Interest Rates
Rate comparison between NBFCs and banks.
- Banks: 10.49% - 16.00% (for prime customers)
- NBFCs: 11.00% - 18.00% (slightly higher on average)
- Winner: Banks (for good credit profiles)
Loan Comparison
NBFC vs Bank Personal Loan: Which Should You Choose?
NBFCs (Non-Banking Financial Companies) like Bajaj Finserv and Tata Capital compete with traditional banks for personal loans. Here's how they compare.
Danish MirzaFounder, Unyfy14 years in Indian banking and fintech
Eligibility Flexibility
Who has lenient eligibility criteria.
- Banks: Stricter CIBIL requirements (700+)
- NBFCs: More flexible (consider 650+ scores)
- Winner: NBFCs (for non-prime customers)
Unique Features
Special offerings from each.
- NBFCs: Flexi loans, instant disbursal, less documentation
- Banks: Lower rates, higher loan amounts, longer tenure
Who Should Choose What?
Recommendations based on profile.
- CIBIL 750+, salaried at MNC: Banks
- CIBIL 650-700: NBFCs
- Need quick disbursal: NBFCs
- Need lowest rate: Banks
Apply through Unyfy to get offers from both banks and NBFCs and choose the best.
Free Tool
Personal Loan EMI Calculator
Calculate your personal loan EMI instantly. Enter your loan amount, interest rate, and tenure to see your monthly payment and total interest.
₹
₹ Ten Lakh Only
₹1 Lakh₹2 Crore
%
8%20%
12 Months60 Months
Your Monthly EMI
₹32,385
for 36 months at 10.25% p.a.
Principal
₹10,00,000
Interest
₹1,65,860
Total Amount Payable
₹11,65,860
Principal (85.8%)
Interest (14.2%)
Our Partners
Partnered with India's Leading Banks & NBFCs
We work with the most trusted financial institutions to bring you the best loan offers.
Axis Bank
'/%3e%3c/g%3e%3c/svg%3e)
50,000+
Happy Customers
₹500 Cr+
Loans Disbursed
4.8/5
Customer Rating