About Mahindra Finance
“Mahindra Finance App” is the official customer app of Mahindra Finance. Through Mahindra Finance App, consumers can view vehicle loan, FD details or apply for pre-approved loans and other customized offers. Here is
“Mahindra Finance App” is the official customer app of Mahindra Finance.
Through Mahindra Finance App, consumers can view vehicle loan, FD details or apply for pre-approved loans and other customized offers.
Here is what you can do with the new and improved app.
1. Quick Easy one time registration with login via PIN or Fingerprint
2 .Active account information: View and manage your active loans and Fixed deposit investments, make payments and more.
3. Repayment Schedule: Access repayment information, EMIs due, amount paid, and amount remaining and download repayment schedule.
4. Pre-approved offers: View pre-approved offers & details, get product information or request a call back.
5. Payments: Pay your EMIs using your preferred mode - Debit Cards Net Banking, Wallets, UPI.
6. Executive Connect: Connect with your relationship executive for any assistance through our Request a Callback facility.
7. Branch Locator: Branch locator provides an easy navigation to the branches near you.
8. Cash Payment Points: For consumers, who want to pay their EMIs in cash, locate your nearest cash collection centers.
9. Offline Capability : The app provides key user information like account summary, repayment details, executive information etc. even when you’re offline.
10: Easy apply for Mahindra Vehicle Loans & Mahindra Mutual Funds & Insurance.
11: Receive important messages from Mahindra Finance with notification feature.
Minimum tenure : 6 months , maximum tenure : 18 months
Rate of interest : 1% per month
Min loan amount 25k , max amount : 1.75 lakh
AIR : Annual interest Rate : Min: 19% , Max : 25%
Option to have insurance cover (MLS) at an additional small fee which protects the Borrower from any further liability.
Scenario with insurance cover
Finance cost : 1 lakh
Tenure : 12 months
Finance charge (1 % per month) : INR 12,000
Processing charge : INR 2000 ( ACH mode : 2% of loan amount , Cash mode 3% of LA)
* ACH mode has been chosen in this case.
Future receivable : INR 1,12,000 ( 1,00,000 FA +12,000 INT)
Amount to be disbursed after deduction = Finance amount – ( processing fee + MLS ) = 1,00,000 – (2000+337 ) = INR 97663
Monthly EMI is listed in calculator too = Future receivable / tenure. 1,12,000/12 = 9333*11 , 9337*1
Scenario without insurance cover
Finance cost : 1 lakh
Tenure : 12 months
Moratorium : 30 days
Finance charge (1 % per month) : INR 12,000
Processing charge : INR 2000 ( ACH mode : 2% of loan amount , Cash mode 3% of LA)
* ACH mode has been chosen in this case.
Future receivable : INR 1,12,000 ( 1,00,000 FA +12,000 INT)
Amount to be disbursed after deduction = Finance amount - Processing fee = 1,00,000 - 2000 = INR 98,000
Monthly EMI = Future receivable / tenure. = 1,12,000/12 = 9333*11 , 9337*1
Supported for Android OS 7.0 and above
Previous Versions
Here you can find the changelog of Mahindra Finance since it was posted on our website on 2016-12-22 13:28:05.
The latest version is 2.6.1 and it was updated on 2024-04-22 22:04:20. See below the changes in each version.
Mahindra Finance version 2.6.1
Updated At: 2024-04-11
Changes: General Fixes
Mahindra Finance version 2.6.0
Updated At: 2024-03-01
Changes: We're thrilled to introduce the QR-based payment collection in our latest update! Now, effortlessly take payments through your QR code from the mobile app. And all payments made via QR code can seamlessly be adjusted against your loan account. Enjoy a smoother and more convenient payment experience. Update now and simplify your transactions!
Mahindra Finance version 2.5.8
Updated At: 2024-02-12
Changes: Some powerful features in this latest release:
E-Mandate Setup Through App: Setting up recurring payments has never been easier! With our new E-Mandate feature, you can now effortlessly establish automated payment of instalments directly within the app
All Charges Payment in One Place: Say goodbye to scattered payment processes. Our enhanced app now consolidates all charges into a single, user-friendly interface, you can conveniently view and settle all your pending payments in one go
Mahindra Finance version 2.5.5
Updated At: 2023-11-22
Changes: Minor Enhancements
Mahindra Finance version 2.5.4
Updated At: 2023-11-08
Changes: Introducing a new feature: Pay additional interest charges on delayed instalment payments directly through the app! Stay on top of your payments effortlessly.
Mahindra Finance version 2.5.1
Updated At: 2023-09-25
Changes: We're excited to introduce some fantastic new features in this update!
1. Email ID Update Now, you can easily update your registered email ID within the app. Keeping your contact information up- to-date has never been easier!
2. Apply for a Fixed Deposit (FD) directly from the app and watch your savings grow over time
3. Improved performance and stability of the app, reducing loading times and minimizing crashes and freezes
Mahindra Finance version 2.4.9
Updated At: 2023-06-15
Changes: Track NOC Status: Completely revamped the Track NOC feature with a fresh and intuitive user interface
View Detailed Charges of Your Loan: Transparency is key when it comes to managing your finances, which is why we have introduced a comprehensive charge view for your loans. Now you can access a detailed breakdown of all charges associated with your loans
Improved User Experience, performance and stability of the app, reducing loading times and minimizing crashes and freezes
Mahindra Finance version 2.4.6
Updated At: 2023-04-05
Changes: Here’s what’s new with the latest version of our app!
- Recharge, Bills and EMI Payments: You can now make your recharge and bill payments all directly through our app
- Track NOC Status: A new feature that allows you to track the status of your NOC
- Improved performance and stability of the app, reducing loading times and minimizing crashes and freezes
Mahindra Finance version 2.3.9
Updated At: 2022-02-24
Changes: Raise service request for loan foreclosure
Mahindra Finance version 2.3.7
Updated At: 2021-12-30
Disclaimer
Official Google Play Link
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