Magma possesses a diversified product portfolio: loans for cars and utility vehicles, commercial vehicles, construction equipment, tractors, used vehicles, SME businesses, mortgage finance as well as Housing Finance and General Insurance. In 2012-13 year, Magma launched loans for Mortgaged Finance following the acquisition of the mortgage business of GE India. Magma entered in to General Insurance business through Magma HDI General Insurance Company, a joint venture with HDI Global SE. The HDI Global SE brand, is a part of Hannover based Talanx group, the third-largest German insurance Group operating in around 150 countries of the world.
WHY WE DO IT
We believe that no dream should go unfulfilled because of the lack of funds. The dream of a first-time car buyer, who wants to take his family on their first long drive, the dream of a fleet operator, whose business has grown from a single commercial vehicle to a fleet of 25. After fulfilling many such dreams, our customers’ trust has fuelled our own dream- to become the largest retail-finance company in the country. Being one of the fastest growing economies, India is high on aspirations but low on funding, that’s where we step in. Everyone has a dream to reach out to, we are here to take you closer to yours.