Utility Vehicle Loan FAQs

The finance amount is based on vehicle price & the loan eligibility as per the profile.

We do not fund any accessories unless it is a standard fitting by the OEM.

The interest rates offered are reasonable and are determined by the location of the customer, loan tenure and customer profile

The loan is available for a maximum period of 5 years.

Normally, the approval is given in few working days subject to the submission of the required documents. To check the documents required, click here.

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

No, collateral security is not required.

Not always.

To do so, you can send your request to the nearest Mahindra Finance branch. Click here to view a list of our branches.

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

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.

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.

The termination letter.

The no-objection letter addressed to the RTO.

Insurance endorsement cancellation letter

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

Comprehensive insurance coverage is mandatory.

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.

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.