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Welcome to Mahindra Finance; one of India's leading non-banking finance companies
 
 
 
  Home > FAQs > Product
 
 
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Q1)
Q2) Does Mahindra Finance offer loans for non-Mahindra products?
Q3) How do I approach Mahindra Finance for a loan?
Q4) What is the eligibility criterion for availing a loan from Mahindra Finance?
Q5) What are the minimum & maximum loan amounts?
Q6) What are the loan tenure options?
Q7) What are the lending rates?
Q8) What documents do I need to submit to avail a loan from Mahindra Finance?
Q9) What are the stages involved in acquiring a loan?
Q10) How much time will it take for my loan to be approved?
Q11) How do I repay my loan?
Q12) What is an EMI or monthly installment?
Q13) What is the down payment?
Q14)

I have already taken a consumer/auto/home/personal loan from Mahindra Finance. Can I still take a loan now?

Q15) Will Mahindra Finance help me in exchanging my old vehicle?
 
If you have not found an answer to your question do write to us
 
Q1)
What are the advantages of choosing Mahindra Finance?
Ans)
Flexibility:
There is flexible documentation hence paperwork is processed faster.
You enjoy a flexible payback period.
Reach :
You have access to a strong network of branches in rural and semi-urban India
Speed:
Enjoy faster disbursements of your loan on approval
Personal Touch:
You deal with intelligent and efficient executives, which means your loan is disbursed within 2 days
   
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Q2) Does Mahindra Finance offer loans for non-Mahindra products?
Ans)
Yes. We do offer loans for non-competing, non-Mahindra products like cars, two-wheelers, commercial vehicles, construction equipment etc.
   
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Q3) How do I approach Mahindra Finance for a loan?
Ans)
Simply contact or visit your nearest Mahindra Finance branch. You can even apply online, and we’ll get in touch with you shortly.
   
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Q4) What is the eligibility criterion for availing a loan from Mahindra Finance?
Ans)
Eligibility for a loan from Mahindra Finance depends on the individual and product, and all loans are given at the sole discretion of the Company. (Click here for details)
   
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Q5) What are the minimum & maximum loan amounts?
Ans)

Loan amounts can vary depending upon the specific vehicle, requirement and the credit of the loan applicant. We extend funding up to 100% based on the requirement and assessment of the individual and the policies of each product.

   
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Q6) What are the loan tenure options?
Ans)

Our innovative and flexible repayment tenures are designed on a case to case basis and suit the need of every borrower, with convenient and comfortable schedules. We offer monthly, quarterly and half-yearly repayment schedules dependent on product type.

   
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Q7) What are the lending rates?
Ans)

At Mahindra Finance, we believe in customising loans to suit every need so that we continue to offer only the best and most competitive interest rates.

Various factors like loan amounts, land holding/property owned, viability of the proposition and the underlying documentation provided, determine the rate of interest offered on a loan.

   
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Q8) What documents do I need to submit to avail a loan from Mahindra Finance?
Ans)

Our documentation process is transparent, hassle-free and flexible. Though documents required are largely product specific, there are some basic documents that you will need to provide. (Click here for details)

   
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Q9) What are the stages involved in acquiring a loan?
Ans)

Obtaining a loan involves the five following basic stages:

 
Application for the loan
Approval of the loan
Collection of initial payment and documents
Issuing of a Delivery Order
Delivery of the vehicle
  (Click here for details)
   
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Q10) How much time will it take for my loan to be approved?
Ans)

Our extensive network of branches at over 400 locations, speedy and simple documentation process and the capability of our executives to take quick, smart decisions make sure that the process of obtaining a loan is a quick and smooth one. In fact, the entire process is completed in just 2 days*!

  * Conditions apply
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Q11) How do I repay my loan?
Ans)

Our innovative and flexible repayment schedule is designed on a case to case basis and suits the need of every borrower, with convenient and comfortable repayment methods. You can repay via post-dated cheques, demand drafts as well as cash.

   
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Q12) What is an EMI or monthly installment?
Ans)

A loan is normally repaid with a monthly installment. Usually the monthly installment is an EMI (equated monthly installment), an equal amount that, if paid every month over the tenure of the loan, results in fully paying off the loan taken.

At Mahindra Finance, we believe in customising loans to suit every need so that we continue to offer only the best and most competitive interest rates.

(Click here for details)

   
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Q13) What is the down payment?
Ans)
The down payment is a balance between the vehicle price and the loan amount. However, you can choose to make a higher down payment depending upon the finance option and your personal needs.
   
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Q14)

I have already taken a consumer/auto/home/personal loan from Mahindra Finance. Can I still take a loan now?

Ans)
Definitely, simply provide us with the loan number(s) of your existing Mahindra Finance Loan (s), and we will consider them. What’s more, since you are a privileged Mahindra Finance customer, the processing of your loan will be faster and simpler with minimum documentation required.
   
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Q15) Will Mahindra Finance help me in exchanging my old vehicle?
Ans)
Yes, through the dealer. Our executive will be happy to introduce you to a dealer for second-hand vehicles.
   
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