NBFCs vs Banks: Which is a Better Option for Personal Loan?
Those who are in need of a personal loan in Alwar may consider it a big decision to choose the right option. Should they approach non-banking financial companies or a traditional bank? Well, both options offer personal loans. However, they have their own benefits, procedures and requirements. You need to understand the difference between these financial services to make an informed choice. Understanding the Difference Between NBFCs Vs Banks They are specialized institutions. They offer different forms of banking services. However, they do not fit traditional mold of a bank. The Reserve Bank of India ( RBI ) , regulates NBFC. They can provide loans, investment products and credit facilities. But they might not accept demand deposits, which are there in case of banks. This gives NBFCs a unique status. On the other side, traditional banks are institutions licensed to provide comprehensive services such as checking accounts, savings accoun...