There are several finance and loan providers in India, and one of the most prominent participants of the industry is Bajaj Finance Limited. Bajaj Finance Limited is a part of Bajaj Finserv, an Indian Non-Banking Financial Company (NBFC) that deals in Consumer Finance, Small and Medium Enterprises (SME), and Commercial Lending.
The company started its operations on 25th March 1987, and it was named as Bajaj Auto Finance Limited. In 2010, the name of the company was changed to Bajaj Finance Limited. The company has its headquarters in Pune, Maharashtra, and it has about 294 consumer branches and 497 rural locations that are covered by their services. Bajaj Finserv Limited holds the majority of shares of the company by owning approximately 57.28%.
What is Bajaj Auto Finance?
Bajaj Auto Finance is an excellent NBFC platform in the country that helps people fulfill their aspirations allowing people to buy a new motorcycle or household goods. Bajaj Auto Finance division has been operating since 1987, and to date, they have served more than 30 lakhs customers in India.
The company provides loan facilities that would allow the users to buy Bajaj and KTM bikes, with all the variants being listed on the platform. The platform also offers attractive schemes for Bajaj RE three-wheelers as well. Bajaj Finance has several facilities that are available on the platform, including automated cheque handling facilities, processing loan approval, and transaction requests efficiently.
What all things you can buy with Bajaj Auto Finance?
There are various things that a user can buy using Bajaj Auto Finance for its service. There are times when schemes like 0% interest or no-cost EMI are provided, and people use the finance service of the company to buy household goods like fridge, tv, etc.
Mainly, Bajaj Auto Finance provides loan services for Bajaj and KTM bikes allowing people to get the vehicle that they are planning to buy. The company offers exciting offers and secure payment tenure to people so that it becomes easier for them to pay the EMI’s.
How to apply for the Bajaj Auto Finance loan?
A two-wheeler loan allows you to buy a bike at low-interest rates with monthly EMIs, and this helps you to maintain your budget as you ride your dream bike. The tenure for EMIs can range from 1 year to 3 years, depending on the monthly installment chosen by the person for the plan.
Before planning for a loan, there are specific eligibility criteria that a person should fit in to get the loan. These are:
- a person who is 18 and above and below 65 can apply for a loan
- the applicant should stay at the same house for a year to show residential stability
- applicant should have a stable job
- applicant should have a good CIBIL score
- applicant should have a permanent phone number and have KYC and other documents
Two-wheeler loan interest rates start from 7.85% and go onwards. The maximum tenure for repayment of the loan is 36 months, and the platform charges processing fees of 1% to 3.5% for the loan.
Once all the information is collected, and the eligibility criteria are fulfilled, the person has to spend 3-5 minutes on applying for a two-wheeler loan with Bajaj Auto Finance. The user has to follow these steps to get loan approval.
- Fill the necessary details– information about the applicant, the bike they are interested in, etc.
- Share personal details
- Calculate loan eligibility– the platform has an eligibility calculator that would allow an applicants eligibility once the details are shared
- Get loan approval– 24 hours are taken to verify the documents and for approval
Offline two-wheeler loan from Bajaj Auto Finance
In case a user is not willing to carry out the process online, they have the facility to visit the branch office that is present in their city and carry out all the necessary tasks with a representative.
How to check your Bajaj Auto Finance EMI
Once the loan is approved, the applicant can manage their profile on the website. The user can log in using the registered mobile number, or they can fill in their date of birth, registered mobile number, and the loan account number to log in their profile.
This way, the user gets access to their profile from where they can manage and check the EMI amount and how many EMIs have been paid and how many are remaining.
Bajaj Finance Share Price
After spending almost 11 years in the finance business, Bajaj Auto Finance Ltd. launched a public issue for their equity shares, and since then, they have been listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). With the day’s high of Rs. 9,189 and a lower rate of Rs. 9,066.30, currently, Bajaj Finserv (Bajaj Finance parent company) shares are trading at Rs. 9,164.60. The price has increased by Rs. 60.35, marking an increase of 0.66%, and the price is facing a steady rise in the price.
Bajaj Finance share price is current trading somewhere around Rs. 9175. (at the time of publication).
At TimesNext, we will keep you updated with the Bajaj Finance share price.