Finance companies are the organizations which are involved in financing any consumer or business enterprise by lending money to them against any collateral security. Financial companies can be defined as the ones which offer loans to individuals, institutions, and businesses.
The basic point where a finance company differs from a bank is that it does not accept deposits from the public, unlike banks. Whereas a common feature between a bank and a financial company is that it acts as a lending entity by extending credit, where it may or may not draw funding from banks or other resources such as money market.
Such companies may hold specialization in offering to finance with a wide number of installment plan sales. It extends credits for the purpose of consumer purchases, commercial uses, for financing houses and production project, etc. The Indian Finance Industry comprises of numerous players which helps in boosting the economy of the country by providing financial assistance to various projects.
There are many finance companies in India, but for your informed selection during the times of need, we have shortened your research step. This post lays down the list of Top 10 Finance Companies in India, here have a look!
