Bajaj Finance, Bajaj Finserv hit record highs in a flat market

Shares of Bajaj Finserv and its lending and wealth advisory arm Bajaj Finance have hit their respective record highs on the BSE in intra-day trade in otherwise flat market.
Bajaj Finance hit a new high of Rs 2,177, surging 19% in past eight trading sessions. On comparison, the S&P BSE Sensex was down 2.2% since May 10, 2018.

Bajaj Finance had reported a better than expected 60% year on year (YoY) jumped in its standalone net profit at Rs 7.21 billion in March quarter (Q4FY18). Net revenue from operations grew 40% at Rs 23.43 billion against Rs 16.78 billion in the corresponding quarter of previous fiscal.

Assets quality of the company improves during the quarter with gross non-performing assets (NPA) and net NPA as of March 31, 2018 stood at 1.48% and 0.38% respectively.

“As required by RBI guidelines, the Company has moved its NPA recognition policy from 4 months overdue to 3 months overdue in this financial year. The comparable Gross and Net NPA on 4 months overdue stood at 1.28% and 0.29% respectively as against 1.68% and 0.44% respectively as of March, 31 2017,” Bajaj Finance said in a press release.

Why are More People Applying for Personal Loans?

WHY DO PEOPLE PREFER PERSONAL LOANS

There are many factors that make Personal Loans more attractive.

• Easy to get: Personal Loans are easier to obtain than many other types of loans.
• Flexible usage: You can use the funds in a variety of ways. You can use it to pay for a vacation or a medical emergency. You can use it to fund a wedding, renovate a house, and more.
• Quick process: It can take as little as three days to get approval for a Personal Loan. Just make sure you have all the necessary documentation.
• No collateral: Personal Loans are unsecured loans. In other words, they are not backed by any collateral. This helps reduce the documents required for your loan application or even the duration of the vetting process.

You can even apply for a PERSONAL LOAN from the convenience of your home. All you need to do is visit the lender’s website. An application for a Personal Loan from Bajaj Finserv , for instance, usually takes seconds for approval and you can get funds of up to Rs.25 lakh in as little as 72 hours.

The bottom line

Personal Loans are popular today, but it is important that you opt for a professional lender to avail financing. Keep the various factors in mind when you apply for a Personal Loan and take the first step towards fulfilling your financial goals. (read more…)