Professional Documents
Culture Documents
Certificate from 2
Company/Organization
Certificate from Guide 3
P Acknowledgement 4
a Declaration from student 5
g
e List of table 8
| List of chart 8
1 Executive Summary 9
1 Introduction 10
1.1 Background Of The Study 11
II Research Methodology
1
2.1 Research design
2.3 Questionnaire
Page | 2
2.4 limitation
Customer feedback
IV Findings
V Conclusions
VI Recommendations
Bibliography
Appendices/Annexure
2
A PROJECT REPORT ON
WORKING CAPITAL MANAGEMENT
UNDERTAKEN AT
BAJAJ FINSERV LTD, SURAT
IN PARTIAL FULFILMENT OF
POST GRADUATE DIPLOMA IN MARKETING MANAGEMENT
MIT SCHOOL OF DISTANCE EDUCATION, PUNE
GUIDED BY Mr. SHASHANK PARIHAR
SUBMITTED BY
LAKHAN SAO
STUDENT REGISTRATION NUMBER
MIT202100833
MIT SCHOOL OF DISTANCE
EDUCATION,
PUNE - 412105
YEAR 2022-202
Page | 1
CERTIFICATE EXEMPTION
To
The Director
MIT School of Distance Education,
Respected Sir,
This is to request you to kindly exempt me from submitting the certificate from my
organization for Project Work due to the reason mentioned below:
1
Page | 2
DECLARATION
I hereby declare that this project report entitled “ PRODUCT AND BRAND
MANAGEMENT, BAJAJ FINSERV LTD” is a bonafide record of the project work carried
out by me during the academic year 2022-2023, in fulfillment of the requirements for the award
of POST GRADUATE DIPLOMA in Marketing Management (PGDM) of MIT School of
Distance Education, Pune.
This work has not been undertaken or submitted elsewhere in connection
with any other academic course.
Lakhan Sao
Student ID: MIT202100833
2
Page | 3
ACKNOWLEDGEMENT
I would like to take this opportunity to express my sincere thanks and gratitude to
Mr. Shashank Parihar of Bajaj Finserv Ltd, Adajan, Surat for giving me an opportunity to
do my project work in your esteemed organisation and it has indeed been a great learning and
enjoyable experience.
I would like to express my deep sense of gratitude and profound thanks to all staff
members of Bajaj Finserv Ltd, Adajan, Surat for their kind support and cooperation which
helped me in gaining lots of knowledge and experience to do my project work successfully.
At last but not the least, I am thankful to my Family and Friends for their moral
support, endurance and encouragement during the course of the project.
Lakhan Sao
Student ID: MIT202100833
3
Page | 4
4
Page | 5
ABSTRACT
I have taken marketing as a specialization with the title of "STUDY OF BAJAJ FINSERV
CONSUMER DURABLE LOAN PROCEDURE" The objective behind this project was to
primarily focus on Module- Operandi of Bajaj Finance for Finance in Consumer Durable
products. This required a firsthand experience in understanding end to end process flow for
loans processing to payment disbursement. I was working in Bajaj Finserv located in Adajan,
Surat. I have collected the first hand data as well as secondary data from Books, Company
Annual Report & internet Articles etc. Bajaj Finserv was the first company who started purely
consumer durable loan segment.
I also focused on the surrogates required for loan approval, documents necessary for approval of
loan and also to show the SWOT analysis of Company. I have also tried to explain the loan
procedure and its approval by enclosing some case studies. Through this project, I learn now
days what are the approach and preferences of the customer towards consumer durable loan
product and how to solve customer difficulties regarding the documentation. I was dealing with
proper customer, provided them loans by completing their files and getting the approval online
form Bajaj Server called as "SFDC (SALES-FORCE)" Portal. This process helped me to
better understand the Loan procedure of Consumer durable product at Bajaj Finserv Lending.
5
EXECUTIVE SUMMARY
I have taken marketing as a specialization with the title of "A STUDY OF BAJAJ FINSERV
Page | 6
CONSUMER DURABLE PRODUCT" The objective behind this project was to primarily
focus on Modus Operandi of Bajaj Finance for Finance of Consumer Durable products. This
required a first hand experience in understanding end to end process flow for loans processing
to payment disbursement. I have collected the first hand data as well as secondary data from
Company Annual Report & internet Articles etc. Bajaj Finserv was the first company who
started purely consumer durable loan segment.
I also focused on the surrogates required for loan approval, documents necessary for approval of
loan and also to show the SWOT analysis of Company. I have also tried to explain the loan
procedure and its approval by enclosing some case studies. Through this project, I learn now
days what are the approach and preferences of the customer towards consumer durable loan
product and how to solve customer difficulties regarding the documentation. I was dealing with
proper customer, provided them loans by completing their files and getting the approval online
form Bajaj Server called as "SFDC" Portal. This process helped me to better understand the
Loan procedure of Consumer durable product at Bajaj Finserv Lending.
6
Page | 7
TABLE OF CONTENT
7
Page | 8
CHAPTER NO 1
INTRODUCTION
Bajaj Finserv was formed in April 2007 which is situated in 4TH Floor, Bajaj Finserv Corporate
Office, Pune-Ahemednager Road Viman Nagar, Pune 411014, Maharashtra. As a result of its
demerger from Bajaj Auto Limited to act as a pure play financial services business. The process
of demerger was completed in Feb 2008. This demerger was not only to unlock values in the
high growth business areas of Auto, Insurance, Finance sectors and Wind Power but also to runin
dependently these core businesses and to strengthen the competencies. The wind power project,
the stakes in the life and general insurance companies and consumer finance along with their
respective assets and liabilities got vested in Bajaj Finserv Limited.
In addition to that cash and cash equivalent of INR 8,000 million (then market value) was also
transferred to the company. The demerger has enabled investors to hold separate focused stocks
and also facilitate transparent benchmarking of the companies to their peers in their respective
industries. The constantly changing demographics and dynamics of the Indian economy, has led
to creation of various needs of the average Indian customer. The Indian customer now demands
proper avenues of channelizing their savings, financial protection and is also desirous of
spending more on valuable goods and services. All these wants need to be met by dynamic
players in the financial services space. Bajaj Finserv was formed specifically to cater to the
needs. The company was also formed to touch and improve the lives of a growing number of
people in the country, and in doing so, deliver superior corporate values to its shareholders.
The operating companies carry with them the Bajaj brand, which carries with it decades
of commitment to business ethics, integrity and highest standards of fiduciary
responsibility.
Bajaj Finservhas strong foothold in the Indian financial market, due to its customer-centric
approach and focus on technology innovation. Bajaj Finserv digitally transformation has
introduced various digital methods which gives the customer a better experience which help
8
customers in loan applications, digital payment options, and they are user-friendly mobile apps.
Throughout its journey, Bajaj Finserv has strived to bring invention and convenience to its
customers. The company embraced technology and digital platforms to streamline processes and
enhance the overall Page | 9
9
client experience. It introduced stoner-friendly digital platforms and mobile operations, making
it easier for guests to pierce fiscal products and services at their convenience.
Page | 10
Difference between NBFC AND COMMECRICAL BANK
Sr .No NBFC Commercial Bank
1 It is no facility to issue cheque against bank The cheque can be deposits issued against
deposits. bank.
2 Higher Rate of interest on loan Lesser rate of interest on loan
"Finance is the management of money and other valuables, which can be easily converted into cash.”
A category of stocks containing firms that provides financial services to commercial and retail
customer. This sector includes banks, investment funds, insurance companies and real estate.
Financial services perform best in low interest rate environments. A large portion of this sector
generates revenue from mortgages and loans, which gain value as interest rates drop.
Furthermore, when cycle is in an upswing. the financial sector benefits from additional
investment improved economic condition usually lead to more capital projects and increased
personal investing.
New projects require which usually leads to a large number of loans. “ Finance” is often defined
simply as the management of money or “funds” management. Modern finance, however. is a
family of business activity that include the origination, marketing. And management of cash and
money surrogates through a variety of capital accounts, instruments, and markets created for
transaction and trading assets, liabilities,
10
and risks. Finance is conceptualized, structured. and regulated by a complex system of power
relation within political economies across state and global market.
11
buyer and then disburses the full amount to the dealer. The financier then recovers the balance
amount “Consumer durable finance means to provide the finance on the consumer durable
product like, washing machine, TV etc. it is known as consumer durable finance”.
The consumer durable finance provide the 0% interest on durable product to the consumer, This
gives customers another compelling reason to opt for 0% interest Consumer Durables
Finance for their durables purchases. Consumer durables finance schemes are generally available Page | 12
at the dealer location (point of sale) or the showroom in 8 monthly installments.
Schemes Description
12/4 It means the 4 months payment will be taken as an advance and
remaining payment will be distributed in8 months.
12
CHAPTER NO 2
Page | 13
ORGANIZATION PROFILE
Bajaj Fiserv Lending continues to be the largest driver of this growth this puts Bajaj Finserv Lending in
a clear leadership position. Today, one out of every 5 flat panel TVs is bought on the 0% interest
consumer durables loans option from Bajaj Finserv Lending.
2.1 5 main important points on which Bajaj Finserv plays a significant role, and they are in:-
I. Wide Range of Financial Products: Bajaj Finserv offers portfolio of fiscal products and services,
includes lending, insurance, wealth operation, and asset operation. The company provides various types of
loans similar as personal loans, home loans, business loans, and consumer durable loans. It also offers life
insurance, general insurance, investment and wealth operation results, and asset operation service.
II- Digital Transformation: Bajaj Finserv plays important part in digital role with the help of new
technology which enhances client experience and streamline operations. The company offers digital
platforms and mobile operations, which help customer to fluently pierce and manage their fiscal
products and service.
III- Focus on Customer-Centric Approach: Bajaj Finserv always focus on customer satisfaction
and aims to provide better solutions which helps to meet individual financial needs. The company
focus convenience, transparency, and value-added services to its customers.
IV- Innovation and Technological Advancements: Bajaj Finserv continues to innovate and launch
new products and services which can easily help in needs of its customers. The company always invests
in research and development, technology to bring new and easy financial solutions to the market.
V. Strong Market Presence: Bajaj Finserv has a wide network of branches and partners across India, ensuring a strong
market presence and accessibility to customers.
13
2.2 Vision of the Organization:
Continual
Improvement.
Focus on value based
lending.
Total elimination of fraud practices.
14
2.4 Objective of the Organization:
Page | 15
Our main objects as contained in our Memorandum of Association include:
To Finance industrial by way advance ,deposit or lend money, securities and propertied or with any
Company, Body corporate, trust, firm, person or association whether falling under the same management or
otherwise, with or without security and on such terms as may be determined from time to time, and to carry
on and undertake the business of finance and investment and to provide venture capital, seed capital, loan
capital and to participate in equity preference share capital or to give guarantees on behalf of the company in
the matter and to promote companies engaged in industrial and trading business and to act as Financial
Consultants, Management Consultants, Brokers, Dealers, Agents and to carry on the business of share
broking, money broking ,exchange broking, bill broking and general brokers for shares ,debentures,
debenture-stock, bonds, units, obligations, securities ,commodities, bullion currencies and to manage the
funds of any person, firm, body corporate or trust by investment in various avenues like Growth Fund,
income fund, risk fund, tax exempt funds, pension /superannuation funds and to pass on the benefits of
portfolio investments to the investor as dividends, bonus, interest, etc.
1. Cash Flow Management: Bajaj Finserv would nearly cover its cash inflows and outflows to insure
acceptable liquidity for its operations. This involves effective operation of collections, payments, and cash
conversion cycles to optimize the company's cash position.
2. Credit and Receivables Management: Bajaj Finserv would have programs and processes in place
to manage credit and receivables effectively. This may include assessing creditworthiness of customers,
setting applicable credit terms, covering receivables, and enforcing collection strategies to minimize bad
debts.
3. Payables Management: Bajaj Finserv would aim to optimize its payables operation by
negotiating favorable payment terms with its suppliers and merchandisers. This allows the company
to manage its cash outflows efficiently and maintain good connections with its business partners.
4. Inventory Management: While force operation may not be as applicable for a fiscal services
company like Bajaj Finserv compared to manufacturing or retail businesses, it may still have certain
inventory requirements. Bajaj Finserv holds physical means or force for its operations, it would apply
applicable force control measures to minimize holding costs and insure effective application.
15
5. Working Capital Financing: Bajaj Finserv would use utilize various financing options to meet
its working capital conditions. This could include short- term borrowing, lines of credit, and
securitization of means to raise finances when demanded. Effective working capital backing
helps the company optimize its cost of capital and maintain a healthy balance between liquidity
and profitability.
Page | 16
Overall, Bajaj Finserv, like any financial services company, would focus on managing its
working capital effectively to ensure smooth operations, maintain liquidity, and maximize its
financial performance. The specific strategies and practices employed by Bajaj Finserv in its
working capital management would depend on various factors such as its business model,
industry dynamics, and regulatory requirements.
16
2.5 PRODUCT PROFILE OF THE COMPANY
Page | 17
Bajaj Finserv Limited is the most diversified non-bank in the country, the largest financier of
consumer durables in India and one of the most profitable firms in the category.
Here under are summary details of our portfolio of businesses, with a brief description on each:-
PERSONAL LOAN:
A personal loan is an amount of money you can borrow to use for a variety of purposes. For
instance, you may use a personal loan to consolidate debt, pay for home renovations, or plan a
dream wedding. Personal loans can be offered by banks, credit unions, or online lenders. A
personal loan allows you to borrow a lump sum of money to pay for a variety of expenses and
then repay those funds in regular payments, or installments, over time. Personal loans may be
secured or unsecured. A secured personal loan is one that requires some type of collateral as a
condition of borrowing. For instance, you may secure a personal loan with cash assets, such as a
savings account or certificate of deposit (CD), or with a physical asset, such as your car or boat.
17
SME Lending
Page | 18
SME lending offers unsecured and secured loans to small businesses. It consists of working
capital loans and term facilities to SMEs, MSMEs and professionals. Secured loans to SME and
MSME customers are offered against their residential property, commercial property or used
four-wheeler.
Businesses Loan:
A business loan is a loan specifically intended for business purposes. As with all loans, it
involves the creation of a debt, which will be repaid with added interset. There are a number of
different types of business loans, including bank loans, mezzanine financing, asset-based
financing, invoice financing, microloans, business cash advances and cash flow loans.
Commercial Lending:
A commercial loan is a financial instrument that business owners can avail of to address any
short-term capital needs. The sanctioned amount can be used to increase the working capital,
acquire new machinery, build new infrastructure, meet operational costs, and such
expenditures.
Home Loans:
A home loan is an amount an individual borrows from a financial institution such as a housing
finance company to buy a new or a resale home, construct a home or renovate or extend an
existing one. The money is borrowed at a specific interest rate and repaid within a particular
duration in smaller installments known as EMIs (Equated monthly installments).
There is no restriction on how the borrower uses the amount sanctioned through this loan. It
can be used to meet any personal or business requirements.
This loan option allows raising funds against an owned commercial or residential property to
meet funding requirements. The sanctioned loan value depends entirely on the property’s
market value.
18
Lease Rental Discounting (LRD):
Lease Rental Discounting (LRD) loans work on the premise of rental properties being owed a
fixed amount of rent. Tenants enter into a lease with the owner of the property. This agreement
mandates a regular payment which is known as rent . The property owner can use rental receipts
drawn up for the duration of the lease as collateral while applying for a loan. Page | 19
ORGANIZATION STRUCTURE
19
Page | 20
Bajaj Finserv geographic presence spans 3,504 locations across the country, including 2,136 locations in rural/
smaller towns and villages. Our overall distribution network is 133,200+.
20
Page | 21
21
1. Digital Transformation: Given the increasing importance of technology and digital
platforms, Bajaj Finserv may continue to invest in digital transformation initiatives. This could
involve enhancing their digital offerings, improving online and mobile banking services, and
exploring new technologies to provide a seamless and convenient customer experience.
Page | 22
2. Expansion and Market Penetration: Bajaj Finserv may have plans to expand its presence
further across India and potentially explore opportunities in new markets. This could involve
opening new branches,
3. Product Innovation: Financial services companies often focus on developing new and
innovative products and services to meet evolving customer needs. Bajaj Finserv may continue
to introduce new financial solutions, enhance existing offerings, and tailor their products to
specific customer segments.
4. Focus on Financial Inclusion: Bajaj Finserv may have initiatives to promote financial
inclusion and expand access to financial services for underserved populations. This could
involve reaching out to rural areas, partnering with microfinance institutions, or introducing
products specifically designed for low- income individuals and small businesses.
5. Sustainability and ESG (Environmental, Social, and Governance): Bajaj Finserv may
incorporate sustainability practices and consider environmental, social, and governance factors in
their operations and decision-making. This could involve initiatives related to responsible lending,
renewable energy financing, and philanthropic efforts.
It's important to note that the future plans and strategies of a company like Bajaj Finserv can
vary and are subject to market conditions, regulatory changes, and internal priorities. For the
most accurate and up-to- date information, it is recommended to refer to official
announcements, reports, and statements from Bajaj Finserv..
22
2.7 DIRECTORS OF COMPANY
Page | 23
23
Page | 24
24
CHAPTER NO 3
Bajaj Finance has been spending ahead of the curve on technology. Its complete tech
architecture is built on the cloud which helps in scaling up or down the infrastructure as
required. Moreover, the data lake created from the data captured by working with 1.2 lakh
retailers, is used to perfect the credit model with AI + ML technologies.
25
3.2 Strong customer acquisition machinery
Fintechs focus on strong customer acquisition through high engagement tools, primarily
through payments. Take the example of PayTM, Google Pay, or PhonePe, they all start with
wallets and payments, as it is a high engagement activity that drives brand reinforcement. Page | 26
And then, these players make money by cross-selling other financial products like loans,
insurance, and investment.
For Bajaj Finance, customer acquisition happened through no-cost EMI loans, which are
essentially Buy Now Pay Later(BNPL) loans (the buzzword of FinTech currently). Along with
these loans, most customers will be offered EMI cards, which could be used for other such
purchases.
Apart from customer acquisition, the other big benefit from payments is the amount of data that
is generated through regular transactions. For the player with the right data analytical capability,
this data is a goldmine of sorts that helps in identifying the best customers and improving the
credit-underwriting model.
Bajaj Finance has over the years, built a detailed database on its potential customer base.
Currently, the customer franchise stands at 50 mn. Of these, depending on its data analytics,
Bajaj Finance finds 56% of customers suitable for cross-selling other loans.
Over the years, Bajaj Finance has focused on cross-selling loans to its existing customers,
which as per the management has a risk of 0.15x default in comparison to new customers.
Today, around ⅔ loans are made to existing customers.
Technology
Technology is at the forefront of BFL’s business transformation journey and it has continuously
leveraged existing and emerging technologies to launch new products, accelerate customer
acquisition and improve customer experience along with simplifying the back-office processes.
The Company has embarked on a major business transformation journey i.e. the ‘omnichannel’
model to build dominance across all mediums of consumer presence covering physical, app,
web and social. This model is expected to deliver significant business velocity, reduction in
operating costs and significant improvement in customer experience.
The Company has made significant changes to its enterprise technology architecture to deliver
the ‘Omni channel’ model and meet the on-demand scaling requirement for high velocity
26
transaction volumes. The Company has re-built its customer facing mobility app with:
• Payments stack: wallets, UPI, bill pay service, single payment checks out gateway.
Page | 27
• Customer engagement features: through its app programs, rewards, offers, deals,
location-based services.
• Enhanced service engagement features and information with robust search mechanism for
loans and deposits.
EMI CARD
Eligibility Criteria
Most lenders (Banks & NBFCs) offer consumer durable loans to both salaried and self-
employed individuals. The eligibility criteria for a consumer durable loan may vary depending
upon the applicant’s profile, repayment history, income, loan amount, etc. Below mentioned is
the eligibility criteria required by lenders for consumer durable loan:
Salaried Individuals:
year.
Self-employed Professionals:
27
Age: Minimum 21 years and Maximum 68 years
Minimum Income: Rs. 1.5 lakh
Employment Stability: At least 2 years in the current business
Page | 28
Features and Benefits
The Bajaj finance EMI card is the innovation to bring new technology to consumer durable
loans. It is very easy to communicate with customer.
Pre-Approved eligibility:
The EMI card carries a pre-approved loan in our wallet. We can avail of our loan facility to
purchase any consumer durable & lifestyle product of our choice.
28
Page | 29
compared to Bajaj
29
CHAPTER NO 4
Page | 30
Q1-GENDER
Total
Male Female
33%
67%
GENDER
1 Male 74 60
2 Female 36 40
Table:1.
Interpretation : It can be inferred that as many as 60% respondents are male and remaining 40% are female.
2. AGE?
30
Total
21-30 31-40 41-50 51 and above
Page | 31
3%
4%
45%
48%
In figure-2 It can be inferred that as many as 48% are between the age of 31-40 , 45% are between the
age of 21-30, 4% are the age between 41-50 and 3% are the age between 51 and above.
31
Q-3 Occupation ?
Sales
3% Page | 32
28%
Salaried
Self-Employed
Student
69%
Figure 3
Figure 3 It shows that 69% respondents are salaried person, 28% respondents are self-employed and 3% respondents
are students.
32
Q4- Anuual Income
Total
5000-20000 21000-35000 36000-50000 51000 and above Page | 33
13% 13%
13%
63%
In figure-4 It can be inferred that as many as 12% have income between 5000-20000,
62% have income between 21000-35000, 13% have income between 36000-50000 and
13% have income of more than 51000 and above.
33
Q5-From where do you prefer to buy consumer products?
Total
Organised retail Unorganized retail Page | 34
11%
89%
From figure-5- It can be inferred that 89% respondents buys consumer durable from organized retail and remaining 11% buys
from unorganized retail.
34
Q-6 Are you aware about the consumer durable loan availability?
Page | 35
Sales
Yes No
100%
In figure-6 it can be inferred that all respondents (100%) are aware of consumer durable loan.
35
Page | 36
Q-7 From where did you get to know about such loan option?
Total
Adveriseme Friends and Sales Other
nt Relative eeeExecutive s
0
%
22
%
41
%
37
%
In figure-7 41% respondents says that they know about the consumer
durable loan from adver tisement , 37% knows from their friends and
relatives and remaining 22% says that they know from sales executives.
36
Page | 37
Sales
Yes No
5%
95%
Figure-8
In figure 8- It can be inferred as many as 95% respondents already have EMI Card and
remaining 5% doesn’t have EMI Card.
37
Page | 38
Sales
Bajaj Finserv Ltd IDFC First Bank HDB Financial Services
4%
22%
74%
38
Grand Total 110
Infigure-9- It can be inferres that as many as 74% have and EMI Card with Bajaj Finserv
Page | 39
Ltd, 22% have Idfc First Bank and remaining 4% holds HDB Financial Services Card.
Q10- Which modes of payment do you most often prefers to use for consumer durables?
Sales
Cash Credit Card EMI
9%
23%
68%
39
Grand Total 110
Table-10
In figure-10 It shows that 68% respondents buys consumer durable by EMI and 09% buys by
cash and 23% respondents buys by credit card.
Page | 40
Total
Yes
100%
In figure 11- It can be inferred that 100% respondents had already had already bought consumer durables products
alread
40
Q-12 How often do you purchase consumer durables in a year?
Sales Page | 41
15% 13%
36%
36%
Figure-12
In figure-12 it show that 13% respondents says that they buy consumer durable 1 times in a
year,36% says that they buy twice a year, 36% says yhat they buy 3 times in a year and 15%
says that they buy more than 4 times a year.
Q-13 How frequently do you purchase consumer durable product through 0 % loan options?
41
Sales
Monthly Quaterly Seasonal Yearly
Page | 42
8%
28%
19%
45%
In figure-13 it can be inferred that 8% respondents buys loan in month, 19% buys in quarterly,
45% buys in a season , and remaining 28% buys yearly.
Q14- why do you prefer taking loan while purchasing consumer durable loans?
42
Sales
Insurance facility Remove immediate financial burden
Tax saving Zero interest rates
Page | 43
7%
17%
50%
25%
From figure-14 it can be inferred that 50% respondents buys a loan because of Zero interest rates, 26%
buys because of tax saving, 17% buys because of financial burden and reaming 7% for insurance
facility.
Q15- Which products did you purchase on consumer durable loan last time?
43
Sales
Laptop, Projector, etc
Mobile phones, Cameras, Tablet, DSLR, Audio Devices
Washing Machine, Fridges, Microwave Page | 44
5%
17%
77%
44
Q16-Do promotional scheme change your brand preference for consumer durable loan ?
Sales Page | 45
Yes No
34%
66%
From figure 16- It can be inferred that as many as 66% are dependent on promotional schemes and the
rest 34% respondents are loyal towars there brand.
45
Q17- What is your opinion on the performance of consumer durable loan service by your company ?
Page | 46
Sales
High satisfied Neutral satisfied Dissatisfied
8%
19%
42%
31%
In Figure 17- It can be inferred that as many as 19% respondents are high satisfied, 31% respondents are
neutral, 42% respondents are satisfied and the rest 8% respondents are dissatisfied.
46
Page | 47
Hypothesis to be tested
Annual income * Why do you prefer taking loan while purchasing consumer durable
products?
Crosstabulation.
Count
Why do you prefer taking loan while purchasing consumer durable Total
products ?
1 2 3 4
1 7 2 2 0 11
2 41 11 3 0 55
Annual
Income 3 5 6 17 5 33
4 2 0 6 3 11
55 19 28 8 110
Total
47
Chi-Square Tests
Value Df Asymp. Sig. (2-
sided)
9
Pearson Chi-Square 54.437a .000
9 Page | 48
Likelihood Ratio 61.983 .000
1
Linear-by-Linear Association 35.913 .000
a. 8 cells (50.0%) have expected count less than 5. The minimumexpected count is .80.
Interpretation: Here, value of chi-square is .000 which is lesser to .05 so Ha will be accepted therefore, Income
groups and customer preference are depedends on each other.
Reliability Statistics
Cronbach’s No. of Items
Alpha
.473 17
FINDINGS
From survey it was found that male customers for financing the product are more than females.
It was found that Salaried people buy more compared to student and self-employed.
It is seen that people who have their monthly income between 10,000-20,000 take the benefit of
financing their product as compare to other high income earning people.
According to survey, most of the consumer coming to the store were buying consumer
electronics were financed as compare to digital & home appliance as an digital product there was
processing fee charged for finance so, people get more of consumer electronics financed.
48
Most of the of people are not aware of Bajaj EMI card.
38% of the customers rated 5 out of 5 to the services of bajaj finserv and 29% rated 4 out of 5,
21% of the customer rated 3 out of 5, 10% of the customer rated 5 out of 2 , 2% of the
customer rated 1out of 5
From survey it was found that more people wanted to know about the future offers of Bajaj
finserv.
RECOMMEDATION
There is no awareness about 0% finance scheme to customers. So, Therefore, BFL should
make its customers aware about the 0% finance schemes.
The quality of hiring support staff is not up to the mark as they fail to serve the customer in
absence of SE(Senior Executive)
Customers don’t carry all the required document all the time and some of them don’t want to
come again. This happens mainly due to lack of proper information.
Customers think that BFL will take some hidden charges from them, if they take durable loan at
0% from Bajaj Finserv. So the BFL removes the wrong thinking of customer and to explain in
detail loan procedure.
More Scheme plan should be incorporated for non- credit card user as they are more in
number and are more prospecting customer.
BFL initially have the system of swiping of EMI card but due to some difficulty they stopped it,
I think Bajaj should work upon this as this can save more time for customer as well as for Sale
Executive and he can serve more non-EMI card user and convert them into EMI card holder.
CONCLUSION
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Bajaj finance provides personal loans, home loans, loans on two and three wheelers, loans
against securi- ties and insurance services. Bajaj FinServ focuses on the lending procedure of
consumer goods and digital products. The company provides loans on 0% interest. On top of
this, there are various schemes which have Zero-Down payment facility, and it also provides
EMI cards. It was found that more customer were happy and liked the interest free service
provided. The customers of Bajaj finance are very satisfied with the services. I learned that how Page | 50
to present the schemes to the customer.I have done login on the system and take approval and
generate DO(delivery order) for customer . Therefore I feel that Bajaj finance ser- vice is the
strongest finance service provider for consumer durable products.
Bibliography
https://www.bajajfinserv.in/finance-digital-annual-report-fy22/mda.html
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