Top 10 Financial Companies in India, 2023

In India, There are plenty number of Financial Companies as the financial market of India is huge. Finance Companies are the company that allows lending money to an individual or any kind of enterprise. Apart from that they provide several kinds of services like credit cards, loans, saving accounts, and so on.

Here are the top 10 financial Companies in India:

1. Bajaj Finance Ltd.

   

   Bajaj Finance Ltd. is NBFC (Non-Banking Financial Company) started in March 1987.
   This company provides support to more than 50 million customers across the globe. This firm has six broad categories as Consumer Finance, SME Finance, Home Loan, Commercial Lending, Vendor Financing, and Rural Lending. Bajaj Finance Ltd. is a prominent financial company.

2. Tata Capital Financial Services Ltd

   

   Tata Capital Financial Services Ltd was founded in 2007 by Ratan Tata.
   This company provides Personal loans, Home loans, Business loans, Loan against Property, Used car Loans, Two Wheeler loans, Consumer Durable loans, MicroFianance loans, Wealth Management, and loans against Securities. They also provide several loans to Corporate customers like Working Capital Loans, Term Loans, Structured Products, and Construction Equipment Finance. TCFSL has over 100 branches spanning all markets in India.

3. Aditya Birla Finance Ltd

   

   Aditya Birla Finance Ltd was founded in 1857 by Shiv Narayan Brila.
   This company is a multinational company that operates in around 36 countries. They provide personal finance, SME finance, loan against securities, mortgage finance, corporate finance, wealth management, and DCM & Loan syndication. It also offers customized solutions. There total of 94 branches of Aditya Birla Finance Ltd. PAN India.

4. L & T Finance Limited

   

   L & T Finance Ltd was founded in 1993.
   It provides home loans, consumer loans, loans against property, two-wheeler finance, farm equipment finance, SME loan, and microloan. L & T Finance Ltd company is committed to providing customized financial solutions to cater to the customers’ needs.

5. Muthoot Finance Ltd

   

   Muthoot Finance Ltd was founded in 1939 by Mathai George Muthoot.
   Muthoot Finance Ltd is the leader in India’s gold loan and finance market. It is also established in the UK, the USA, and the UAE. This company offers loans, insurance, and money transfer service. Apart from that it has over 4,400 branches all around the nation.

6. Mahindra & Mahindra Financial Services Limited

   

   Mahindra & Mahindra Financial Services Ltd was founded in 1991.
   This company provides vehicle financing, SME financing, housing financing and Insurance broking, fixed deposits, and mutual fund distribution. Apart from that they also provide subsidiaries like Mahindra Mutual Fund, Mahindra Insurance Brokers Ltd, Mahindra Rural Housing Finance Ltd, and so on.

7. HDB Financial Services

   

   HDB Financial Services was founded in 2007.
   It is a leading NBFC that fulfill the need of Individual and business clients. This company is a subsidiary company of HDFC Bank. They provide personal loan, doctor’s loan, auto loan, gold loan, enterprise business loan, consumer durables loan, construction equipment loan, and so on. HDB Financial Services has more than 1300 Branches all over 24 states.

8. Power Finance Corporation Limited

   

   Power Finance Corporation Ltd. was founded in 1986.
   It is also known as the financial backbone of the Indian Power Sector. In the beginning, it was wholly owned by the GOI (Government of India). They are known for power projects on which they give financial assistance to the nation.

9. IDFC First Bank Ltd

   

   IDFC First Bank Ltd was founded in October 2015.
   They provide retail banking, wholesale banking, and investment banking. Apart from that this company offers home loans, Credit Card, Term Insurance, and Mutual Funds. They are the first ones to offer monthly interest credit on saving accounts.

10. Cholamandalam Investment and Finance Company

    

    Cholamandalam Investment and Finance Company (CHOLA) was founded in 1978.
    They offer vehicle finance, home loans, loan against property, SME loans, secured business personal loans (SBPL), consumer & small enterprises loans (CSEL), and a variety of other financial services to their customers. They have over 1100 branches all over India. Also, they said that their mission is to enable customers to enter a better life.

Note that some of the Financial Companies are Non-Banking Financial Companies.