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Interest RatesCharged based on product-specific, document, and stamp fees based on the prevailing rates set by the statutory authority and the location of the contract execution.
ChargesGet all the answers to your top Car Loans FAQs with Mahindra Finance
We finance most of the passenger and multi-utility vehicles available in the market.
The auto finance amount is based on the vehicle bought and the profile of the customer. Funding is available up to 100% on ex-showroom value.
We do not fund any accessories unless it is a standard fitting.
The interest rates offered are reasonable and are based on the location of the customer, tenure of loan and customer profile.
We quote on a flat rate basis.
The auto loans from Mahindra Finance are 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 agreements will be provided.
No, we do not take collateral security.
Not always; the requirement is dependent on the customer’s financials, which need to meet our credit criteria.
For this, you must send your request through one of our nearest branches. Click here to view a list of our branches.
Yes, you can pay your EMIs in any of our branches. Click here to view the list of our branches. You can also pay your instalments online. Click here to know more.
To foreclose your loan, you must visit your nearby branch to put in a request. Upon your specific request, we will present the settlement amount (while will include a foreclosure fee) and once you’ve paid the same, the necessary termination papers will be issued.
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 and delivered to your address.
The termination letter.
The no-objection letter addressed to the RTO.
Insurance endorsement cancellation letter
You can intimate the branch, which you normally deal with. You can also email us at service.mmfsl@mahindra.com.
No, comprehensive coverage is required.
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.
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