Bajaj Finance Sees 27% Surge in Festive Loan Demand

Bajaj Finance, a part of Bajaj Finserv, on Tuesday said it disbursed a record number of consumer loans in the festive season, registering 27 % growth in volume and 29 % in value year-on-year.

This 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 said in statement.

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, it 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," Sanjiv Bajaj, Chairman, Bajaj Finance, said.

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 said.

Over half of customers during this festive season are new-to-credit, taking their first loan from the formal financial system, it said.

The statement further said, lower GST for televisions (TVs) and air-conditioners have helped consumers 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-inches and above screens accounting for 71 % of the total TVs financed by the company as compared to 67 % last year, it added.