Bajaj Finserv Ltd – A Detailed Study

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Bajaj Finserv Ltd. stands tall in India’s financial world with a remarkable market value of ₹2.44 trillion. With 73,000 committed workers, it offers a broad array of financial products for people across India. The company provides a variety of loans including personal, home, business, auto, and gold loans. It also offers unique products like the Insta EMI Card, showcasing its dedication to customer-friendly solutions. Besides these, Bajaj Finserv Ltd. extends services in fixed deposits, mutual funds, and diverse insurance types, ensuring varied financial needs are met under one roof. 

In this blog post, we will discover Bajaj Finserv Ltd.’s significant impact on the financial sector and explore its wide-ranging, effective financial solutions. The company stands as a strong partner for your varied financial needs, marking a significant presence in boosting India’s economic structure.

About Bajaj Finserv Ltd.

Bajaj Finserv continuously adapts its offerings, strategies, and services to meet the ever-changing needs of its customers, highlighting its commitment to excellence and customer satisfaction. The following table offers a quick overview of essential information about Bajaj Finserv Ltd., aiding in a better understanding of its foundation, operations, and extent.

AttributeDetail
FounderJamnalal Bajaj
Industry TypeFinancial Services
Founded Year2007
HeadquartersPune, India
Key PeopleSanjiv Bajaj (Chairman & Managing Director)
Parent CompanyBajaj Group
Countries PresentIndia
Number of Employees73,000
Market Cap₹2.44 trillion

Overview of Bajaj Finserv Ltd.

Bajaj Finserv Ltd. is a significant entity in the financial industry, having successfully sold over 28 million policies through Bajaj Allianz General Insurance Company. This remarkable achievement highlights its wide reach and the trust it has earned among countless individuals. The company effectively manages a substantial ₹90,584 crore Assets Under Management (AUM) of Bajaj Allianz Life Insurance Company, further showcasing its financial stability and expertise in handling significant assets.

In addition, Bajaj Housing Finance’s 81% AUM 6-year CAGR shows the company’s solid growth in the housing finance sector, highlighting its contribution to meeting numerous individuals’ housing finance needs. Bajaj Finserv Direct’s collaboration with 48 partners enhances the company’s services, ensuring wider access to financial solutions for many more people.

Moreover, Bajaj Finance Ltd. holds a massive ₹247,379 crore AUM, solidifying the company’s significant role in managing and growing the finances of a large number of customers. This figure strengthens the trust and reliability that many have placed in Bajaj Finserv Ltd.

The company’s reach extends beyond financial services. The Bajaj Finserv App serves 35.5 million customers, offering easy access to various financial products and services. Bajaj Finserv Health Digital, with over 120,000 doctors, 6,000+ lab touchpoints, and 1,800+ hospitals in its network, ensures that customers have timely and straightforward access to healthcare.

Furthermore, Bajaj Finserv Ltd.’s involvement in 643 Corporate Social Responsibility (CSR) projects highlights the company’s commitment to societal development and well-being, beyond its regular business ventures.

Bajaj Finserv Ltd. History

2007: In April 2007, Bajaj Finserv was established following its separation from Bajaj Auto Limited. This structural change was initiated to enable Bajaj Finserv to exclusively focus on the group’s financial services business. 

2008: By February 2008, the demerger process was completed, marking the birth of a dedicated entity committed to providing a diverse range of financial services in India. The company made a notable progression in 2008 by launching Bajaj Allianz General Insurance Company, which offered a variety of insurance products to secure individuals’ health, life, and assets. This step shows Bajaj Finserv’s resolve to deliver comprehensive financial solutions, catering to the extensive insurance needs of the Indian market.

2010: With continued growth, by 2010, Bajaj Finserv Ltd. had successfully established a substantial presence in the Indian financial market. The expanding customer base highlighted the company’s emphasis on customer satisfaction and building enduring relationships while broadening its market share.

2014: In 2014, Bajaj Finserv Ltd. enhanced its financial product portfolio, presenting innovative and diverse financial solutions to meet the ever-changing needs of consumers. This move cemented Bajaj Finserv’s status as a leading financial service provider in India, creating a one-stop solution platform for various financial needs.

2017: Understanding the vital role of healthcare, in 2017, Bajaj Finserv Ltd. unveiled Bajaj Finserv Health. This initiative was directed towards revolutionising healthcare access across India, providing digital-first, seamless healthcare solutions, thereby enhancing accessibility and convenience for all.

2020: In 2020, Bajaj Finserv Ltd. achieved a remarkable milestone by reaching a market capitalisation of ₹2.44 trillion, underscoring the company’s unwavering growth and substantial contribution to the Indian financial sector.

Major Subsidiaries of Bajaj Finserv Ltd.

Bajaj Finserv Ltd. has various subsidiaries, each making significant contributions in their fields.

Bajaj Allianz General Insurance Company

This leading private general insurance company in India provides comprehensive insurance solutions, including motor, health, and home insurance. Awarded as the “Best General Insurance Company in the Private Sector” by ABP News in 2014, Bajaj Allianz General Insurance is known for its efficiency, speed, and consumer satisfaction. It continuously develops intuitive and cost-effective insurance solutions for diverse consumer needs.

Bajaj Allianz Life Insurance Company

Specialising in a range of life insurance products, Bajaj Allianz Life Insurance Company ensures a secure future for its policyholders. It was named the “Life Insurance Company of the Year” at the Indian Insurance Awards in 2019. Its innovative products, commitment to transparency, and timely payouts have earned the trust and reliability of customers.

Bajaj Housing Finance: 

A 100% subsidiary of Bajaj Finance Limited, Bajaj Housing Finance Limited (BHFL) plays a significant role in helping many Indians own their dream homes. It offers easy and accessible home loan solutions, continuously enhancing its offerings to meet the financing needs related to housing effectively, thereby supporting the Indian real estate sector.

Bajaj Finance Ltd.

Recognised as one of the most diversified and robust Non-Banking Financial Companies (NBFCs) in India, Bajaj Finance Ltd. offers a wide array of financial services, including loans and wealth advisory. It was awarded the ‘Best Performing NBFC’ by CNBC-TV18 in 2018. Known for its innovative financial solutions and excellent customer service, Bajaj Finance Ltd. significantly contributes to India’s financial landscape by offering support and solutions to millions.

Products/Brands under Bajaj Finserv Ltd.

Personal Loans

If you need money quickly, consider personal loans from Bajaj Finserv. They are quick, with approval and fund disbursement within 24 hours. You can borrow up to ₹40 lakh to cover any personal expenses and enjoy flexible repayment for up to 60 months. Use the Personal Loan EMI calculator to plan your loan and ensure the EMIs are affordable for you.

Home Loans

Bajaj Finserv’s Home Loans make buying your dream home a reality. Borrow a high loan amount with up to 20 years to repay it. The unique top-up loan facility and a 3 EMI Holiday feature give you extra financial support to improve your property or manage initial expenses comfortably.

Business Loans

Bajaj Finserv’s Business Loans, up to ₹50 lakh, help to realise your business dreams without any collateral. The Flexi Loan facility lets you borrow and repay according to your business needs, ensuring you have funds when needed.

Auto Loans

Bajaj Finserv’s Auto Loans help you buy your dream vehicle. Covering both new and used vehicles, and offering financing up to 100% of the on-road price, these tailored loans ensure your vehicle purchase isn’t delayed due to budget issues.

Gold Loans

Bajaj Finserv’s Gold Loans lets you use your gold for immediate financial needs, with loans up to ₹2 crore. With flexible repayment options and secure handling of your gold, it’s a hassle-free way to get the funds you need.

Credit Cards

Experience unique credit card services with the Bajaj Finserv RBL Bank SuperCard. This card offers interest-free cash withdrawals, abundant rewards, and easy EMI conversions, ensuring your high-value purchases don’t strain your budget.

Fixed Deposits

Invest confidently with Bajaj Finserv’s Fixed Deposits, with returns up to 8.40% p.a. Choose from various tenures, starting with a minimum amount of ₹25,000. The stable rating by CRISIL highlights the security of your funds.

Mutual Funds

Simplify your investments with Bajaj Finserv’s Mutual Fund platform. Choose from expert-curated mutual funds to ensure growth in your investments. The platform helps you manage and make informed investment decisions effortlessly.

Insurance (Life, General, and Health)

Bajaj Finserv’s wide range of insurance offerings ensures complete protection. Bajaj Allianz Life Insurance offers extensive life cover with additional investment options. Bajaj Allianz General Insurance provides comprehensive protection against unexpected events, and Bajaj Allianz Health Insurance offers cashless treatment at over 6,000 hospitals.

Conclusion

Bajaj Finserv Ltd. is a significant force in the Indian financial market, offering a wide range of services and products that address various financial and healthcare needs. Its impressive growth, broad network, and creative solutions have made a considerable impact on the Indian economy, offering complete financial solutions and protection to many. The history, outstanding subsidiaries, and varied product options of the company highlight its dedication to excellence, innovation, and societal improvement. As you move forward in your financial and healthcare path, you can rely on Bajaj Finserv Ltd. as a dependable and strong partner, ensuring your varied requirements are handled with skill and attention.

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