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Three Wheeler Loans

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S K Rabbani

Today, I've regained my confidence and happy about doing well in my motherland.

I used to be a taxi driver in Mumbai for six years. But a dire need of money forced me to leave my motherland and migrate to Saudi Arabia to earn a living...

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- Mr. S.K. Rabbani, Hyderabad

*Images are for reference only. Actual customer images may vary.
Three Wheeler

From repairing vehicles to owning one!

I started working at the age of 10 at a garage and grew up working there as a mechanic. Then one day, a Bajaj 3-Wheeler came in for repair. I decided to buy it. So I arranged for the money from my relatives and the savings I already had. I used the vehicle for around six to seven years...

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- Mr. Mohammad Basheer, Hyderabad

*Images are for reference only. Actual customer images may vary.
  • Features & Benefits
  • Eligibility & Documentation
  • FAQs
  • We cover the widest range of three-wheelers in India
  • Flexible repayment options, ranging from 12 to 36 months
  • 3 wheeler loans sanctioned within 48 hours
  • Enjoy hassle-free documentation
  • Multiple plans customised to match your needs
  • Competitive rates of interest

Eligibility:

  • Individual between 21 to 58 years of age.

Documents required:

  • KYC Documents
  • Income proof
  • Pan card copy
  • Two security cheques
  • Two passport-sized photographs

FAQs:

Three Wheeler Loans

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Do you finance all makes of three wheelers?

Yes, we provide finance for all three wheelers that are currently available in the Indian market.

What is the maximum finance amount of loan available?

The finance amount is based on vehicle bought and the profile of the customer.

Do you finance the vehicles alone or the accessories as well?

We do not fund any accessory unless it is a standard fitting.

What is the interest rate for loans?

The interest rates offered are comparable with the best in industry and are determined by the location of the customer, tenure of loan and customer profile.

For what period the loan is available?

The three wheeler loan is available for a maximum period of 4 years.

How much time do you take to sanction a loan?

Normally, the approval is accorded in one working day on submission of all the required documents. To check the documents required, click here.

Do you need any collateral security?

No, collateral security is not required.

Will you require a guarantee always?

Not always.

What should I do in case I wish to replace my PDCs?

To do so, you can send your request through one of our nearest branches. Please see 'Our Network' to view a list of our branches.

Can I remit the instalments in any branch?

Yes. You can remit your instalments in any of our branches. Click here to view a list of our branches.

What is the procedure in case I wish to foreclose my account?

Under the finance agreement, foreclosure is not contemplated. However, upon your specific request, we may advise the settlement amount to you and on remittance of the same the necessary termination papers would be issued.

What should I do when my contract tenure gets over?

On payment of the last instalment and any other dues as per the agreement, the termination papers including the RTO related papers would be issued.

What papers do I have to collect on termination?

The Termination letter, The No-Objection letter addressed to the RTO and Insurance endorsement cancellation letter.

What should I do in the case of address change? Whom should I intimate?

You can intimate the branch, which you normally deal with. Else, you can email us by clicking here.

Is third party insurance cover alone sufficient?

No, comprehensive coverage is required.

Do you insist that insurance has to be done only through your agent? Can I take responsibility for insurance on my own?

We do not insist on this, but please take care to arrange for comprehensive insurance and produce the policy copy with our endorsement in time. However, if you pay the premium along with monthly instalments s we can take care of your insurance needs.

Will you give me a copy of the agreement duly filled in for my records?

Yes, a copy of the agreement will be provided to the applicant.

© 2014 Mahindra Finance

CIN - L65921MH1991PLC059642

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