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Car Loan

Drive Your Dream Car with Our Flexible Car Loan Solutions

Purchasing a car is a significant milestone, and we are here to make it as smooth and affordable as possible. Our car loan options are designed to cater to a wide range of needs and budgets, ensuring that you can drive away in your dream car without any financial stress.

Benefits of Our Car Loan

  1. Competitive Interest Rates: We offer some of the most competitive interest rates in the market, making your loan affordable and manageable.
  2. Flexible Repayment Terms: Choose a repayment term that suits your financial situation. Our flexible terms range from 12 to 84 months, allowing you to spread the cost over a period that fits your budget.
  3. Quick and Easy Approval Process: Our streamlined approval process ensures you get your loan quickly. With minimal paperwork and fast processing times, you’ll be driving your new car in no time.
  4. High Loan Amounts: We provide high loan amounts to cover the cost of both new and used cars, giving you the freedom to choose the car you want.
  5. No Hidden Fees: Transparency is key to our service. There are no hidden fees or charges, so you know exactly what you’re paying.
  6. Expert Support: Our team of financial experts is available to guide you through the entire process, from application to approval, ensuring you make the best financial decision.

Our Car Loan Process

1. Application Submission: Begin your journey by filling out our simple online application form. Provide basic information about yourself and the car you wish to purchase.

2. Documentation: Submit the required documents, including proof of identity, address, income, and vehicle details. Our representatives will assist you in ensuring all necessary paperwork is in order.

3. Loan Approval: Once we receive your application and documents, our team will review and process your loan. Thanks to our efficient system, approvals are typically granted within 24-48 hours.

4. Loan Disbursement: Upon approval, the loan amount will be disbursed directly to the car dealer or seller. You can then proceed with the purchase of your car.

5. Repayment: Begin your repayment journey with flexible EMI options. Use our online portal to manage your loan, make payments, and track your repayment schedule.

Eligibility Criteria

  • Age: Applicants must be between 21 and 65 years old.
  • Income: A minimum income requirement to ensure repayment capability.
  • Employment: Stable employment or business history with at least 1 year of continuous employment or 2 years in business.
  • Credit Score: A good credit score enhances your chances of loan approval and better interest rates.

Documents Required

  1. Proof of Identity: Passport, Voter ID, Driving License, or Aadhaar Card.
  2. Proof of Address: Utility bills, Rent agreement, Passport, or Aadhaar Card.
  3. Income Proof: Salary slips, Bank statements, or Income Tax returns.
  4. Vehicle Details: Invoice, Registration Certificate, and Insurance documents.

Frequently Asked Questions (FAQs)

1. What is the maximum loan amount I can get? The loan amount depends on the value of the car and your repayment capacity. Typically, we offer up to 90% of the car’s on-road price.

2. Can I get a car loan for a used car? Yes, we provide loans for both new and used cars. The terms and conditions may vary based on the car’s age and condition.

3. How is the interest rate calculated? Interest rates are calculated based on the loan amount, tenure, and your credit profile. We offer both fixed and floating interest rate options.

4. Can I prepay my car loan? Yes, you can prepay your car loan. We offer flexible prepayment options with minimal charges.

5. How can I apply for a car loan? You can apply online through our website or visit any of our branches. Our representatives will be happy to assist you through the process.

 

Contact Information

  • Phone: 9968875111
  • Email: support@mfsgrowth.com

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