What is the maximum finance amount of loan available for utility vehicles?
The finance amount is based on vehicle price & the loan eligibility as per the profile.
Do you finance just the utility vehicles alone or the accessories as well?
We do not fund any accessories unless it is a standard fitting by the OEM.
What is the interest rate for loans?
The interest rates offered are reasonable and are determined by the location of the customer, loan tenure and customer profile
What is the maximum repayment time for a loan?
The loan is available for a maximum period of 5 years.
How much time does loan sanctioning take?
Normally, the approval is given in few working days subject to the submission of 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 post loan disbursement.
Do you need any collateral security to avail loan on utility vehicles?
No, collateral security is not required.
Will you always require a guarantee?
What should I do in case I wish to replace my PDCs?
To do so, you can send your request to the nearest Mahindra Finance branch. Click here 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 post loan closure.
What should I do when my contract tenure gets over?
On payment of the last instalment and any other pending 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.
Insurance endorsement cancellation letter
What should I do in the case of address change? Who should I intimate?
You can intimate the concerned branch, which you normally deal with. Otherwise, you can email us by clicking here.
Is a third party insurance cover enough?
Comprehensive insurance coverage is mandatory.
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 feel free to arrange for comprehensive insurance and produce the policy copy with our endorsement in time. We are always committed to our customers to provide a one-stop solution for all loans & insurance needs. We offer one of the best insurance solutions through our subsidiary company Mahindra Insurance Brokers Ltd. 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 to suit the needs of every borrower, with convenient and comfortable schedules. We offer monthly, quarterly and half-yearly repayment schedules depending on the type of product.
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