What Mahindra Finance Loan Interest Rate is One of The Best Options in The Market?

Where other Non-Banking Financial Companies (NBFCs) are slowly recovering from the shakes of NPA accounts and the IL&FS crisis, Mahindra Finance has stood out in terms of loan growth and recovery from past bad loans. It has made exponential profits in the last quarter. The immense growth is attributed to geographical diversification and penetration. Mahindra Finance is touching those areas which are untouched by the rest of the Non Banking Financial Companies (NBFCs) - the rural and semi-urban markets. In order to facilitate them with the best personal loan, Mahindra Finance loan interest rate are kept as low as possible.

Whether you want to throw the best wedding party or travel to your favourite destination, Mahindra Finance Personal Loan should be your go-to option because of its low interest rates. It’s interest rates are customisable, meaning based on your income, credit score, property details or other factors, Mahindra will determine the interest rates. Mahindra has offered interest rates as low as 11% per annum. No other NBFCs or banks has this customizable interest rate facility. This can be a huge benefit to the people residing in rural areas or semi urban areas.

How Can you Get a Low Mahindra Finance Loan Interest Rate?

Personal Income: Your net monthly income can help you bag low interest rates from Mahindra Finance. If you’ve a decent and consistent monthly income flowing into your account, chances are Mahindra Finance will give you the lowest interest rate, which is 11%. Important thing to note is that more than the amount of the monthly income, emphasis is on the regularity of the monthly income. Irregular income puts in a high risk factor zone, whereas regular income reflects that your repayment ability is high.

Relationship with Mahindra Finance: If you have a healthy relationship with Mahindra Finance in the past, like, an old loan, can help you bag low interest rates. The reason being that Mahindra Finance has confidence in you or trusts you with the loan based on your earlier loan repayment track record.

A Good Credit Score: The term ‘credit score’ is over-emphasized but its relevance and importance still stands still in the case of personal loans. A score of 750 and above is considered to be a good credit score by Indian lenders. Maintaining a good credit score bestows you with negotiation power. It gives you the confidence and upper hand while bargaining for a low Mahindra finance interest rate.

How Can the Mahindra Finance Loan Calculator Help You?

Saves your Time: The personal loan calculator saves you immense amount of time. Imagine, if the Mahindra Finance Loan Calculator  wasn’t there. How complicated and time consuming will it be to calculate the EMI using this formula by yourself - EMI = [P x R x (1+R)^N]/[(1+R)^N-1] ? Yes, it will be extremely time consuming and will also lead to errors, which in turn will lead to wrong decisions.

Planning: How much ever we hate planning, the truth is inevitable - It actually helps us to be aware of everything and manage things better. Mahindra Finance Loan Calculator is an aid to planning. Personal Loan EMIs take away 20-30% of your salary, that’s like a good chunk. Now you are only left with 70% of your salary to carry on with your monthly expenses. Earlier, where you had all of it, now you only have 70%. If not managed properly, it can jeopardize your financial status.  But when you know how much money will be deducted from your salary, you know what expenses to cut down on and be focussed on your needs rather than wants.