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Auto Loans & Utility Vehicle Finance

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Utility Vehicle

My life has changed completely.

I have a small business dealing in cattle feed. Before I approached Mahindra Finance, I used to purchase cattle feed from farmers and transport it via a three wheeler to a cattle camp, where I would sell the entire stock. It would earn me around Rs 7,000 – Rs 8,000/- at that time...

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- Mr. Salemamad Ibrahim Node, Bhuj

*Images are for reference only. Actual customer images may vary.
Utility Vehicle

I thank Mahindra Finance for helping me achieve success and stability in life.

My job is to pick up and drop kids to school in my vehicle. Earlier, I owned an auto, but it proved insufficient in handling the increasing number of students.At that point of time, I began hunting for used cars and luckily...

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- Mr. Hitendra Bhagwati Lal Shah, Vadodara

*Images are for reference only. Actual customer images may vary.
  • Features & Benefits
  • Eligibility & Documentation
  • FAQ
  • Flexible repayment options ranging from 12 to 60 months
  • Fast loan disbursement within 48 hours
  • Competitive rates of interest on utility vehicle loans
  • Hassle-free documentation
  • Pay online and through direct debit
  • Enjoy a repayment period of up to 5 years on MUVs

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:

Utility Vehicle Loans

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What is the maximum finance amount of loan available for utility vehicles?

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

Do you finance the utility 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.

What is the maximum repayment period for a loan?

The loan is available for a maximum period of 5 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.

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.

Do you need any collateral security to avail loan on utility vehicles?

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, we can take care of your insurance needs.

What are the loan tenure options for MUVs & SUVs?

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.

© 2014 Mahindra Finance

CIN - L65921MH1991PLC059642

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