To avail of a car loan from Magma, one should meet the requirements below:

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.

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