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Finance is a word which everybody has come through and will be going through for perhaps ages also. People love money, love to become rich but most of them don't know how to manage money. It's not about hope, but it's all about proper management.
Read the Bajaj Finserv success story below.
Bajaj Finserv - Company Highlights
- Company Name-Bajaj Finserv
- Headquarters-Pune, India
- Founder-Jamnalal Bajaj
- Founded-May 2007
- Parent Organization-Bajaj Group
Bajaj Finserv - About
Bajaj Finserv is a popular firm in the marketplace for loans and money building. It fulfils the dreams of the common people. It provides all types of loans such as personal, home, business loans, etc. It is also engaged in life and general insurances.
Bajaj Finserv - Startup Story
The company began in April 2007. It was the resultant of the demerger from Bajaj Auto Limited as a separate element to completely focus on the financial services business. The process got completed in February 2008. This was done not only to unlock the value of the business growth in the areas of finance, insurance, etc. but also to strengthen the core businesses. This demerger has facilitated the investors to hold separate stocks and transparent benchmarking of the companies in their respective industries. The constantly changing Indian economy has led to the creation of different customer requirements.
Bajaj Finserv - Founder And Team
Jamnalal Bajaj is the founder of the company. He is an industrialist. He is the founder of the Bajaj Group of companies. He was very close to Mahatma Gandhi. He was born in 1889, near Rajasthan in a well-to-do Marwari family. He was the third son of his parents. Later, he was adopted and got settled in Maharashtra. After adoption, he was into the family business. During that period, he gained the qualities of a skilled tradesman, bookkeeping and selling and buying of commodities. With time he improved in his task and founded the Bajaj group of industries.
Bajaj Finserv - Business Model
The company especially focuses on insurance, lending, asset and wealth management. Apart from this it also focuses on it's existing customers. The company considers sustainability to be a very important aspect. Satisfying customers is the main task of the company. This results in a recommending thing. The more customers are satisfied the less the company worries about achieving new customers. It aims at continuous improvement, change and reinvention. Detailing of the loans and all kinds of facilities are accessible within their portal. Creation of trust is a kind of obsession for the company.
Bajaj Finserv - Revenue Model
The company earns money by attracting a large number of customers with zero cost EMI schemes. But in reality, there's always a thing called processing fee which works behind the entire procedure. In case of any late payment, interest can go up to 35 to 40% a year. It also provides various offers to its customers to create a large database. It is done to ensure greater sales. Tie-ups lead to a big amount of revenue income.
Bajaj Finserv - Investments
Bajaj Finserv has made 3 investments till date.
December 21, 2019 Karvy Data Management Corporate Round -
October 5, 2019 Federal Transport Private Limited Debt Financing $28,000
August 3, 2017 MobiKwik Series D Rs 2.3 billion
Bajaj Finserv - Growth
There's a continuous growth seen in the records of the company. Of the total income in September the quarter rose to INR 6,609.34 crores from INR 4,632.81 crores in 2018. Interest income grew by 37.62%. The amount increased from 4,465.61 crores to 6,145.97 crores. Commission income and fees also increased. It jumped from INR 259.36 crores to INR 628.37 crores. Revenues from the insurance business grew to INR 7,904.85 crores from INR 5,403.69 crores.
Bajaj Finserv - Competitors
The top competitors of the company are IDFC FIRST Bank, Shriram City and Mahindra Finance.
IDFC FIRST Bank is the top rival of Bajaj Finserv. It was founded in 2015 and is headquartered in Mumbai, Maharashtra, India. It is a Public company. It works within the Diversified Financial Services industry.
Shriram City is also one of the top rivals of Bajaj Finserv. It was founded in 1986 and is headquartered in Chennai, Tamil Nadu, India. It competes in the Diversified Financial Services field.
Mahindra Finance is one among the top competitors of Bajaj Finserv. It is headquartered in Mumbai, Maharashtra, India. It works in the Diversified Financial Services field.
Bajaj Finserv - Future Plans
The insurance business witnessed a pickup in activities currently. The company is aiming towards improving the asset quality of the business and the earnings growth. Product innovation is also being expected to keep the insurance business healthy.
Bajaj Finserv - FAQ's
How can I talk to a Bajaj Finance customer care executive?
You can reach us on 8698010101 (call charges applicable) for your loan and EMI Network Card-related queries. If you are calling from a non-registered mobile number, please keep your 7-digit customer ID or EMI card number handy for verification.
Is Bajaj FD safe?
Your savings are safe with a Bajaj Finance online FD, which is accredited with the highest safety ratings of FAAA by CRISIL and MAAA by ICRA. These high ratings indicate the highest safety of deposit and timely repayments.
How can I get a 50000 instant loan?
Meet urgent funding requirements with an instant personal loan of 50,000 Rupees from Bajaj Finserv. Fulfill minimum eligibility criteria and complete a hassle-free application process to receive instant approval and quick disbursal of INR 50,000 loan. Avail of the advance without providing any collateral.
How can I check my Bajaj EMI card eligibility?
Firstly, the eligibility criteria require you to be between 21 and 60 years of age with a steady income and a good credit history. You should also have a residential address and a bank account in India. After this quick check, you can instantly sign up for the Bajaj Finserv EMI Card if you are eligible.
Is Bajaj Finance good investment?
Though company fixed deposits come with some risk, Bajaj Finance FDs ensure that you have nothing to worry about. They carry the highest credit ratings of FAAA by CRISIL and MAAA by ICRA. These ratings indicate that your investment is safe and that you will receive the maturity returns on time and in full.
Bajaj Finserv - Conclusion
Bajaj Finserv is a company that approves loans and funds in accounts within 24 hours. It is a part of Bajaj Holdings & Investments Limited. It is a financial services company. It especially focuses on insurance, lending and asset and wealth management.