NBFCs (Non-Banking Financial Companies) and fintechs are one of the fastest-growing corners of Indian finance, and for a graduate fresher they can be one of the more accessible entry points into a BFSI career. They lend money, collect repayments, and move payments much like banks do, but they hire round the year, lean heavily on technology, and reward people who can sell and follow up. If you have been focused only on bank jobs, this side of finance deserves a serious look. Here is what these companies actually do, the roles that hire freshers, how the work differs from a bank, indicative pay, and how to get started.
What NBFCs actually do
An NBFC is a company that provides financial services like lending and asset finance but does not hold a full banking licence, so it cannot offer a regular savings account the way a bank does. In everyday terms, NBFCs sit behind a huge share of the loans Indians take. Their core business lines include:
- Consumer and personal loans — small-ticket credit for phones, appliances, weddings, and emergencies.
- Vehicle finance — two-wheeler, car, and commercial-vehicle loans, often in semi-urban and rural markets.
- Gold loans — quick loans against gold, one of the most common secured products in India.
- Business and MSME loans — working capital for shopkeepers, traders, and small manufacturers.
- Collections — the disciplined follow-up that keeps repayments on track, a function every lender depends on.
Because NBFCs often serve customers and geographies that large banks reach less easily, they hire in big numbers across the country, which is exactly why they open so many entry-level seats.
What fintechs do
Fintech simply means finance delivered through technology. A fintech might be a lending app, a payments company, a UPI or wallet platform, or a service that helps banks and NBFCs run digitally. Common areas include:
- Digital lending — approving and disbursing loans through an app in minutes, using data instead of long paperwork.
- Payments and UPI — the rails behind everyday scan-and-pay, wallets, and merchant collections.
- Operations and support — KYC verification, onboarding, fraud checks, and customer service that keep the platform running.
Many fintechs partner with a bank or NBFC in the background, so working at one still builds real BFSI experience that counts on your CV.
Roles that hire freshers
You do not need a finance degree or a coding background to begin. Most fresher roles reward communication, discipline, and a willingness to learn. Here are the openings you will see most often:
| Role | What the job involves | Suits you if |
|---|---|---|
| Credit / Collections Executive | Assess loan applications and follow up on repayments to keep accounts healthy | You are organised and comfortable with numbers and phone calls |
| Sales / Business Development | Reach customers, explain products, and build a loan or payments book | You enjoy meeting people and are target-driven |
| KYC / Operations Executive | Verify documents, onboard customers, and process applications accurately | You are detail-oriented and like structured work |
| Customer Service Executive | Handle queries, resolve issues, and guide users through the app | You communicate clearly and stay patient under pressure |
How NBFCs and fintech differ from banks
The work overlaps with banking, but the culture and pace feel different:
- Technology-driven — much of the job happens on apps and dashboards, so you pick up digital and data skills early.
- Faster growth — flatter teams and quick hiring cycles mean strong performers can move up sooner than in a large, hierarchical setup.
- Strong variable pay — a meaningful part of earnings often comes from incentives tied to targets, so effort shows up in your payslip.
- Less rigid — there is no all-India written exam to clear; private lenders and fintechs hire round the year through interviews and, increasingly, structured hire-and-train pathways.
The trade-off is that this side of finance moves fast and is more performance-linked. If you prefer a fixed, exam-led route, a government bank may suit you better. We map out both worlds honestly in BFSI career paths from fresher to manager, and set the wider context in our complete guide to the BFSI sector for freshers.
Indicative pay for freshers
Pay varies widely by employer, city, product, and above all performance, so treat any figure as indicative only. As a broad guide, fresher roles at NBFCs and fintechs commonly start in the range of roughly Rs 2.4–4 lakh per year, and a large part of the total can come from incentives when you hit targets, especially in sales and collections. Structured hire-and-train pathways that place you into a defined role can start around Rs 4 lakh a year and above. As an independent BFSI training and counselling institute, we cannot promise any specific salary or job. What we can do is prepare you to interview well and grow faster once you are in.
How to start
- Get clear on the two sides — decide whether lending and collections (NBFC) or digital operations and payments (fintech) fits your strengths.
- Build the basics — sharpen your communication, get comfortable with spreadsheets, and learn how KYC, loans, and repayments work.
- Choose a structured pathway — our Finance & NBFC program and Fintech Operations program map training directly to the roles above.
- Apply widely and stay coachable — say yes to targets, learn on the job, and let your performance open the next door.
NBFCs and fintech offer a genuine, fast-growing start to a finance career, and you can begin without an exam or a finance degree. Explore our Finance & NBFC program or the full list of programs, and check your eligibility for free to find the pathway that fits you best.
Written by
Amit VermaLead Trainer — Insurance & NBFC
Amit is an IRDAI-certified insurance and NBFC specialist who has trained thousands of advisors and credit executives for field roles. He leads Become Banker's insurance and lending...
