Mahindra & Mahindra is one of the most known brands our country has seen and recognises. From automobile industry, their foray into finance and investments has been equally successful. Being a part of such a big and diversified group, Mahindra finance happens to be the most dependable lenders around. Years of experience that they bring to table are something that results in maximum customer satisfaction. From a big corporate set up to retail, they have covered it all. Here we will give you details on how to go about Mahindra finance two wheeler loans.
About Mahindra Finance
Mahindra & Mahindra Financial Services Limited (MMFSL) prides itself on being one of the most ethical financiers who is committed to follow all applicable laws, rules and regulations and conduct business at the highest standards of business ethics. Almost 20 years into the business, they started their business in rural non-banking finance sector changing the face of rural India and empowering villages and their inhabitants. They provided funds for vehicles, home and other purposes that raised the standard of living in Indian villages.
Mahindra Finance believes in everyone’s dreams and therefore they extend loans based on a person’s potential earnings in future rather than the present condition. This principle has allowed various people in realising their dreams and making it big in life. Till date Mahindra Finance has reshaped the lives of 3 million people! The top tractor financier in India employs over 16000 people in its 100 plus branches across India. The robust network of its branches ensures best of service and personalised attention to every customer and detail.
Important features of two wheeler Loan from Mahindra Finance
Mahindra Finance provides quick, seamless and efficient system for loan approvals and the entire loan process takes just about two days to complete. They also provide loan insurance as insurance is one of the products they offer in the extensive range of services they have. General features of the loans extended by them are as follows and include specific features of 2 wheeler loans wherever specifically mentioned:
- They offer additional special 0.5% rebate for women customers.
- Their loan to value amount is 80% on highest ceiling.
- Standard loan tenure offered range from 12 to 36 months or 1-3 years.
- Mahindra finance funds up to 85% of invoice price of the two wheeler.
- A borrower has the option of pre-closing the loan at a nominal preclosure rate.
- Rate of interest varies between 10-14% depending upon the category.
Now that we have discussed main features of the loans, let us touch upon the eligibility criteria:
- An individual between 21 to 58 years of age.
- And has to be an Indian Citizen
Documents required to avail the Loan:
- KYC or Know your customer form which is part of due diligence by the lender and is mandatory. It includes personal information, contact, address, income and such other details as the lender may seem fit;
- Income proof includes tax returns, salary statements, bank statements etc
You can also apply online for loan. You will be asked to fill in the details like name, address, income, contact number. As soon as you are done, their representative shall contact you.
As mentioned earlier, Mahindra Finance has a comprehensive and well rounded service portfolio. For investors, borrower or a person who wants to keep his savings safe, Mahindra finance is like a one stop shop. It deals with savings accounts, insurance, loans, and mutual funds. Let us take a look at the different types of financial products, they provide for their customer.
- Two Wheeler/Bike Loan EMI Calculator: One just needs to enter loan amount, tenure and rate of interest and the very fast and efficient EMI calculator throws the number.
- Other loans offered by Mahindra Finance include vehicle loan like tractor loan, car loans, utility vehicle loans, three wheeler loan, commercial vehicle loan, used vehicles loan, Personal loan, home loan and SME Loan.
- Used car value calculator: This is a service you can avail on their online calculator. Enter the details requested and you will have the value right there. So no shocks when you get the loan.
- Fixed deposits, mutual funds and bonds
- Insurance services
Mahindra finance’s products and two-wheeler loans are available on www.letzbank.com where you can make an informed decision by comparing their terms and conditions with other reputed and well known lenders. We minimise documentation and time taken to process your loans because your dreams are important to us and we know that dreams don’t wait!