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Due to wake of rising COVID cases across PAN India, we are trying our best to keep our call centers open to serve you . However we are experiencing a surge in call volumes. We request your patience if you are trying to reach us.
We know it must be frustrating for you not to get an immediate response or to be on hold for a long period. Our sincere apologies for keeping you waiting. Our branches are however operational in most locations and ready to serve you. Please be assured that we are trying our best to continue serving you.
We wish you, your family and friends a safe and healthy environment.
Customers should not respond to any messages or call asking for the OTP to avail offers or for payment of their EMI’s.
Please ensure that you collect valid money receipts for all your payment transactions immediately OR get an SMS acknowledgment receipt on payment.
Thanking you and assuring our best services always.
INTEREST RATE & CHARGES
Magma Car Loan interest rates vary from 12% to 16%, depending on various factors. Apply online now so we can offer you the best rate based on your credit-background and our customized schemes.
- 5% of the Principal Outstanding for pre-closures beginning 6 months after date of agreement.
- Foreclosures are not permitted within 6 months from date of availing of the car loan. Foreclosures within 6 months are allowed under exceptional circumstances with lock-in period charges.
3% per month
- Up to Rs. 2.50 lacs: Rs. 3500
- From Rs. 2.51 lacs to 5 lacs: Rs. 4050
- Over Rs. 5 lacs: Rs. 4625
- 0 processing fees on select schemes
*May vary from model to model and at the sole discretion of Magma Fincorp Ltd.