Top 5 Benefits of NBFC Personal Loans

Benefits of Getting a Personal Loan from NBFC image by Bravima Solution Team

In India’s evolving financial ecosystem, NBFCs (Non-Banking Financial Companies) have emerged as a popular alternative to traditional banks — especially for personal loans. NBFCs often provide faster processing, flexible eligibility, and user-friendly terms.

As a loan aggregator, Bravima Solution Pvt Ltd helps you access the best NBFC personal loan offers tailored to your profile. In this post, let’s explore the top 5 benefits of getting a personal loan via NBFCs, with real examples, comparisons, and actionable tips.

What Is an NBFC Personal Loan & Why It Matters

Before diving into the benefits, let’s clarify what an NBFC personal loan is and why many borrowers prefer NBFCs over banks:

An NBFC personal loan is a credit facility offered by non-bank financial institutions, regulated by RBI (but with different deposit and regulatory norms).
Unlike banks, many NBFCs emphasize digital processing, flexible underwriting, and faster disbursal.
As per Kotak’s guide, NBFCs provide greater flexibility and faster turnaround, which can help borrowers whose credit profiles are marginal.
According to LendingPlate, benefits like quicker processing, minimal documentation, and being less stringent on credit scores are among the top draws of NBFC loans.

In short: NBFCs often bridge the gap for borrowers who may find banks rigid or slow.

Benefit #1: Faster Processing & Quick Disbursal

One of the biggest advantages NBFCs hold over many traditional banks is speed.

Because NBFCs often use leaner processes, automated underwriting, and digital systems, they can sanction loans faster than many banks.
LendingPlate lists “Quicker Transfers” and “More Rapid Processing” among its top reasons why borrowers prefer NBFCs.
Many NBFCs advertise same-day or 24-hour disbursal for personal loans (when documentation is in order).
This speed is especially valuable when you have urgent needs — medical emergencies, travel, or sudden bills.

Tip for Bravima content: Emphasize how your platform’s aggregator system speeds application by matching borrowers with NBFCs that have fast processing.

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Benefit #2: Minimal / Simpler Documentation

Borrowers often dread paperwork. NBFCs tend to have more flexible documentation standards than banks, making the process smoother.

NBFCs may accept alternate proof of income, bank statements, or digitally verified documents.
LendingPlate lists “Minimal Documentation” as one of the six standout advantages for NBFC personal loans.
Many NBFCs allow fully digital uploading of documents, eliminating the need for paper forms.
Banks typically require stricter KYC, more proofs, and often physical verification.

Tip: In your content, show a “Documents Checklist” that is lighter for NBFCs (e.g. Aadhaar, PAN, recent bank statements) vs what a bank might demand.

Benefit #3: Flexibility in Eligibility / Leniency with Marginal Credit

NBFCs often have more flexible criteria — helping borrowers who might not fully qualify under strict bank norms.

Kotak’s guide on NBFC vs bank notes that NBFCs can be more lenient if your credit score is slightly lower, compensating using income or other factors.
LendingPlate also highlights “Less Stringent with Credit Scores” as a benefit.
Some NBFCs will consider borrowers with non-standard income sources or younger work history.
This flexibility is beneficial for freelancers, self-employed, or individuals with limited credit history.

Tip: Use case stories in your blog — someone who was rejected by a bank but approved by an NBFC through Bravima.

Benefit #4: Competitive / Attractive Terms & Flexibility

Although NBFCs are sometimes thought to carry higher interest rates, many offer competitive and attractive features tailored for borrowers.

Bajaj Finserv advertises personal loans with flexible tenures and attractive rates, including options up to ₹55 lakhs (for certain profiles).
HDFC’s personal loan benefits page highlights perks like quick disbursal, no collateral, and free use of funds (i.e. no restrictions on purpose) as advantages.
NBFCs often allow prepayment/foreclosure, top-up loans, and balance transfer options.
In competitive markets, some NBFCs offer promotional rates or special deals, especially via partners or aggregators like Bravima.

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Benefit #5 : Better Customer Experience & Digital Focus

NBFCs tend to focus more on digital innovation, user experience, and customer support.

Many NBFCs provide user-friendly mobile apps or dashboards where borrowers can track status, repay, or request increased limits.
Because NBFCs are newer and more agile, they adapt faster to market demands and can roll out innovative products (micro-loans, instant disbursal modules, AI underwriting).
Borrowers value transparency, ease of application, and communication — areas in which many NBFCs outperform legacy banks.

Supporting insight: A fintech NBFC benefits article notes how users prefer NBFCs because of faster processing, lenient requirements, and innovative financial products tailored to diverse profiles.

NBFC vs Bank: Which One Should You Choose?

It’s not always a straight “NBFC is better than bank” — both have pros and cons. Here’s a quick comparison:

Feature	NBFC Personal Loan	Bank Personal Loan
Processing Time	Faster (digital underwriting)	Slower, more steps
Documentation	Minimal / digital	More stringent, physical
Eligibility	More flexible	Stricter
Interest Rate	Sometimes higher (but competitive deals possible)	Often lower for prime borrowers
Brand / Trust	Growing but less “legacy”	High trust for many borrowers
Customer Service / Innovation	More agile & digital	Robust networks but slower to adapt

Kotak’s story on NBFC vs bank emphasizes this balance: banks may offer lower rates for ideal customers, but NBFCs win on agility and flexibility.

How Bravima Solution Helps You Get the Best NBFC Loan

As a loan aggregator, Bravima Solution can:

Match You to the Right NBFC — based on your profile, income, and credit history
Provide Multiple Offers — you see a side-by-side comparison
Speed Up Approval — our technology / partnerships help accelerate processing
Assist in Documentation — we guide you on what to submit
Offer Pre- & Post-Loan Support — monitoring, queries, etc.

Because we work with multiple NBFCs, we can often get better terms than you might directly.

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FAQs

Q. Are NBFC personal loans really faster than bank loans?
A. Generally yes — NBFCs use leaner processes and digital underwriting, which reduces processing times.

Q. Do NBFCs accept lower credit scores?
A. Many NBFCs are more flexible than banks, considering income, employment profile, or history in lieu of perfect credit.

Q. Are NBFC personal loans risky or more expensive?
A. They can be higher in rate if your profile is weak, but the perks (speed, flexibility) often offset that. Always compare multiple offers via Bravima.

Q. Can I get a top-up or balance transfer with NBFC loans?
A. Yes — many NBFCs allow loan balance transfers or top-up loans at competitive rates.