Bajaj Finance Ltd. reported strong festive season lending activity, with consumer loan volumes rising 27% and loan value up 29% year-on-year for the period September 22 to October 26, 2025. The non-banking finance major disbursed approximately 63 lakh loans, supported by favourable economic sentiment and government-led tax reforms.
Market analysts note that next-generation GST reforms and revisions in personal income tax have expanded discretionary spending capacity, translating into higher festive consumption finance. Bajaj Finance’s performance reflects this trend, with 23 lakh new customers added during the period. Notably, 52% of these were first-time borrowers, signalling deepening credit penetration and a stronger base for future loan demand.
Management commentary underscored a shift towards premium purchases, particularly in consumer durables. Lower GST rates on televisions and air-conditioners helped reduce average loan ticket sizes by 6%, while enabling customers to upgrade. Financing for 40-inch-plus TVs jumped to 71% of total TV loans from 67% last year, indicating strong premiumization momentum. With a network of 239,000 active distribution points across 4,200 locations and strong digital platforms, Bajaj Finance continues to reinforce its retail lending franchise. Analysts expect festive-season tailwinds, improved affordability, and inclusion-driven onboarding to support sustained credit growth into the next quarter.
