New Delhi. : Bajaj Housing Finance announces a milestone achievement, surpassing Rs. 50,000 Cr. worth of Assets Under Management. The Company started functioning as an independent entity in March 2018 and has touched this milestone number in just four years of operations.
Bajaj Housing Finance crosses the Rs. 50,000 crore mark in terms of Assets Under Management in 4 years of operations as a separate entity
In the first year of operations, i.e., FY19, Bajaj Housing Finance touched its first milestone of Rs. 10,000 Cr. of Assets Under Management. The following year, the Company’s AUM surpassed the Rs. 25,000 Cr. mark, reaching Rs. 32,705 Cr. by the end of FY20.
Bajaj Housing Finance closed FY21 with an AUM of Rs. 38,871 Cr. The same year, the Company introduced a novel offering in the form of External Benchmark (Repo Rate) linked Home Loans – becoming the first Housing Finance Company (HFC) to offer its customers the choice to link their home loans to an external benchmark, i.e., the RBI Repo Rate. While the RBI mandates banks to link Home Loans to external benchmarks, such as the Repo Rate, HFCs can link their home loans to internal benchmark linked rates, also known as the Floating Reference Rate.