Non-Banking Financial Companies (NBFCs) have become an important part of India’s lending system. People today want fast loans without waiting for weeks, and NBFCs are filling this gap. Banks still dominate in terms of size, but NBFCs are winning on speed, convenience, and flexibility. With the government pushing for NBFCs to increase their share of credit, speed of loan disbursal has become one of the most important competitive factors.
Bajaj Finance – Leader in Fast Lending
Bajaj Finance is India’s largest NBFC and the clear leader in fast loan disbursal. It serves more than 100 million customers across India. The company has built strong digital platforms that allow it to approve and release loans quickly. Bajaj Finance offers consumer loans, personal loans, and small business credit that often get disbursed within 24 to 48 hours.
Its partnership with companies in telecom, retail, and fintech has made it even easier for customers to get instant loans. In the last financial year, Bajaj Finance disbursed 36 percent more new loans compared to the previous year. This shows both scale and speed.
Bajaj Finserv – Quick Personal Loans
Bajaj Finserv, which operates alongside Bajaj Finance, has made its name in fast personal loans. Customers often receive the loan amount in their bank accounts in less than two days. The company uses strong digital systems, minimal paperwork, and instant credit checks. For salaried customers, Bajaj Finserv sometimes disburses loans in just a few hours.
L&T Finance – Digital First Approach
L&T Finance has grown into one of the top NBFCs by focusing on digital loan processing. It has introduced paperless personal loans that customers can apply for completely online. While exact timelines vary, the company promotes fast disbursal as one of its biggest strengths. Its large branch network and digital platforms together allow it to serve both urban and semi-urban customers quickly.
Cholamandalam Investment & Finance – Speed and Reach
Cholamandalam is another big NBFC that offers quick disbursal of loans. The company operates across more than 800 branches and serves customers in small towns as well as cities. It focuses on vehicle loans, home loans, and personal loans. Customers choose Cholamandalam because they can walk into a branch and walk out with approval in a short time.
Aditya Birla Finance, Tata Capital, Shriram Finance, Muthoot Finance, Manappuram Finance
These companies form the next group of large NBFCs. They do not always advertise the fastest disbursal like Bajaj, but their systems are efficient and competitive. Aditya Birla Finance offers flexible co-applicant options that cut delays. Tata Capital gives personal loans across a wide ticket size with simplified processing. Shriram Finance focuses on inclusive lending and is building fast digital platforms. Muthoot Finance and Manappuram Finance dominate the gold loan segment, where disbursal speed is naturally high because loans are given immediately against gold.
Axio – Digital Credit and BNPL
Axio has become popular among young consumers through its Buy Now Pay Later model and small digital loans. The company has already disbursed more than nine thousand crore rupees and serves more than two million customers. Since BNPL models rely on instant approvals, Axio has one of the fastest disbursal systems in the NBFC sector.
HDB Financial Services – Combining Branches with Digital
HDB Financial Services is backed by HDFC Bank. It runs over 1,700 branches across India but also offers digital lending. It combines physical reach with quick digital processing. In June 2025, HDB launched one of the biggest NBFC IPOs worth more than twelve thousand crore rupees. With this fresh capital, the company is expected to expand faster and invest more in instant disbursal technology.
Revfin – Speed in EV Financing
Revfin focuses on electric vehicle loans, especially for people in smaller towns who often cannot access credit from banks. The company uses innovative methods such as psychometric tests to judge the borrower’s repayment ability. This reduces paperwork and speeds up approval. Revfin has already disbursed around one thousand crore rupees in EV loans, proving that niche NBFCs can grow fast by focusing on speed and inclusion.
Solfin – Rapid Green Loans
Solfin is a new tech-enabled NBFC in the renewable energy sector. It managed to disburse one hundred crore rupees in solar loans in just nine months of operations. The company uses technology to cut approval times and support green energy adoption. Solfin shows how smaller NBFCs can compete by moving quickly in new sectors.
Muthoottu Mini Financiers – Quick Gold Loans
Muthoottu Mini Financiers, part of the large Kerala-based NBFC group, continues to expand its gold loan business. Gold loans always rank high in terms of speed because customers deposit their gold and walk away with cash in hand. Muthoottu Mini Financiers reported an asset base of more than four thousand crore rupees in FY25, showing steady demand for fast disbursal loans in this segment.
New Players like Perfect Finserv
Alongside big names, new companies like Perfect Finserv are also making their mark. Perfect Finserv has built its brand by focusing on small personal loans and micro-loans in semi-urban areas. Customers prefer it because of its simple documentation and fast release of funds. Other rising players such as Credit Wise, Clix Capital, and NeoGrowth Finance are also using technology to speed up disbursal. These companies may not match the size of Bajaj or L&T today, but their reputation for speed is helping them grow quickly.
Why Speed Matters
Speed of loan disbursal matters because customers today need instant access to funds for emergencies, education, travel, or business expansion. Traditional banks often take several days, sometimes weeks, to process loans because of paperwork and strict checks. NBFCs reduce this time with digital applications, instant credit checks, and simple eligibility criteria.
The government also wants NBFCs to play a bigger role in lending. Today, NBFCs account for about one-fourth of the lending volume of banks. The finance minister has called on them to raise this share to half by 2047. To reach this goal, NBFCs will need to keep improving speed, technology, and outreach.
Trends and Future Outlook
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NBFCs are growing at a faster pace than banks in terms of credit growth.
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Customers trust NBFCs because they give loans to segments that banks often avoid, such as small businesses, rural borrowers, or people without strong credit histories.
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Technology will play a bigger role. Digital onboarding, AI-based credit checks, and mobile apps will cut approval time even further.
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Green finance and EV loans will see faster growth, with NBFCs like Solfin and Revfin leading the way.
Final Thoughts
India’s NBFC sector is no longer a shadow of the banks. It has become a major force in its own right. Bajaj Finance remains the leader in fast loan disbursal, while companies like L&T Finance and Cholamandalam continue to build speed with scale. Niche players like Revfin, Solfin, and Perfect Finserv prove that even smaller NBFCs can compete if they focus on agility and customer trust.
As competition rises, customers will continue to benefit from faster loans, wider access, and better financial inclusion. The future of lending in India belongs to companies that can combine technology with speed, and NBFCs are already leading this race.
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