What Is Bajaj Finance? 2023

What Is Bajaj Finance?

Bajaj Finance limited is the investment and lending arm of the Bajaj Fiserv group that is of the most diversified NBFC in the Indian markets. They are catering to almost 38 million customers across the country. They are the largest financier of consumer durables and one of the most profitable firms in the category.

They are spread across the nine product lines and they are focused on the consumer, SME, and the commercial lines of the business. Bajaj finance is present in 1997 locations with a strong distribution network of 102600+ active points of sale.

What are the benefits of Bajaj finance?

When you are parking your investment with Bajaj finance instead of an FD, there are many benefits. It is going to help you get the most out of the investment. With the Bajaj finance, you will be able to get the most from your investment and can enjoy more benefits from the FD Investments.

When you are a new customer, you will get the money instantly with the pre-approved offers on the suite of financial products such as business loans, personal loans, EMI finance, loans against the property, and more.

Well, you will be able to avail of instant finance without any hassles of queues, details, approval processes, and much more.

Let us now take a look at the benefits that you can enjoy as a Bajaj finance customer:

Get the interest on the Investment:

When you are awarded the ICRA MAAA stable rating and CRISIL FAAA stable rating, then the Bajaj finance fixed deposits that will allow you to park your investment into safety. Also, the investment instrument will provide you with the benefit of high interest of more than 7%.

When you are a Bajaj finance customer, you have an advantage that you can enjoy 0.25% added interest on your other investments.

Well, let us take an example where a new customer is choosing the tenure of 12-23 months on a non-cumulative, monthly, quarterly, half-yearly, and yearly interest rate will be 5.65%, 6.10%, 6.80% respectively. What Is Bajaj Finance?

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Well, choosing the FD is going to provide you with a yearly interest of 6.80%. This is how the Bajaj finance will provide you with the benefit of 0.25% on both the variants that are not considering the tenure and the compounding frequency that you will choose.

Senior citizens can access higher interest privileges:

Well, as per the RBI guidelines, when you fall in the age bracket of 60 years and above, then you are a senior citizen and the FD interest rates that will be offered to you will be higher. The Bajaj finance will also allow you to earn 0.25% extra interest on the FD. What Is Bajaj Finance?

The interest offered for the senior citizens is one of the best in the market and this is what makes the Bajaj Finance FD one of the leading contenders in the category.

Well, if you are an existing customer of Bajaj finance, then you can claim the additional 0.25% interest on the FD. This will mean that you will be able to claim the 7.05% interest on the FD investments as an existing senior citizen customer of Bajaj finance.

So you can choose the non-cumulative or the cumulative fixed deposit at the convenience of the higher rate of interest.

Enjoy the renewal benefits as well:

The Bajaj finance is also going to provide the additional 0.25% interest on the existing interest plan on renewal of the existing Bajaj finance FD. This will be added in your 0.25% of the existing Bajaj finance customer benefit will make the return on the investment higher when compared with the general FDs.

Well, this means the interest of letting your money stay in the savings account. This will let you earn approximately 6% interest in the year.

With the Bajaj FD, you will be able to get a higher rate of interest in a year. Now that you know that as an existing customer, you will be able to amp your wealth. You can start your FD, with just Rs 25000 and you will be able to gain bigger returns over time. What Is Bajaj Finance?

Some products and services of the Bajaj finance:

Durable finance:

This is the finance option for the purchase of the household items such as washing machines, TV, refrigerator, microwaves, etc. The consumers can easily avail up to 4 lakh with the Bajaj finance EMI network.

The consumers will be able to achieve 100 percent of funding for purchasing at zero or a low rate of interest. You will be able to pay a convenient tenure and then repay in easy EMIs.

Lifestyle finance:

The financing options will be through easy EMIs loans offered in order to purchase the home appliances, personal appliances, fashion, groceries, travel, healthcare fitness, and heath that will give hassle-free access to affordable luxury, with the feature of payment convenience. What Is Bajaj Finance?

EMI card:

The EMI network card will come with a pre-approved loan of up to 4 lakhs that the customers can use across the Bajaj Fiserv more than 60000 partners store in more than 1300 cities. It is going to come up with flexible tenure ranging from 3-24 months. What Is Bajaj Finance?

You will be able to do your favorite shopping on the products with the EMI option on the best and top e-commerce platforms.

Personal loan:

What Is Bajaj Finance?
What Is Bajaj Finance?

Well, you will be able to borrow up to 25 lakhs worth of loan by just being in the simple eligibility criteria. You just have to submit basic documents. The customers will be able to avail money with the help of the online personal loan application that is approved instantly while providing them with the flexible repayment tenures that is ranging from 12 to 60 months. What Is Bajaj Finance?

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