Car Loan for MG Gloster: Features & Benefits
| MG Gloster Car Loan Interest Rate | 7.35%* per annum |
| MG Gloster Car Loan Min Loan Amount | ₹ 100,000 |
| MG Gloster Car Loan Max Loan Amount | Loan up to 90% of On Road Price |
| (Loan to Value) | or 100% of Ex-showroom Price |
| MG Gloster Car Loan Tenure | 1 year to 7 years |
| Lowest EMI / Lac | ₹ 1,622 |
| Minimum Net Monthly Income | ₹ 20,000 |
| Minimum ITR for Self Employed | ₹ 2,00,000 |
| Age Criteria | Salaried: 21 years to 60 years Self Employed: 21 years to 65 years |
| Types of Cars | For All New Passenger Cars, Multi Utility Vehicles (MUVs), and Sport Utility Vehicle (SUVs). |
| MG Gloster Car Loan Processing Fee | 0.40% of the principal amount |
| Foreclosure Charges | 6% (7-12 months) |
| Basic Documentation | Address Proof, Bank Statement, Car Quotation, and ID Proof |
MG Gloster Car Loan Eligibility Criteria
| Salaried Individual | Age – 21 years to 60 years |
| Net Monthly Income – Minimum ₹ 20,000 | |
| Employment Duration – 1-year minimum | |
| Income Eligibility – Based on Form 16 and salary slip | |
| Self-Employed Individuals | Age – 21-65 years of age |
| Minimum ITR – Rs.2 lakh | |
| Employment Duration – Minimum 3 years | |
| Income Eligibility – Depends on the latest Income Tax Returns | |
| Self-Employed Non-Individuals (Company/Partnership) | Minimum ITR – Rs. 2 lakh |
| Employment Duration – 3 years minimum | |
| The applicant has to present IT returns and audited financials of 2 years with Calculated Income. | |
| Priority Customers | At least 6-month vintage |
| Average Quarterly Balance – 2 quarters balance at a minimum of Rs.1 lakh | |
| Maximum Loan Amount – 3 times the Average Quarterly Balance of the last 2 Quarter |
MG Gloster Car Loan EMI Calculator
MG Gloster Car Loan EMI at Rs 67,194 per month for a tenure of 60 months @ 9.8 for a loan amount of Rs 31.77 Lakh. The EMI calculator tool at Dialabank provides a detailed breakdown of the total amount payable and helps you find the best car finance for your MG Gloster. To check your EMI visit the Dialabank EMI Calculator page.
MG Gloster Car Loan Interest Rate, Fees, and Charges
| Charges | New Car Loan | Used Car Loan |
| Interest Rate | 7.35% | 11.80% p.a. to 13.80% p.a. |
| MG Gloster Car Loan Processing fee | 0.40% | 0.40% |
| Issuance of Duplicate Repayment Schedule Charges | Around Rs.500 | Around Rs.500 |
| Foreclosure Charges | 6% | 6% |
| Penal Interest | 2% PM | 2% PM |
| MG Gloster Car Loan Part Payment charges | 6% of the amount | 6% of the amount |
| Cheque/Instrument Swap Charge | Around Rs.500 | Around Rs.500 |
| Documentation Charge | Around Rs. 500 | Around Rs. 500 |
| Issuance of Duplicate No Dues Certificate Charges | Around Rs. 500 | Around Rs. 500 |
| Registration Certification Collection Charge | Around Rs. 200 | Around Rs. 200 |
| Cheque Bounce/Instrument Return Charges | Around Rs. 500 | Around Rs. 500 |
| Issuance of Duplicate Statement Charges | Around Rs. 500 | Around Rs. 500 |
| Loan Cancellation/Re-booking Charges | Around Rs. 1000 | Around Rs. 1000 |
| Issuance of Credit Report | Around Rs. 50 | Around Rs. 50 |
MG Gloster Car Loan Interest Rate, Fees, and Charges
| Charges | New Car Loan | Used Car Loan |
| MG Gloster Car loan Interest Rate | 7.35% | 11.80% p.a. to 13.80% p.a. |
| MG Gloster Car loan Processing fee | 0.40% | 0.40% |
| Issuance of Duplicate Repayment Schedule Charges | Around Rs.500 | Around Rs.500 |
| MG Gloster Car loan Foreclosure Charges | 6% | 6% |
| Penal Interest | 2% PM | 2% PM |
| MG Gloster car loan Part Payment charges | 6% of the amount | 6% of the amount |
| Cheque/Instrument Swap Charge | Around Rs.500 | Around Rs.500 |
| Documentation Charge | Around Rs. 500 | Around Rs. 500 |
| Issuance of Duplicate No Dues Certificate Charges | Around Rs. 500 | Around Rs. 500 |
| Registration Certification Collection Charge | Around Rs. 200 | Around Rs. 200 |
| Cheque Bounce/Instrument Return Charges | Around Rs. 500 | Around Rs. 500 |
| Issuance of Duplicate Statement Charges | Around Rs. 500 | Around Rs. 500 |
| Loan Cancellation/Re-booking Charges | Around Rs. 1000 | Around Rs. 1000 |
| Issuance of Credit Report | Around Rs. 50 | Around Rs 1000 |
Documents Required for MG Gloster Car Loan
MG Gloster Car Loan Salaried Individual
| Category | Documents Required |
| Identity Proof
(Any 1) |
Passport Voter ID Aadhar Card Driving License |
| Address Proof
(Any 1) |
Aadhar Card PAN Driving License Electricity Bill |
| Date of Birth Proof
(Any 1) |
Passport Birth Certificate High School Marksheet Driving Licence |
| Signature Proof
(Any 1) |
PAN Bankers Verification Passport |
| Income Proof | Salary Slip and latest Form No.16 |
| Bank Statement | Last 6 month Bank statement |
| Employment Continuity Proof | Job card by NREGA ITR of Form no. 16 Salary Slip mentioned with joining date Letter of Appointment |
MG Gloster Car Loan Self-Employed Individuals
| Category | Documents Required |
| Identity Proof (Any 1) | PAN Card Passport Voter ID Aadhar Card |
| Address Proof (Any 1) | PAN Card Voter ID Passport Electricity Bill |
| Date of Birth Proof (Any 1) | Birth Certificate Passport Driving Licence PAN |
| Signature Proof (Any 1) | PAN Bankers Verification Passport |
| Bank Statement | Bank statement of last 6 months |
| Employment Continuity Proof | Latest ITRs Shop & Establishment Act Certificate Shop & Establishment Act Certificate Sales Tax or VAT Certificate |
| Business Proof | Registration Certificate Telephone Bill/Electricity Bill Shop & Establishment Act Certificate SSI or MSME Registration Certificate |
MG Gloster Car Loan Self-Employed Non-Individuals
MG Gloster Car Loan Partnership Firms/Societies
| Category | Documents Required |
| Identity Proof (Any 1) | Driving Licence PAN Card Aadhar Card Passport |
| Address Proof (Any 1) | Electricity Bill/Telephone Bill Aadhar Card Driving License Voter ID |
| Income Proof | Audited Balance Sheet P&L Account ITR for the previous 2 years |
| Bank Statement | Last 6 month |
| Business Continuity Proof | Company ITR of the last 2 years Audited Balance Sheet TAX registration Certificate Current Account Statement |
| Additional documents | Letter of Authority or PAN Card |
MG Gloster Car Loan Private Limited/Limited Companies
| Category | Documents Required |
| Identity Proof | The latest copy of MOA and AOA Copy of Incorporation |
| Address Proof (Any 1) | SSI/MSME Registration Certificate Telephone Bill Electricity Bill Shop & Establishment Act Certificate Sales Tax Certificate |
| Income Proof | Audited Balance Sheet P&L Account and ITR for the previous 2 years |
| Bank Statement | Previous 6 Months |
| Business Continuity Proof | P&L account and ITR of the Company of the past 2 years Audited Balance Sheet Shop & Establishment Act Certificate |
| Additional documents |
List of Shareholding partners and Directors
Board Resolution PAN Card Certificate of Commencement of Business for Ltd. Co. |
MG Gloster
 |
Price – Rs. 29.98 – 36.88 Lakh |
MG Gloster Price
The price of MG Gloster starts from Rs. 29.98 lakh and increases to Rs. 36.88 lakh. MG Gloster has 5 variants: The basic Gloster model is Super 7-Str, and the top variant MG Gloster Savvy 6-Str, has a price tag of Rs 36.88 Lakh.
Prices of MG Gloster Exshowroom Delhi
| Variants | Price |
| Gloster Super 7-Str1996 cc, Automatic, Diesel, 14.5 kmpl | Rs.29.98 Lakh |
| Gloster Smart 6-Str1996 cc, Automatic, Diesel, 14.5 kmpl | Rs.31.98 Lakh |
| Gloster Sharp 7-Str1996 cc, Automatic, Diesel, 12.4 kmpl | Rs.35.38 Lakh |
| Gloster Sharp 6-Str1996 cc, Automatic, Diesel, 12.4 kmpl | Rs.35.38 Lakh |
| Gloster Savvy 6-Str1996 cc, Automatic, Diesel, 12.4 kmpl | Rs.36.88 Lakh |
Down payment required for MG Gloster Car Loan
Lenders typically fund 90% of the street price of the MG Gloster. Some consumers may also be eligible for 100% funding. The down payment is the difference between the street price of the MG Gloster and the loan amount. Customers can also negotiate a lower interest rate on their loan with the lender. Lenders usually fund 90% of the price of the MG Gloster On-Road. Entitlement to 100% financing.
About MG Gloster
MG Gloster is a 7-seater SUV available in a price range from 29.98 to 36.88 lakh *. It is available in 5 variants, a 1996 cc, a BS6 and a single automatic transmission. Other important features of the Gloster are the curb weight of litres, the ground clearance and the trunk. The Gloster is available in 4 colours. 96+ user reviews based on mileage, performance, price and general user experience of MG Gloster.
In China, the Gloster is powered by a 2.0-litre turbo gasoline engine that can produce 221 hp and 360 Nm of torque. This engine is offered with a six-speed manual transmission and a six-speed automatic transmission. Gloster is equipped with functions such as a 12.3-inch touchscreen infotainment system, a panoramic sliding roof, a 360-degree camera, three-zone climate control and a fully digital 8-inch instrument panel.
MG Gloster Mileage
The MG Gloster mileage is 12.4 to 14.5 kmpl. The Automatic Diesel variant has a mileage of 14.5 kmpl.
| Fuel Type | Transmission | ARAI Mileage | City Mileage | Highway Mileage |
|---|---|---|---|---|
| Diesel | Automatic | 14.5 kmpl | 9.48 kmpl | 10.08 kmpl |
How to get MG Gloster Car Loan
- Visit the official page of Dialabank
- Go to the Car Loan option and fill up all the required information asked like name etc.
- Our relationship manager will get in touch with you over your application and solve all your doubts.
- Contact Dialabank at 9878981166 for further queries.
MG Gloster News
MG Motor India and Devnandan Gases achieve oxygen production growth of more than 15 per cent.
- No change in the price of the entry-level Super 7-seater variant.
- The highly specified 6-seater Savvy variant sees a maximum increase of Rs 80,000.
- Specification 6 and 7 seater Sharp variants for Rs 70,000.
- The Gloster now costs 29.98 lakh and 36.88 lakh (from the showroom).
FAQs
✅ What is the Minimum and Maximum Loan Amount for MG Gloster Car Loan?
The minimum loan amount is Rs 100,000 and the maximum loan amount is Loan up to 90% of On Road Price.
✅ What is the MG Gloster Car Loan Tenure?
1 year – 7 years is the loan tenure for MG Gloster Car Loan.
