Regulated NBFCAll Eligible Borrowersunsecured

Mahindra Finance Personal Loan

महिंद्रा फाइनेंस पर्सनल लोन

Mahindra Finance personal loan tailored for rural and semi-urban customers up to ₹5 Lakhs.

Max Loan Amount

₹30,000 to ₹5,00,000 (Rural & Semi-Urban Focus)

Interest Rate

13.50% - 28.00% p.a. (risk-grade fixed)

Tenure

12 to 48 months

Processing Fee

Up to 3.00% of loan amount + GST

✦ What It Is: Product Architecture & Regulatory Scope

Personal credit product from Mahindra & Mahindra Financial Services tailored for rural and semi-urban customers to finance agricultural equipment, weddings, education, or emergency medical costs.

What is Missing: Honest MITC Policy Gaps, Hidden Clauses & Extra Charges

Eligo consumer protection notice: Bank brochures, DSA telecallers, and comparison portals rarely disclose these conditions. Read carefully before signing.

• Higher interest rate floor (starts at 13.50%). • Maximum loan quantum capped at ₹5 Lakhs. • Foreclosure penalty of 4% + GST applies.

✦ Key Benefits & Features

• Tailored specifically for rural and semi-urban emerging customers • Flexible income assessment without requiring formal salary slips • Deep branch presence across rural districts • Simple documentation and doorstep support.

✦ Prepayment, Part-Payment & Foreclosure Rules

Prepayment allowed after 6 months with 4% fee + GST.

✦ Eligibility Requirements

Rural and semi-urban customers with verifiable income or landholding. Min Age: 21, Max Age: 65. Min Monthly Income: ₹12,000. Min CIBIL: 650.

Min Age21 Years

Max Age65 Years

Min Monthly Income₹12,000

Min CIBIL Score650+

✦ Documents Required

• Identity Proof: PAN Card and Aadhaar Card • Income Proof: Bank statement or agricultural land revenue records • Banking: Last 6 months bank statement.

✦ Exact How-To-Apply Process (3 Pathways)

Depending on your current relationship with the bank, select the corresponding application journey:

Pathway A

Existing / Pre-Approved Customers

1. Existing vehicle/tractor loan customers apply via Mahindra Finance app with pre-approved fast-track credit.

Pathway B

New Online Applicant (Fresh Digital)

1. Visit mahindrafinance.com > Personal Loans. Submit mobile number, PAN, and KYC.

Pathway C

Branch Walk-In Application

1. Visit nearest Mahindra Finance rural/semi-urban branch with KYC, bank statements, and income proof.

Official Sourcing & MITC Verification

180-Day Re-Verification SLA · Last Verified: 2026-09-28

Eligo does not collect personal loan applications, sell user data to DSA telecallers, or receive affiliate commissions. All terms shown are extracted directly from official bank circulars, Most Important Terms and Conditions (MITC), and Key Fact Statements (KFS) under RBI guidelines.

Visit Official Lender Portal (Mahindra Finance Official Portal)View Official MITC / Schedule of Charges RBI Key Fact Statement (KFS) Reference

Frequently Asked Questions on Mahindra Finance Personal Loan

Can farmers and non-salaried rural customers apply?

Yes, Mahindra Finance specializes in catering to rural and semi-urban customers with agricultural or trade income.

What is the maximum loan limit?

Up to ₹5 Lakhs based on verified cash flow.

What is the maximum tenure?

Up to 48 months (4 years).