People often assume the only difference between banks and NBFCs is the interest rate.

People often assume the only difference between banks and NBFCs is the interest rate.
It’s not. The real difference shows up in the experience.

Banks move with caution. Their valuations are conservative, their documentation asks are rigid, and their approval chain is layered. Everything is by the book  sometimes to a fault.

NBFCs operate closer to the ground. Their property valuations are practical, their LTVs are higher, and their underwriting is more adaptable. They listen, they understand the story behind the numbers, and they move faster when the situation demands it.

If you’re someone who needs structure flexibility, quicker turnarounds, or a lender who evaluates the real picture, NBFCs usually feel more aligned.
If you want the lowest possible rate and have a textbook-clean profile, banks will serve you well.

Both work but it just depends on what you need more: a better rate or a smoother journey.