The NBFC Advances Financial Inclusion as first-time borrowers form 52% of new-to-Bajaj Finance customers
FinTech BizNews Service
Mumbai November 4, 2025: Bajaj Finance Ltd., India’s largest private sector non-bank lender and part of Bajaj Finserv, today said it had seen a surge in consumption finance during the festive season, disbursing a record number of consumer loans, higher by 27% in volume and 29% in value as compared to the same period last year.
The rise in consumption credit, represented by loans for consumer goods, reflects the
positive outcome of the government’s next generation GST reforms and changes in
personal income tax, aimed at increasing consumers’ purchasing power.
Bajaj Finance disbursed approximately 63 lakh loans from September 22 to October 26,
2025. During this period, the company acquired 23 lakh new customers, of which 52%
were new-to-credit, thus significantly advancing financial inclusion.
Sanjiv Bajaj, Chairman, Bajaj Finance, said, “The government’s next generation GST
reforms and personal income tax changes have given a fresh push to India’s
consumption-led growth story. By making everyday products more affordable, these
measures have empowered millions of middle and lower-income families to spend with
confidence during the festive season. The positive impact is not only evidenced in the
27% higher disbursement of consumption loans, but also a premiumization trend with
consumers shifting to higher-quality products for better lifestyles.”
“Over half of our new customers during this festive season are new-to-credit, taking their
first loan from the formal financial system. With Bajaj Finance’s digital platforms and on-
ground presence at 239,000 active distribution points across 4,200 locations Pan-India,
we continue to deepen financial inclusion and power the rise of the Indian consumer,” he
added.
Lower GST for televisions (TVs) and air-conditioners have helped consumers to reduce
their average ticket size of loans by 6%, whilst enabling them to upgrade to higher-end
products. Consumer financing for TVs saw a clear premiumization trend with loans for 40-
inchs and above screens accounting for 71% of the total TVs financed by the company as
compared to 67% last year.
As a diversified, tech-driven non-bank, Bajaj Finance is focused on continuous innovation
to expand access to credit and transform experiences for consumers and businesses. A
leading provider of consumer finance, it has a significant presence in financing of mobile
phones, consumer electronics, home appliances, furniture, rooftop solar panels and many
more consumption-led categories.
Bajaj Finance serves a customer franchise of 110 million through its digital platforms and
on-ground distribution points. For enhanced transparency, it provides customers Key
Fact Statements as part of loan agreements in 19 languages. The Bajaj Finserv App, with
net installs of 75.1 million as on June 30, 2025, offers seamless experiences and faster
access to credit, deposits, insurance and investments.
The Next Generation GST reforms unveiled by the Hon’ble Prime Minister Shri Narendra
Modi in September, marked the start of ‘GST Bachat Utsav’ – a landmark step that
simplified and reduced tax structures to reduce burden on households, fulfil people’s
aspirations while also enhancing the ease of doing business for entrepreneurs, traders
and MSMEs. The reforms are seen as one of the biggest since the introduction of the GST
in 2017. The restructured GST rate coupled with income tax cuts in 2025 have aimed to
boost the purchasing power of Indian households and strengthen India’s vision of
inclusive growth.
