What is the interest rate of magma finance?
Magma Car Loan Interest Rates Updated on 05 Dec 2021
| Interest Rate (Monthly reducing balance) | 12.00% to 16.00% |
|---|---|
| Processing Fees | Rs.3,500 to Rs.4,625 |
| Loan Tenure | 1 year to 5 years |
| Pre-closure Charges | Upto 5% on outstanding loan amount |
| Guarantor Requirement | No guarantor required |
What happened to Magma Fincorp?
Magma Fincorp’s share gained 5 per cent to Rs 143.05 on Monday. For the full year 2020-21, the non-banking lender reported a loss of Rs 558.96 crore as against a profit of Rs 27.05 crore in 2019-20. Income during the year also fell to Rs 2,352.48 crore from Rs 2,562.88 crore.
How do you calculate magma finance?
Call toll-free number – 1800 3002 3202 or email at [email protected] to know Magma Finance car loan status.
What is the maximum limit for home loan?
Your Home Loan Eligibility will be calculated after deductions of the EMIs that you are paying. Generally, the banks provide maximum upto 85% of loan against the value of property. Therefore, if you want a home loan for buying a property of Rs. 50 lakhs, the maximum amount you can get is 85% of that ie 42.50 lakhs.
Who takes Magma?
Adar Poonawalla
Magma Fincorp has been renamed as Poonawalla Fincorp with effect from July 22 after Adar Poonawalla-led Rising Sun Holdings acquired a controlling stake in the non-banking finance company (NBFC). Housing Finance, the company said in a statement.
What does Magma Fincorp do?
Magma Fincorp Ltd is a publicly held non-banking finance company along with its subsidiaries and joint ventures engaged in providing asset finance housing business through its pan India branch network.
Who owns magma?
Housing Finance, the company said in a statement. Rising Sun Holdings had acquired a controlling stake in the NBFC through an equity infusion of Rs 3,456 crore. The transaction was completed on May 21, and Adar Poonawalla was appointed as the company’s Chairman on May 31.