Mahindra Finance Loan Interest Rates & Other Details on Your Fingertips

1. Mahindra Finance Loan Interest Rates & Other Details on Your Fingertips

2. Mahindra Finance is rapidly diversifying its business from traditional vehicle finance schemes. The reputed non-banking finance company (NBFC) is now offering personal loans, home loans besides financing the small medium enterprises (SMEs). So, depending on your needs, you can choose the right loan to fulfill the purposes. However, before applying, it’s better to be aware of the loan details so as to steer clear of any uncertainties that may prevail otherwise. Let’s discuss Mahindra Finance Loan Interest Rates and several other details pertaining to different credits offered by the company.

3. Mahindra Finance Car Loan A car represents the social status of the highest order and so many looks to buy the same at some point in their life. Mahindra Finance stands behind all those wanting to buy the dream car by offering them loan accounting for up to 100% of the ex-showroom price of the 4-wheeler vehicle. The company offers competitive interest rates based on loan tenure and the overall customer profile. It approves and disburses car loans quickly subject to customers meeting the eligibility criteria and submitting documents that authenticate his/her identity, address and income.

4. What is the Eligibility Criteria for Car Loan? Mahindra Finance disburses car loans to salaried and self-employed individuals besides farmers. Your earning should be such that you are able to pay the proposed Equated Monthly Installment (EMI) to your loan, without any hassle.

5. Documents Required You must submit the following documents while applying for a car loan. Identity Proof – PAN Card/Voter ID/Passport/Driving License/Aadhaar Residence Proof – Voter ID/Passport/Driving License/Aadhaar Income Proof – Latest Salary Slip/Form 16 for salaried, Income Tax Return (ITR) & bank statements for self-employed Latest passport size photographs, duly filled and signed application form

6. Mahindra Finance Personal Loan Personal loans can be availed to fulfill a myriad of personal needs such as education, marriage, travel, etc. Mahindra Finance disburses loans of up to ₹3 lakhs for a maximum of 3 years. The rates are customized according to the profile of an individual. The loan can be approved instantly and get disbursed in 2 days subject to customers meeting the eligibility criteria.

7. Eligibility Criteria for Personal Loan The loan is available to confirmed Mahindra Group employees and existing customers of Mahindra Finance, with the latter requiring a solid repayment track to gain a nod. On the other hand, the employees working in the Mahindra Group must have served for at least 2 years at the organization. They should be aged between 21-58 years to be eligible for the loan.

8. Documents Required Do submit the following documents while clicking on the Mahindra Finance Personal Loan Apply option online. The same documents are required while applying at the nearest branch of the lender. Identity Proof – PAN Card/Voter ID/Passport/Driving License/Aadhaar Residence Proof – Voter ID/Passport/Driving License/Aadhaar Income Proof – Latest Salary Slip/Form 16 for salaried, Income Tax Return (ITR) & last 3 months bank statements for self-employed Photographs of the borrower and guarantor

9. Mahindra Finance Home Loan Mahindra Finance provides home loans to help an individual purchase a new or resale house, construct homes on the plot owned, renovate or extend the existing units. The loan is secured by the equitable or registered mortgage of the property financed. You can get a loan at up to 75% of the construction cost, excluding the cost of land. As far as interest rates are concerned, Mahindra Finance offers both fixed and variable rates based on the type of customers. Salaried and semi-urban customers would get variable rates to service the home loan. Other customers would pay the EMIs at fixed rates of interest.

10. Eligibility Criteria for Home Loan The loan eligibility will be decided on the basis of income, age, job stability, savings, income regularity, assets & liabilities, family background, property value, etc.

11. Documents Required You shall submit the valid KYC and property documents while applying for a home loan. Identity Proof – PAN Card/Voter ID/Passport/Driving License/Aadhaar Residence Proof – Voter ID/Passport/Driving License/Aadhaar Income Proof – Latest Salary Slip/Form 16 for salaried, Income Tax Return (ITR) & last 3 months bank statements for self-employed Property documents such as flat allotment letter, agreement of sale, etc

12. Once you submit the documents, Mahindra Finance would arrange experts who would visit the property to carry out a legal, technical and credit check. The report submitted by the experts would help Mahindra Finance ascertain the value of the property. The property value so ascertained would dictate the loan amount Mahindra Finance can extend to a borrower.