Bajaj Finance Ltd., India’s largest private-sector non-bank lender, reported a strong festive season performance, recording a 27% year-on-year jump in loan volumes and a 29% rise in value during the September 22–October 26, 2025 period. The company disbursed approximately 63 lakh consumer loans, fueled by rising festive demand and supportive government policy measures.
The lender added 23 lakh new customers in this period, with 52% being first-time borrowers, underscoring a major push toward financial inclusion. Bajaj Finance attributed the surge in consumption credit to next-generation GST reforms and changes in personal income tax that boosted household purchasing power.
Sanjiv Bajaj, Chairman of Bajaj Finance, said the reforms empowered middle and lower-income families to spend confidently. “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,” he stated. Lower GST rates on televisions and air-conditioners helped reduce average loan ticket sizes by 6%, while enabling upgrades. Premium TV financing rose, with 71% of TV loans directed toward 40-inch and above models, up from 67% last year. With 239,000 distribution points across 4,200 locations and strong digital platforms, Bajaj Finance said it remains focused on expanding access to credit and powering India’s consumption growth story.
