Top 10 Best Finance Companies in India – 2022

The finance companies are the backbone of India in tough times. The Company provides necessary advice, such as relating to advances and chit-reserves. The finance company offered transparency, flexibility, and quick assistance with the people’s financial requirements and made it very popular among the general public. There are several NBFCs in the country, so here is a roundup of the best NBFCs, but before moving on to the list, let us understand what exactly NBFCs are. 

1. GIC Housing Finance Ltd

GIC Housing Finance Ltd established in 1989 based in Churchgate, Mumbai.  It is is a subsidiary of the General Insurance Corporation of India. The Company works in housing finance activity and use it to operate in the retail loan segment. They provide loans to individuals and persons/entities involved in the construction of houses/ flats for residential purposes. The main objective of this Company is to enter in the field of direct lending to individuals and other corporates to accelerate the housing activities in India.

2. Bajaj Finance Ltd

Bajaj Finance Ltd was established in 2007, and it is one of the leading NBFC and among the top 10 Finance companies in India headquartered in Pune. The primary functions of the Company include retail fixed deposits and wholesale fixed deposits. The Company operates in engaged in the lending and allied activities. The Company’s primary focus is consumer lending, small and medium-sized enterprises (SME) lending, commercial lending, rural lending, fixed deposits, and value-added services.  It also provides the services of life insurance distribution, general insurance distribution, and mutual fund distribution. 

3. Housing Development Finance Corporation Limited or HDFC

Housing Development Finance Corporation Limited or HDFC established in 1994 as the first private sector life insurance company located in Mumbai, India. It is an Indian banking and financial services company, a leading provider of housing finance. The primary services of the Company include providing asset management, general insurance, and venture capital, banking, and education loans. The Company has various subsidiaries includes HDFC Standard Life Insurance Company Limited, HDFC Bank Limited, HDFC Ergo General Insurance Company Limited, etc. 

4. IDFC First Bank Ltd 

IDFC First Bank Ltd was established in 2015 headquartered in Mumbai, Maharashtra operates approximately 65 branches, over ten automated teller machines (ATMs) and spread throughout India.  It was previously known as IDFC Bank Limited, is a banking company. The various services offered by the Company include treasury, corporate /wholesale banking, retail banking, and unallocated. The Company also provides a savings account, fixed deposits, recurring deposits, debit cards, home loans, payments, and online services, among others.

5. Indiabulls Housing Finance Ltd 

Indiabulls Housing Finance Ltd is founded in the year 2005 and is headquartered in New Delhi, India. It is serving various countries that include the United Kingdom, India, United Arab Emirates, etc. It is part of Sameer Gehlaut’s Indiabulls group. IBHFL concentrates on the mid-market segment. It was awarded as Fastest Growing Housing Finance Company by NAREDCO in the year 2013-14. ASSOCHAM awarded Indiabulls Housing Finance Ltd as Affordable Housing Finance Company in the year 2015.

6. PNB Housing Finance Ltd

PNB Housing Finance Ltd headquartered in New Delhi, India, founded in the year 1988. The Company works to provide Home Improvement Loans, Loan against Property, Home Extension Loans, Plot Loans, Home Loans, Home Construction Loans, Land Loans, Lease Rental Discounting, and Fixed Deposits, etc. PNB Housing Finance Ltd has around 38 branches supported by about 16 underwriting hubs.

7. Muthoot Finance Ltd 

It is headquartered in Kochi, India was founded in the year 1939 and. Muthoot Finance Ltd works in providing loans (financing) against the collateral of gold jewelry. It operates in two segments: Financing and Power Generation. The various services offered by the Company include personal and business loans (secured by gold jewelry) primarily to individuals having no access to formal credit for a reasonable tenure to meet their short-term working capital requirements. The Company uses to provide gold loans, foreign inward money transfer services, foreign exchange services, insurance broking, home loans, personal loans, white label automated teller machine, instant money transfer services, collection services, microfinance, windmill power generation, and domestic money transfer services. The Company has a wide range of network of approximately 4,294 branches all over India. 

8. LIC Housing Finance Ltd 

LIC Housing Finance Ltd headquartered in Mumbai and founded in the year 1989. Its product range includes mortgage loans and home loans. The Life Insurance Corporation of India establishes it. It has a corporate office that is located in Mumbai, Maharashtra. It is one of the top 10 finance companies in India. The Company works in providing finance for flat renovation, purchase, and construction of flat, etc. LIC Housing Finance Ltd also includes funding for the development of commercial space. 

9. Mahindra & Mahindra Financial Services Ltd 

Mahindra & Mahindra Financial Services Ltd is headquartered in Mumbai, India and was founded in the year 1991. The Company is very well serving the financing needs of the population residing in rural and semi-urban areas of India. The various retail products and services provided by the Company include financing vehicles for commercial and personal use, tractors, small and medium enterprise (SME) loans, and various other financial products. Mahindra & Mahindra Financial Services Ltd provides services of mutual fund distribution, fixed deposit schemes, and personal loans. It has a subsidiary in Mahindra Insurance Brokers Limited, is in the business of distributing life and non-life insurance products through tie-ups with various insurance companies. It is one of the top 10 finance companies in India.

10. L & T Finance Holdings Ltd

Larsen & Toubro Limited, established in the year 2008, is an Indian multinational conglomerate headquartered in Mumbai. It also provides construction, real estate, IT services, and financial services. The leading Larsen & Toubro Limited finance company shares the business interest in the field of Information Technology, construction, engineering, financial services, manufacturing goods, etc. The Company offers a wide range of services that include power, electrical equipment, heavy equipment, and shipbuilding.  The top finance company’s subsidiary is L& T InfoTech, L & T Finance Holdings, L & T Technology services, L & T infrastructure finance company, etc. 


The finance companies in India work to be the backbone of a developing economy like India’s stressful times like now. These companies work to provide banking and financial services to the public, but on the contrary, unlike banks, they don’t accept deposits from the audience. 

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