Bajaj Markets, an arm of Bajaj Finserv Direct Limited, is a comprehensive online financial marketplace. It provides a wide range of financial products designed to meet the needs of both individual consumers and businesses. Let’s delve into the products they offer and see how Bajaj Markets could assist you in purchasing a new financial product.
Financial Products
1. Loans
The marketplace provides a wide range of loan products, each with specific features:
- Personal Loans: Bajaj Markets provides an array of personal loan options. These loans may be ideal for covering different expenses or financial goals. You can opt for a small ticket loan with amounts starting from just ₹500 to meet your immediate needs. On the other hand, you can borrow large amounts of up to ₹50 Lakhs to fulfil your ambitions. Interest rates charged on these loans start from 9.99% p.a. You may further benefit from quick disbursal and minimal documentation requirements.
- Home Loans: These loans are targeted at home buyers. These loans offer low interest rates, high amounts, and long repayment periods. You could borrow up to ₹15 Crores for tenures of up to 40 years. The loan amount could be used for the construction, purchase, or renovation of your home.
- Business Loans: You can borrow amounts as high as ₹50 Lakhs for interest rates starting from 9.75% p.a. These loans facilitate expansion, upgrades, or management of working capital. Apply for a business loan to enjoy collateral-free borrowing. You could further enjoy flexible repayment options that suit your needs and preferences.
- Loan Against Property (LAP): Get high loan amounts of up to ₹15 Crores by mortgaging your property. This loan provides instant access to funds, which can be used for various purposes. Since this is a type of secured loan, you can also get low interest rates starting from 9.24% p.a.
- Education Loans: This loan is designed for those pursuing degrees in India and abroad. You could pay up to 100% of your tuition fee and other related expenses with this loan. The eligibility criteria are quite simple, and the documentation required is minimal. You can borrow amounts of up to ₹60 Lakhs at interest rates starting from 11.50% p.a.
- Gold Loans: Instead of selling your gold for cash, consider using it as collateral for a loan. On Bajaj Markets, you can borrow up to 75% of your gold’s current market value with such loans. There are no credit score requirements, making it easier for those with poor or no credit score to access funds quickly. The interest rate charged on gold loans starts from 8.88% p.a.
- Professional Loans: These loans are specifically designed for professionals. The loan amount can be used to expand practices, invest in new equipment, and so on. You can borrow up to ₹50 Lakhs at interest rates starting from 11% p.a. The loan is collateral-free, and the funds are usually disbursed within 24 hours.
- Used Car Finance: This loan is for those looking to purchase pre-owned vehicles. It is one of the newest financial products introduced on the platform. You can get up to ₹77 Lakhs for a long tenure of up to 72 months with a used car loan.
- Two-wheeler Loans: This loan is an easy financing option for buying bikes and scooters. You can get a loan of up to 100% of the two-wheeler’s on-road value. This could help you purchase the bike of your dreams without incurring any large upfront costs. Furthermore, the interest rate charged on these loans can be as low as 0.99% p.a.
- Balance Transfers: These enable you to transfer your home loans and LAP from one lender to another. This could help you find potentially lower interest rates and improved repayment terms.
Each loan type is designed to meet specific financial needs. To check the complete list of loans available on the website. Click here.
2. Investment Options
Explore a variety of investment instruments that cater to different types of investors and financial goals.
- Fixed Deposits (FDs): You can invest in these low-risk investment options with just a few clicks. On Bajaj Markets, browse banks and NBFCs that offer FD interest rates of up to 9.40% p.a.
- Mutual Funds: Find 1100+ direct funds that cater to your investment goals. Choose from debt, equity, thematic, hybrid, multicap, and other types of funds. Pay zero distributor commission to get the most out of your investments. Utilise comparison tools and value research ratings to find the best option for yourself.
- U.S. Stocks: Don’t miss out on investment opportunities in major U.S. companies. Start investing with amounts as low as $1. You could also invest in fractional shares instead of complete shares on US stock exchanges.
- Sovereign Gold Bonds (SGBs): These are a great alternative to physical gold. SGBs are offered by the government and traded on stock exchanges. This low-risk investment avenue comes with an additional guaranteed interest rate of 2.50% p.a. As a commodity, SGBs are also subject to potential market appreciation, enhancing your returns.
- Bonds: These financial instruments offer steady returns, helping you build a secure future. Explore a diverse range of bonds on Bajaj Markets with a 100% digital KYC process and invest for long-term stability. Get started to benefit from a transaction time of only 5-7 minutes. Choose from corporate, PSU, convertible, government, and other bond types.
- National Pension Scheme (NPS): Invest in this PFRDA-regulated government-backed retirement scheme easily. Enjoy tax benefits of up to ₹2,00,000 as per provisions of the Income Tax Act of 1961. Apply for the scheme through an easy, quick, and simple online application process.
- New Accounts: Explore a variety of savings and demat account options to efficiently manage your funds and streamline your investments. Select the account that best aligns with your financial needs and goals.
3. Cards
On Bajaj Markets, browse a range of different types of cards to fulfil diverse needs:
- Credit Cards: Fulfil all your financial requirements and build your credit score with the help of a credit card. You can choose from over 30 options as per your needs and preferences. Provided below are some common types of credit cards you can apply for on the platform.
- Shopping Credit Cards: Offer rewards and discounts on both online and offline shopping
- Travel Credit Cards: Provide benefits like flyer miles and cashback on travel-related expenses
- Fuel Credit Cards: Offer rewards and surcharge waivers on fuel purchases
- Entertainment Credit Cards: Provide Benefits and discounts on dining, movies, and other activities
- Cashback Credit Cards: Provide rewards on everyday purchases and expenses
- Forex Card: These cards allow you to transact in multiple currencies and offer competitive exchange rates. Certain benefits of using forex cards may include zero point-of-sale terminal charges and free card insurance. This may cover instances such as loss, ATM assault, theft, and more.
- EMI Card: Consider opting for the Bajaj Finserv Insta EMI Card that comes with a pre-approved loan amount of up to ₹3 Lakhs. You can use this card to purchase products on no-cost EMI by making a minimal or zero down payment. This card enables you to access more than 1.5 lakh partner stores across 4,000+ cities in India.
4. Insurance
Bajaj Markets offers a comprehensive range of insurance products. In collaboration with leading insurers, it makes options across various categories easily available to you. This includes health, car, bike, and term insurance. Here’s a detailed overview of the types of insurance products available:
- Health Insurance: With premiums starting at just ₹160 per month, these affordable policies could help you get a cover of up to ₹2 Crores. You can enjoy coverage for pre and post-hospitalisation costs, day care treatments, and more. These are designed to ensure that medical expenses do not become a financial burden, with features like cashless claims at network hospitals across India.
- Car Insurance: For car owners can choose from comprehensive and third-party car insurance plans. These plans come with benefits such as cashless claim service at a wide network of garages and coverage for damage to the vehicle, theft, and third-party liabilities.
- Bike Insurance: Two-wheeler owners also have the option to get insured with comprehensive and third-party coverage options. It insures you against financial losses due to damage or theft of the bike, and covers liabilities towards third parties.
- Term Insurance: You can get cost-effective term insurance plans that provide long-term security for you and your family. It ensures that you are protected from financial liabilities for up to 50 years. These policies are affordable and can be conveniently purchased online. The term insurance policy comes with death benefits and optional riders like Critical Illness and Accidental Death for better coverage.
- Savings and Endowment Plans: Bajaj Markets facilitates versatile endowment plans that provide both death and survival benefits. These plans offer a sum assured and accumulated bonuses if you outlive the policy. With flexible premium payment options and critical illness or accidental death add-on covers, these plans provide comprehensive coverage.
- Pocket Insurance: Apart from traditional insurance policies, Bajaj Markets also offers 140+ pocket insurance products. These micro-insurance products are designed for affordability and to address niche needs. Pocket insurance policies offer coverage for your wallet, road trips, and even eyewear, among others.
5. Credit Health Reports
You can access your credit scores and detailed reports for free on Bajaj Markets. These help you better understand and manage your finances. Here are some key features and benefits of this facility:
- Comprehensive View: Provides a detailed view of your credit history and current credit score
- Tracking Changes: Allows you to monitor changes in your credit score over time
- Complete Understanding of Your Profile: Offers insights into factors affecting your credit score and how to improve it
- Easy Eligibility Checks: Shows how your credit score affects your eligibility for various loans
- Personalised Tips: Includes tips and recommendations on managing your credit more effectively
- Important Notifications: Alerts you to any potential issues or threats that might impact your credit status
You can access the report through the Bajaj Markets app or just check your score on the official website.
Bajaj Markets is a one-stop shop for all your financial needs. It enables you to access 100+ financial products from 80+ leading financial institutions in India. These include NBFCs like Bajaj Finance as well as banks like ICICI Bank and Kotak Mahindra Bank. Applying for these products is quite easy with the 100% digital application process.