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Finance FAQs

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What are the advantages of choosing Mahindra Finance?

Flexibility:

The documentation involved follows a smooth process, and hence, the paperwork is processed faster. Not just that, you also enjoy a flexible payback period.

Reach:

You have access to a strong network of branches in rural and semi-urban India.

Speed:

You also enjoy faster disbursements of your loan on approval.

Personal Touch:

Our team of intelligent and efficient executives ensures your loan is disbursed within 2 working days.

Does Mahindra Finance offer loans for non-Mahindra products?

Yes. We do offer loans for non-competing, non-Mahindra products like cars, two-wheelers, commercial vehicles, construction equipment etc.

How do I approach Mahindra Finance for a loan?

You can simply contact or visit your nearest Mahindra Finance branch to enquire about a loan. You can even apply online, and we’ll get in touch with you shortly.

What is the eligibility criterion for availing of a loan from Mahindra Finance?

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.

What are the minimum and maximum loan amounts?

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.

What are the loan tenure options?

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 depending on the product type.

What are the lending rates?

At Mahindra Finance, we believe in customising loans to suit the needs of every type of customer. And so, keeping this in mind, we offer only the best and most competitive interest rates.

Additionally, 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.

What documents do I need to submit to avail of a loan from Mahindra Finance?

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 namely address proof and identity proof.

What are the stages involved in acquiring a loan?

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
How much time will it take for my loan to be approved?

With an extensive network of branches at over 1000 locations that includes capable executives who take quick, smart decisions, loan approval does not take long. Thanks to our speedy and simple documentation procedures, the process of obtaining a loan is quick and smooth. In fact, the entire process is completed in just two days*!

* Conditions apply

How do I repay my loan?

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 or cash as well.

What is an EMI or monthly instalment?

A loan is normally repaid with a monthly instalment. Usually, the monthly instalment is an EMI (equated monthly instalment), an equal amount that, if paid every month over the tenure of the loan, results in fully paying off the loan taken. We offer competitive interest rates on EMIs.

What is down payment?

Down payment is a portion of available money given at the outset of a loan to demonstrate commitment to the purchase.

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

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 already are a privileged Mahindra Finance customer, the processing of your new loan will be faster and simpler as minimum documentation will be required.

Will Mahindra Finance help me in exchanging my old vehicle?

Yes, we can provide help for the same through the dealer. Our executive will be happy to introduce you to a dealer for second-hand vehicles.

© 2017 Mahindra Finance

CIN - L65921MH1991PLC059642

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