Impact Of NBFCs On Real Estate
Owning a property is a very big deal, whether it is for residential purpose or commercial purposes. A piece of the property ensures financial security in a person’s life. However, not every man can afford to buy a property with cash in hand, which is why they choose to opt for bank loans. But, here’s a twist, banks strictly scrutinise your credit score, and what if your credit score is low? This is where NBFCs come in. Let us get into details of what NBFCs are and how they can help you with finances. What Are NBFCs? NBFCs are Non-Banking Financial companies that provide financial support and other banking facilities but without coming under a legal classification of a bank. These institutes have their policies a bit more relaxed than the bank with regards to low or zero credit scores. These financial institutes are registered under the Companies Act, 1956 and they engage in the business of providing banking services such as advancements of loan, acquisition of shares, stock, ...