Bajaj Finance Ltd. recorded a 27% increase in loan volume and 29% rise in value during this year’s festive season compared to 2024, disbursing approximately 63 lakh loans between September 22 and October 26.
The surge reflects positive consumer response to recent GST reforms and personal income tax changes. The company acquired 23 lakh new customers during the period, with 52% being first-time borrowers from the formal financial system.
Chairman of Bajaj Finance Limited, Sanjiv Bajaj attributed the growth to government reforms that made products more affordable, enabling middle and lower-income families to increase spending. Lower GST rates on televisions and air-conditioners helped reduce average loan sizes by 6% while driving premiumization, with 71% of TV financing going toward 40-inch and larger screens, up from 67% last year.
India’s largest private non-bank lender now serves 110 million customers through digital platforms and 239,000 distribution points across 4,200 locations nationwide.