Banking, Financial Services, and Insurance (BFSI) has been one of the fastest-growing sectors of the Indian economy. In the last decade, it has exhibited a growth of 6 times in Asset Under Management (AUM). India’s financial services landscape is a diversified sector, which comprises:
- Commercial Banks
- Non-banking Financial Companies (NBFCs)
- Co-operatives
- Asset Management Companies (AMCs)
- Other smaller financial services entities
Several government initiatives and innovations in the industry are driving financial inclusion. These innovations can bolster the broader financial ecosystem and enhance financial growth. In this backdrop, check out some of the most trusted financial services companies in India.
Muthoot Finance
It is the largest gold loan NBFC in India, which operates through over 6,500 branches across the country. Since its inception, Muthoot Finance has served over 70 crore customers. The following are the services it extends:
- Its gold loan begins from ₹1,500 with no upper limit on funds that you can access
- You can get personal loans at attractive interest rates for diverse needs
- It also offers home loans of up to ₹50 Lakhs with easy repayment options
- You can also get insurance products, such as home, health, life, and vehicle plans
- It also enables you to invest in mutual funds to enjoy potentially higher returns
Bajaj Markets
It is a one-stop shop that provides access to numerous financial solutions. Being a subsidiary of Bajaj Finserv Private Limited, it carries the trusted legacy of one of India’s largest business families. The following are the categories of products you can access with Bajaj Markets:
- You secure various loan services from this financial marketplace, including personal, home, business loans, etc.
- Enjoy access to extensive coverage with life, health, and vehicle insurance policies
- Earn high returns with diverse investment options, such as mutual funds, National Pension Scheme (NPS), and more
- Invest in fixed-income sources, like Bajaj Finance FD, to enjoy stable and predictable returns
- Apply for credit cards that suit your financial requirements with a seamless process
LIC Housing Finance
This NBFC has one of the broadest customer bases and operates through 24 back offices and 282 marketing offices. LIC Housing Finance is instrumental in the Union Government’s initiative for ‘Housing for All.’ Check out some of the products it provides:
- It provides access to housing finance with diverse products like regular home loans and plot loans
- You can also get the Griha Suvidha Home Loan at competitive interest rates if you are a salaried employee
- The Home Loan for Pensioners provides funds to retired state and central government employees
- With the Home Improvement Loan, you can cover the cost of renovation of your residence
- You can earn stable returns by investing in cumulative and non-cumulative public deposits
Tata Capital
The trusted name of Tata Sons Private Limited backs this financial services company. Tata Capital provides a wide array of financial products and services. Check them below:
- You can take out various types of credit, such as home, education, personal loans
- It also provides different commercial loans, including working capital and term loans
- You can also invest in diverse options like mutual funds and fixed deposits
- Exclusive customers can also access personalised wealth management services, in-house research, and insights
- Enjoy wide coverage at a low premium price with motor, life, health, and travel insurance plans
- Browse through a number of credit cards to enjoy benefits that align with your lifestyle goals
Shriram Finance
Backed by a trusted legacy of 46 years, this is one of the fastest-growing NBFCs in India. It functions through a network of 3,095 branches across the country. The following are the products they provide:
- You can invest in fixed deposits, chit funds, digital gold, and digital silver
- Get access to credit for your personal and commercial needs, including two-wheeler and working capital loans
- You can make bill payments and digital payments through the Unified Payment Interface (UPI) on Shriram Finance
- Enjoy coverage from unwarranted events with home, motor, and life insurance policies
- It also provides access to different calculator facilities, allowing you to make informed financial decisions
Aditya Birla Finance
It is a subsidiary of the trusted holding company Aditya Birla Capital Limited. AB Finance provides end-to-end lending, financing, and wealth management services. The following are some of the financial products it provides:
- You can secure finance for your dream home with diverse products, such as home loans and loans against property
- For personal finance, you can take out personal loans, flexi loans, and credit cards
- You can also get a number of secured credit facilities against mutual funds, stocks, and insurance policies
As India’s economy continues to soar, the financial services sector is poised for unprecedented growth. Bajaj Markets provides products and services of some of the companies listed above. You can open demat accounts, get insurance plans, invest in FDs on Bajaj Markets among other facilities.
Their achievements not only shape the present but also illuminate the potential of India’s economic growth. They may expand their product offerings and enhance customer experiences in the years to come.