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