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MAGMA CAR LOANS

We at Magma Fincorp offer Car loans which suits your requirements. We provide

  •  Flexible Payment Options For Magma Car Loan Customers
    • Payment through Cash
    • Payment through ECS
    • Payment through Cheque
  •  Fast Processing
    • Get your loan processed in less than 4 hours, and drive the car out of a dealership that very evening
  • Upto 100% Car loans*
    • We finance Cars up to 100% of the value of the car
  • Minimal(Less) Documentation
    • Car Loans up to 70% of total value based solely on your KYC and bank documents

We give car loan under

  • No Income Proof
  • Tatkal car loans
  • Agri-based car loans
  • Salaried/Self Employed
  • Commercial Use

Salient Features of  Magma Car Loans

  • Competitive Car Loan Interest Rates.
  • Flexible documentation and quick processing.
  • End-to-end doorstep service
  • Car Loans for personal and commercial-use cars or utility vehicles, both new and used.
  • Flexible Loan payment options- in monthly cash installments, auto debit, ECS (Electronic Clearing Services) or PDC’s (Post Dated Cheques).
  • Maximum Car Loan eligibility  – Option to borrow up to three-times your annual salary (for salaried professionals) or six-times your annual income (for self employed professionals).
  • Easy loans (without income documents) for existing Magma customers with good repayment records for 12 months or more.
ELIGIBILITY FOR SALARIED CUSTOMERS SHOULD
  • Be employed by the same employer for at least two years.
  • Be at least 21-years-old at the beginning of the car loan tenure and under 60-years-old or retirement age, whichever is lower, at the end of the loan tenure.
  • Have an annual salary of at least Rs. 1,50,000.
  • Have residential stability for at least one year.

ELIGIBILITY FOR SELF EMPLOYED CUSTOMERS SHOULD
  • Have been in the same business for at least two years.
  • Be at least 21-years-old at the beginning of the loan tenure and under 67-years-old at the end of the loan tenure.
  • Earn at least Rs. 1,00,000 per year.
  • Have residential stability for at least one year

*Documentations may vary from scheme to scheme

Our personalized service and streamlined documentation gets your product to you faster.