Please Note: Mahindra Finance is not a Paisabazaar partner. Offers would be from partner banks/NBFCs only.
Mahindra Finance is India’s largest Rural Non-Banking Financial Company (NBFC) offering business solutions and wide range of financial products. This rural NBFC has positively impacted the lives of approximately 3.6 million customers. It is one of the leading financial companies that specialises in providing vehicle loans and business/SME loans to its customers. Its various other investment and lending products include mutual funds, fixed deposits, personal loan, car loan, etc.
The company provides long-term credit and capital investment that helps in business growth. Below mentioned are the products offered under Credit and Loan Solutions.
- Secured Business Loans
- Industrial Project Financing
- Equipment Financing
- Corporate Loans
- Lease Rental Discounting
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Mahindra Finance Business Loan – Types & Features
SME Loan Type/Category | Industrial Project Financing | Equipment Financing | Corporate Loans | Secured Business Loans | Lease Rental Discounting |
Loan Amount | Up to Rs. 40 crore | Up to Rs. 40 crore | Up to Rs. 25 crore | Based on valuation of property | Up to Rs. 25 crore |
Repayment Tenure | Up to 6 years | From 6 months to 5 years | From 1 year to 5 years | Up to 7 years, linked to business cycle | Up to 6 years |
Security | Normal Asset covered of 1.5 times | Normal Asset covered of 1.5 times | Normal Asset covered of 1.5 times | Normal Asset covered of 1.5 times | Mortgage of the property under lease |
Margin | Depends on customer’s profile | Flexible | NA | NA | NA |
Loan Processing Time | 20 working days | 10 working days | 10 working days | 3-4 working days | NA |
Note: The mentioned interest rates, fees and charges are subject to change and depend on the sole discretion of the bank and RBI. GST and service tax shall be levied extra on the mentioned fee & charges.
Unsecured business loan processing time: Within 48 hours after loan approval
Foreclosure Charges: 2% on principal outstanding
SME loans – Liquidity Solutions
Mahindra Finance also offers short-term credit to enhance business cash flow and to meet working capital needs. The products offered under SME loans – Liquidity Solutions are as follows:
- Short-term Loans
- Bill Discounting
- Revolving Short-term loans
Features of SME Loans
Loan Type/Category | Short-Term Loans | Bill Discounting | Revolving Short-Term Loans |
Loan Amount | Up to Rs. 25 crore | Up to Rs. 40 crore | Annually reviewed |
Repayment Tenure | Up to 12 months | Validity – Up to 12 months | Up to 36 months |
Margin | Flexible | NA | Cycle of 30-60 days |
Security | Normal asset cover of 1.25 times | NA | NA |
Note: The mentioned interest rates, fees and charges are subject to change and depend on the sole discretion of the bank and RBI. GST and service tax shall be levied extra on the mentioned fee & charges.
Dial 022-6632-7940 or email at sme.solutions@mahindra.com for any query related to Bill Discounting
Bill Discounting Loan Processing Time: 10 working days
Types of Security Accepted by Mahindra Finance
- Deposit Certificates
- Equipment
- Fixed Deposits
- Gold and Other Cash Counterparts
- Kisan Vikas Patra (KVP)
- Land & Real Estate Property
- Life Insurance Policies
- National Savings Certificate
- Plant & Machinery
- Securities Issued by Central and State Governments
Guaranteed Emergency Credit Line (GECL) Scheme
Mahindra Finance offers Guaranteed Emergency Credit Line Scheme to existing Business Enterprises and MSME borrowers backed by 100% Guarantee of Govt. of India under Emergency Credit Line Guarantee Scheme (ECLGS) launched on May 23, 2020 for COVID-19 affected enterprises.
Guaranteed Emergency Credit Line (GECL) | |
Interest rate | 14% per annum |
Loan Amount | Up to Rs. 5 crore |
Tenor | 4 years |
Repayment Tenure | 36 months after 12 month moratorium is over |
Collateral | Not required |
Processing Fee | Nil |
Guarantee Fee | Nil |
Security | Charge on assets created out of our loan |
Moratorium | 12 months |
Annual Turnover | Up to Rs. 100 crore for FY19-20 |
Individual Loans | Not covered under this scheme |
Note: The mentioned interest rates, fees and charges are subject to change and depend on the sole discretion of the bank and RBI. GST and service tax shall be levied extra on the mentioned fee & charges.
Additional term loan up to Rs. 5 crore or 20% of outstanding borrowing with Mahindra Finance as on February 29, 2020. This loan scheme is backed by 100% guarantee the Government of India through implementing agency – NCGTC (National Credit Guarantee Trustee Company)
Contact Details
Toll free number: 1800-233-1234
(Mon–Sat, 8am to 8pm)
Email: share.mmfsl@mahindra.com
Contact Address
Mahindra & Mahindra Financial Services Limited
4th Floor, Mahindra Towers,
Dr. G.M. Bhosale Marg,
P.K. Kurne Chowk, Worli,
Mumbai 400 018.