If you’re in need of some financial assistance, you might have heard about Bajaj Finance Company. While there are several financial institutions that cater to your needs, Bajaj Finance Company stands out from the rest. With a wide range of financial services at its disposal and an exceptional reputation for quality, this institution offers some of the most flexible and custom-tailored financial solutions anywhere. Whether you’re in need of a loan, or simply want to save some money, Bajaj Finance Company has got you covered.
Bajaj Finance Company offers an array of financial services suitable for people of all shapes and sizes. The company provides loans, insurance, and other financial products to its customers. With its comprehensive range of services, it’s no wonder why Bajaj Finance Company is fast becoming a household name. It has a deep commitment to customer satisfaction, and it shows in the quality of their services.
Boasting a vast network of over 2000 branches across India, Bajaj Finance Company is a trusted and reliable partner when it comes to financial services. From rural communities to the big cities, the company has an extensive reach that covers almost every locality in India. Coupled with its excellent reputation for quality services, Bajaj Finance Company is an excellent choice for anyone looking for financial assistance. So, whether you’re looking for a personal loan or want to invest your money wisely, Bajaj Finance Company is the way to go!
Bajaj Finance Company Overview
Bajaj Finance Company is a non-banking financial company headquartered in Pune, Maharashtra, India. The company operates in the financial services sector, offering various financial products and services to its customers across India. The company is a subsidiary of Bajaj Finserv Limited, a leading financial conglomerate in India. Bajaj Finance Company was founded in 1987 and has since then grown to become one of the leading NBFCs in India.
- Bajaj Finance Company’s products and services include loans, insurance, investment, fixed deposit, and EMI card services.
- The company has a pan-India presence, including a strong network of over 2000 branches and 50,000+ distribution points across the country.
- Bajaj Finance has a customer base of over 43 million, making it one of the largest NBFCs in India.
Bajaj Finance has been awarded several accolades for its contribution to the financial services industry in India. The company has received awards like ‘Financial Institution of the Year’ by ABF Retail Banking Awards and ‘NBFC of the Year’ by ET NOW Business Leader Awards.
Bajaj Finance Company has shown remarkable growth and profitability over the years. The company’s net profit for FY 2020-21 was INR 4,430 crores, a growth of 21% YoY. Its assets under management (AUM) stood at INR 1.79 lakh crores as of March 2021, a growth of 5% YoY. The company’s loan book also grew to INR 1.43 lakh crores, a growth of 7% YoY.
| Key Financial Indicators | FY20-21 | FY19-20 |
|---|---|---|
| Net Profit (INR crores) | 4,430 | 3,667 |
| Assets Under Management (INR crores) | 1.79 lakh | 1.72 lakh |
| Loan Book (INR crores) | 1.43 lakh | 1.33 lakh |
In conclusion, Bajaj Finance Company is a leading NBFC in India with a strong presence across the country. The company offers a wide range of financial products and services, has a large customer base, and has shown impressive growth and profitability over the years.
Products and services offered by Bajaj Finance Company
Bajaj Finance is an Indian non-banking financial company that offers a wide range of financial products and services. It is part of the Bajaj Group, which is one of India’s leading business conglomerates.
- Personal Loans: Bajaj Finance offers personal loans for various purposes including medical emergencies, weddings, home renovation, travel, and education. The loan amount ranges from Rs. 1 lakh to Rs. 25 lakhs and can be repaid within a tenure of 12 to 60 months.
- Business Loans: The company also provides business loans for small and medium-sized enterprises (SMEs) to help them expand their business and manage cash flow. These loans have flexible repayment options ranging from 12 to 60 months.
- Home Loans: Bajaj Finance provides home loans to help people purchase their dream home or construct a new one. The loan amount can range up to Rs. 3.5 crores and can be repaid within a tenure of 20 years.
- Loan Against Property: The company offers loans against residential and commercial properties that can help individuals and businesses meet their financial needs. The amount of the loan can range up to Rs. 10 crores and can be repaid within a tenure of 18 years.
- Two-wheeler and Three-wheeler Loans: Bajaj Finance also provides loans for the purchase of two-wheelers and three-wheelers. The company has tied up with major manufacturers like Bajaj Auto, TVS, and Yamaha to offer easy financing options to customers.
In addition to the above products, Bajaj Finance also offers insurance products like health insurance, home insurance, and travel insurance. The company also provides fixed deposits and savings accounts with competitive interest rates.
Bajaj Finance has a strong presence in India with over 2000 branches across the country. The company’s customer-centric approach and innovative financing solutions have made it a popular choice among customers.
| Products and services | Loan Amount | Tenure |
|---|---|---|
| Personal Loans | Rs. 1 lakh to Rs. 25 lakhs | 12 to 60 months |
| Business Loans | Depends on the requirement of the borrower | 12 to 60 months |
| Home Loans | Up to Rs. 3.5 crores | 20 years |
| Loan Against Property | Up to Rs. 10 crores | 18 years |
| Two-wheeler and Three-wheeler Loans | Depends on the price of the vehicle | Depends on the loan amount |
Overall, Bajaj Finance Company offers a comprehensive range of financial solutions that cater to the diverse needs of individuals and businesses in India. Its emphasis on customer satisfaction, coupled with its innovative financing solutions, has helped it become one of the leading non-banking financial companies in the country.
Bajaj finance company’s market share and competitors
Bajaj Finance Company is a renowned non-banking financial corporation in India. It offers various lending products such as personal loans, business loans, consumer durable loans, and more. The company has been operating efficiently since 1987, providing financial assistance to a vast range of people across India.
As per reports, Bajaj Finance Company has been expanding its market for the last few years and has successfully surpassed its competitors. In the financial year 2020, the company had a market share of 8.6% in the Indian non-banking financial sector. This significant market share exhibits the strong presence of the company in the sector.
Competitors of Bajaj Finance Company
- HDFC Bank
- Kotak Mahindra Bank
- Muthoot Finance Limited
Bajaj Finance’s Performance Compared to Competitors
Bajaj Finance’s performance has been impressive compared to its competitors. Bajaj Finance reports revenue of INR 74,262.88 cr in the financial year 2020 and has registered a YoY growth of 44.8%. In comparison, Muthoot Finance witnessed a 12.93% YoY growth in 2020, with revenue of INR 8,767.50 cr.
In addition, the Gross NPA of Bajaj Finance Company has been stable and healthy at 1.23% in March 2020, whereas HDFC Bank’s Gross NPA stood at 1.36% in December 2020. This showcases the strong asset quality of the company.
Bajaj Finance Company Market Share Table
| Company | Year | Market Share (%) |
|---|---|---|
| Bajaj Finance Company | 2020 | 8.6 |
| HDFC Bank | 2020 | 6.1 |
| Muthoot Finance Limited | 2020 | 1.5 |
| Kotak Mahindra Bank | 2020 | 0.9 |
According to the table, Bajaj Finance Company has the highest market share of 8.6% in the non-banking financial sector in India in the year 2020, followed by HDFC Bank with 6.1% market share.
Bajaj Finance Company’s Expansion Strategies
Bajaj Finance Company is one of the leading finance companies in India. The company has come up with various expansion strategies to enhance its market presence. It has been successful in implementing these strategies that have helped the company to gain more customers and increase its market share.
- Entering new markets: Bajaj Finance Company has been exploring new markets to expand its reach. The company has been targeting Tier-II and Tier-III cities to tap the untapped market potential. Bajaj Finance Company has opened new branches and offices in these cities to reach out to more customers. It has also been using digital platforms and partnerships with local merchants to expand its reach.
- Product diversification: To cater to the diverse needs of customers, Bajaj Finance Company has been expanding its product portfolio. It has been introducing new products and services such as personal loans, home loans, business loans, and insurance. This has helped the company to offer a wider range of financial solutions to customers and increase its revenue.
- Strategic partnerships: Bajaj Finance Company has been partnering with other companies to enhance its products and services. For instance, the company has partnered with Flipkart to offer no-cost EMI financing to customers. It has also partnered with Ola to offer loans to drivers for new vehicles. These partnerships have helped the company to increase its customer base and attract new customers.
In addition to these strategies, Bajaj Finance Company has been investing in digital technology to enhance its offerings. The company has been using AI and machine learning to improve its credit scoring processes. It has also been using social media and other digital platforms to reach out to customers and offer personalized services.
Conclusion
Bajaj Finance Company’s expansion strategies have been effective in enhancing its market presence and increasing its customer base. The company’s focus on reaching out to new markets, offering a wider range of products and services, and partnering with other companies has helped it to stay ahead of the competition. With its continued focus on innovation and digital technology, Bajaj Finance Company is expected to maintain its leadership in the finance industry.
| Expansion Strategies | Impact |
|---|---|
| Entering new markets | Increased market share and customer base |
| Product diversification | Wider range of financial solutions and increased revenue |
| Strategic partnerships | Increased customer base and attraction of new customers |
Overall, Bajaj Finance Company’s expansion strategies have helped it to become one of the top players in the finance industry. As the company continues to invest in digital technology and new product offerings, it is likely to maintain its leadership position in the market.
Bajaj Finance Company’s Customer Support and Feedback
Customer support and feedback are two of the essential elements that make any company successful. Bajaj Finance Company is well-known for its outstanding customer support and feedback system. The company is dedicated to ensuring that its customers feel valued and heard. Here are some of the ways Bajaj Finance Company prioritizes customer support and feedback:
- Bajaj Finance Company’s customer support team is available 24/7 to assist customers with any queries or concerns they may have. The team works tirelessly to provide prompt and efficient solutions to ensure customer satisfaction.
- Bajaj Finance Company encourages its customers to share their feedback through various channels, such as email, phone calls, and social media platforms. Customers can also leave feedback through the company’s website feedback form.
- The company takes customer feedback seriously and uses it to improve its products and services continually. Bajaj Finance Company regularly conducts surveys to collect feedback from customers and uses the information to enhance its offerings.
Bajaj Finance Company maintains an impressive NPS (Net Promoter Score), an index that measures the willingness of customers to recommend a company’s products or services. The company’s high NPS score is indicative of its commitment to providing excellent customer support and feedback.
The table below highlights Bajaj Finance Company’s NPS scores for the past few years:
| Year | NPS Score |
|---|---|
| 2017 | 65 |
| 2018 | 72 |
| 2019 | 78 |
| 2020 | 85 |
The high NPS score is a testament to the efforts put in by the company to ensure excellent customer support and feedback. Bajaj Finance Company’s commitment to customer satisfaction has helped it establish a loyal customer base and establish itself as a leader in the financial services sector.
Bajaj Finance Company’s Partnerships and Collaborations
Bajaj Finance Company is one of the fastest-growing financial companies in India that specializes in consumer finance, wealth management, and financial markets. The company has established numerous partnerships and collaborations over the years to expand its reach and provide more comprehensive financial solutions to its customers.
Here are some of the notable partnerships and collaborations of Bajaj Finance Company:
- Partnership with Flipkart: Bajaj Finance Company has partnered with Flipkart, an e-commerce giant in India, to offer its customers easy EMI options on their purchases. Customers can now avail of financing options on various products, including smartphones, electronics, and appliances.
- Collaboration with MobiKwik: Bajaj Finance Company has collaborated with MobiKwik, a leading digital wallet and payment service provider in India, to offer instant loans to customers who require small amounts of money for emergencies or unexpected expenses.
- Association with ICICI Lombard: Bajaj Finance Company has associated with ICICI Lombard, one of the top general insurance companies in India, to provide its customers with comprehensive insurance policies for their products and financial investments.
Besides these partnerships, Bajaj Finance Company has also collaborated with several other brands and companies to expand its services and reach a wider audience. The company’s collaborations and associations have helped it to leverage its strengths and expertise in providing innovative and value-added financial solutions to its customers.
Furthermore, the company has also established an extensive network of branches and digital channels that provide customers with easy access to its financial services and products. Whether it’s investments, loans, insurance, or credit cards, Bajaj Finance Company continues to focus on developing partnerships and collaborations that enhance its offerings and customer experience.
| Company | Type of Collaboration |
|---|---|
| Flipkart | Partnership |
| MobiKwik | Collaboration |
| ICICI Lombard | Association |
Overall, Bajaj Finance Company’s approach to partnerships and collaborations reflects its commitment to providing value-added financial solutions to its customers. By leveraging the strengths of its partners and associates, the company continues to expand its reach and offer innovative services that meet the diverse needs of its customers.
Future prospects of Bajaj finance company
Bajaj Finance Company is a leading non-banking financial company that has been growing at a rapid pace over the last few years. The company offers a variety of financial products and services to retail and institutional customers. With its strong brand and reputation, Bajaj Finance is poised for continued growth and expansion in the future.
Here are some of the future prospects of Bajaj Finance that are worth keeping an eye on:
- Diversification into new markets: Bajaj Finance is looking to expand its business into new markets, both in India and internationally. The company has already made significant progress in this area, with its recent acquisition of a majority stake in the digital payments platform Mobikwik. This move will help the company to diversify its revenue streams and tap into new growth opportunities.
- Investment in technology: Bajaj Finance recognizes the importance of technology in staying competitive and meeting the evolving needs of customers. The company has been heavily investing in technology and innovation, including the use of artificial intelligence and machine learning to improve its products and services.
- Focus on sustainability: Bajaj Finance is also committed to sustainability and has been taking steps to reduce its carbon footprint, promote responsible lending practices, and support social causes. This not only helps the company to build a positive reputation but also positions it for long-term growth and success.
In addition to these prospects, Bajaj Finance has a number of other strengths that bode well for its future. These include its strong leadership team, its ability to attract and retain top talent, and its strong financial position. With these factors in mind, investors and customers alike can expect to see continued growth and success from Bajaj Finance in the years to come.
| Strengths | Challenges |
|---|---|
| – Strong brand and reputation | – Increasing competition in the industry |
| – Diversified business model | – Regulatory issues and compliance challenges |
| – Strong financial position | – Economic volatility and market uncertainty |
Despite these challenges, Bajaj Finance is well-positioned to navigate the competitive landscape and continue to deliver value to its customers and shareholders.
FAQs – What Does Bajaj Finance Company Do?
Q: What is Bajaj Finance Company?
A: Bajaj Finance Company is a non-banking financial corporation providing lending, asset management, insurance, and other financial services across India to help people achieve their financial goals.
Q: What are the services provided by Bajaj Finance Company?
A: Bajaj Finance Company offers a range of financial services, including personal loans, business loans, two- and three-wheeler loans, consumer durable loans, gold loans, fixed deposits, and savings accounts.
Q: How is Bajaj Finance Company different from banks?
A: Bajaj Finance Company is a non-banking financial corporation that focuses on lending and investment activities, while banks offer a wide range of services like savings accounts, current accounts, and more.
Q: Is Bajaj Finance Company safe to invest in?
A: Bajaj Finance Company has a long-standing reputation for its strong financial performance and reliable customer service. With a presence in over 2000 cities, it has become one of India’s most trusted financial services providers.
Q: How can I avail of services from Bajaj Finance Company?
A: You can simply apply for a loan or other services online through the Bajaj Finance website or by visiting your nearest Bajaj Finance branch. You can also avail yourself phone and SMS services offered by the company.
Q: Can I get a personal loan from Bajaj Finance Company?
A: Yes, Bajaj Finance offers personal loans, along with other types of loans and services, to help individuals meet their financial needs efficiently.
Closing Paragraph
Thank you for learning more about what Bajaj Finance Company does. We hope this article helped you understand the services, products, and benefits they offer for individuals and businesses alike. Stay tuned for more informative content about finance and other topics, and visit again soon!