The Top 10 NBFCs in India 2025

1. Muthoot Finance

Established in 1939, Muthoot Finance is a gold loan company, housing loan company, and vehicle loan provider. With a strong presence in semi-urban and rural areas, it is also one of the go-to financial institutions known for providing loans within a very short duration of time, making it a preferred choice for immediate financial needs.

2. Cholamandalam Investment & Finance Company Limited

Founded in 1978, Cholamandalam Investment & Finance Company Limited is a part of the Murugappa Group that has a diversified portfolio of financial products like vehicle loans and SME loans. The company also offers mutual funds and stock investment services for both individual and corporate clients.

3. Shriram Finance

Year of establishment - 1979

With over four decades since its establishment, Shriram Finance has grown as a well-known name in the NBFC lending space catering to the underserved markets. It has an extensive network of 2,500+ branches, providing commercial vehicle loans and personal loans. The NBFC’s focus on semi-urban and rural segments has helped it garner a customer base of over 7.5 million.

4. Piramal Capital and Housing Finance

Piramal Capital & Housing Finance Ltd, established in 1984, is a prominent player in housing and corporate finance, offering tailored financial solutions to both individual clients and developers. It has more than 300 branches in India.

5. Bajaj Finance

Year of establishment - 1987

Bajaj Finance, a subsidiary of Bajaj Finserv Limited, is a leading NBFC offering a comprehensive range of financial services. Operating over 3,000 branches, Bajaj Finance serves more than 50 million customers. As the only NBFC in India to be assigned a global ‘BBB’ rating from S&P Global, Bajaj Finance has a unique place among the most credible entities in the market.

6. LIC Housing Finance

LIC Housing Finance Limited (LIC HFL) is a subsidiary of the Life Insurance Corporation of India that primarily focuses on housing finance. Established in 1989, it provides a variety of loan products, including home loans and loans against property. With a widespread presence across India, LIC HFL has played a key role in making housing finance accessible to a broad range of customers.

7. Mahindra & Mahindra Finance

Mahindra Finance, a part of Mahindra & Mahindra Limited, is a leading NBFC established in January, 1991. While its primary area was financing Mahindra vehicles, it has now expanded to financing rural households and small businesses as well, making it one of the key players in rural finance.

8. Aditya Birla Finance

Established in August 1991, Aditya Birla Finance (ABF), a subsidiary of Aditya Birla Capital Limited, is one of the largest finance companies in India. With an integrated portfolio of credit and wealth management services, ABF caters to both retail and corporate sectors, providing tailored solutions in personal finance, corporate finance, and SME financing. Its AAA long-term credit rating from India Ratings, A1+ short-term credit rating from ICRA and India Ratings, and AA+ perpetual debt credit rating from ICRA and India Ratings highlight the company’s financial stability and creditworthiness.

9. L&T Finance

L&T Finance Holdings Ltd, a subsidiary of Larsen & Toubro, has been evolving its business portfolio since 1994. L&T Finance serves individuals, farmers and SMEs and has created a strong urban and rural network for easy access to financial services.

10. Tata Capital Financial Services Ltd.

Year of establishment - 2007

Tata Capital, part of the Tata Group, offers a diverse range of financial services, including loans for personal, business, and home needs. The NBFC having more than 100 branches is registered with the National Housing Bank as a housing finance company. The company is known for its ethical practices and customer-centric approach. With a strong brand reputation and a focus on innovation, Tata Capital continues to grow its market share.