions that perform financial activities such as investments, loans, saving schemes.These institutions are easy to work with and they cater to a larger population as well. As an NBFC, we specialize in providing personal loans, to the unserved and underserved population. We offer relaxed eligibility criteria and give loans at reasonable interest rate. Our loans also come with flexible repayment options, where fixed EMIs are mandatory not required to repay. For all these reasons, NBFC personal loans have become the new favourites for people with financial needs. Our NBFC loan app simplifies the loan application and approval process, making it even more convenient for our customers.

Difference between a Personal Loan from an NBFC and a Bank

The sharpest distinction between an NBFC and a bank's personal loan is the streamlined application process provided by NBFCs. Unlike banks, NBFCs often offer a quicker and more convenient loan application process, allowing borrowers to access funds in a shorter time frame.

The second significant difference lies in the determination of interest rates. For bank loans, the rate of interest is typically decided by the regulatory authority, such as the Reserve Bank of India (RBI). In contrast, NBFCs have the liberty to set their own rates of interest. This flexibility allows NBFCs to potentially offer better interest rates compared to banks, depending on their individual terms and conditions.

Moreover, NBFCs provide the convenience of online loan applications with minimal documentation and digital verification. This means that borrowers can apply for a loan from the comfort of their own homes, eliminating the need for extensive paperwork. In contrast, traditional bank loans often involve more paperwork and physical verification processes, which can be more time-consuming.

Top 8 Reasons to Choose FlexPay for Your NBFC Personal Loan

Online Access: We have a 100% online application process. You can complete the onboarding using our mobile app or the official website simply by providing your name, contact and PAN details. To complete the application, all you need is your income and occupational details. Since the application is simple and automated, you can apply for this line of credit without any professional help. It is time-saving and helps in quick loan processing.
Quick Processing: The processing of this loan is also faster and you can get the credit in your account within 1 day. For urgent monetary needs, you can avail of this loan easily and meet your requirements. Also being an unsecured loan, you need not look for collateral for getting the loan in an urgency.
Less stringent with credit score: The credit score is a widely accepted norm for loan approval. It varies between 300 to 900 points, and the higher the better. With us, you there are chances to get loan in no time with a score of 700 or 700+, depending upon other credit checks
Competitive rate of interest: We offer a reasonable rate of interest on this line of credit. There are no hidden charges applied and only one-time processing fees. You can have multiple withdrawals without paying any additional charges.
Better approval measures: While with many other lenders only the credit score is observed for approval of the loan, we check multiple measures for it. This values all the factors like your income, employment status, credit health and history along with the quantum of the loan; rather than just focusing on the credit score. With this, if you have a clear credit history or even are new to credit, you can easily clear this NBFC loan eligibility.
Improved customer services: We have served our loan to 6000+ pin codes in India successfully. It has been a nice journey that we have covered and continues to be the best NBFC for personal loans. We provide 24*7 customer support where you can call us anytime to resolve your issues or for seeking some help.
Easy eligibility criteria: Since we focus on distributing our loan in financial needs, This include salaried individuals with regular monthly income & we offer relaxed eligibility criteria. With a minimum monthly income of Rs.8,000, you can avail of this loan.
Flexible repayment and tenure: Getting this loan is simple but easier is its repayment. We provide flexible repayment facilities where no fixed EMIs are mandatory. You can keep repaying your dues in variable instalments without any additional charges. For a person who earns a fixed income every month, this repayment is quite easy. Also, you can prepay your loan in full or partial and we take no foreclosure fees against the loss of interest. You can repay the sum as suitable to you without paying any additional fees or charges.

NBFC personal loans have emerged as a viable alternative for individuals seeking financial assistance. You can apply for a loan with us in a short and streamlined process. With relaxed eligibility criteria, minimal and digital documentation along with e-KYC for verification, this loan is just a few steps away from you. The relaxed eligibility that we offer makes this loan accessible to all who have a recurring and regular income every month. This can be your best loan option if you are considering a flexible loan deal for you. Since it's a line of credit that you can keep using and renewing, it can be your permanent credit backup as well.

FAQs

An NBFC that gives you an unsecured loan in a simple process and with quick disbursement can be quoted as the best one. The answer can vary depending on your monetary needs and repayment preferences. With us, you get the loan in a 100% digital process and disbursement within 24 hours. You can borrow this loan without any collateral and up to Rs.3 Lakhs.

The one which provides an end-to-end encrypted lending platform is the safest NFBF for online loans. We ensure it and give you a loan experience where your details and documents are insulated against any privacy breach.

Yes, an NBFC does provide a personal loan along with various other credit options. With us, you can borrow a loan that is a line of credit. Using this, you can spend on your fluctuating financial needs with no added charges. It also comes with a reasonable rate of interest and flexible repayment options.

Yes, it's completely OK to take a loan from an NBFC. We are also RBI approved NBFC credit line provider where you get a loan easily without any collateral. Here, you get the loan in a streamlined process and at a reasonable rate of interest. While getting a loan is easy and fast, it's equally smooth in repayment given its flexible EMIs and term.

Isalaried individual with a regular income, you can apply for a personal loan from NBFC. With us, you can get a loan if you have a minimum monthly income of Rs.8,000 and your age is 21 years and more. For this loan, we take no collateral and based on your income statement only you can get the approval.

The credit limit varies from one another NBFC lender. at FlexPay, the credit limit varies between Rs. to Rs. 3 Lakhs.