Car Loan for MG Hector: Features & Benefits
MG Hector Car Loan Interest Rate | 7.35%* per annum |
MG Hector Car Loan Min Loan Amount | ₹ 100,000 |
MG Hector Car Loan Max Loan Amount | Loan up to 90% of On Road Price |
(Loan to Value) | or 100% of Ex-showroom Price |
MG Hector 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 Hector 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 Hector 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 Hector Car Loan EMI Calculator
MG Hector Car Loan EMI starts at Rs 29,093 per month for a tenure of 60 months @ 9.8 for a loan amount of Rs 13.75 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 Hector. To check your EMI visit the Dialabank EMI Calculator page.
MG Hector 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 Hector 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 Hector 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 Hector Car Loan Interest Rate, Fees, and Charges
Charges | New Car Loan | Used Car Loan |
MG Hector Car loan Interest Rate | 7.35% | 11.80% p.a. to 13.80% p.a. |
MG Hector Car loan Processing fee | 0.40% | 0.40% |
Issuance of Duplicate Repayment Schedule Charges | Around Rs.500 | Around Rs.500 |
MG Hector Car loan Foreclosure Charges | 6% | 6% |
Penal Interest | 2% PM | 2% PM |
MG Hector 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 Hector Car Loan
MG Hector 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 Hector 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 Hector Car Loan Self-Employed Non-Individuals
MG Hector 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 Hector 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 Hector
Price – Rs.13.17 – 18.85 Lakh |
MG Hector Price
The price for MG Hector starts at 13.17 Rs. Lakh and goes up to 18.85 Rs. Lakh. MG Hector is offered in 13 variants. The basic model from Hector is Style MT and the top variant MG Hector Sharp Diesel MT with a price tag. from Rs.18.85 lakh.
Prices of MG Hector Exshowroom Delhi
Variants | Price |
Hector Style MT | Rs. 13.17 Lakh |
Hector Super MT | Rs. 14.16 Lakh |
Hector Style Diesel MT | Rs. 14.58 Lakh |
Hector Hybrid Super MT | Rs. 14.77 Lakh |
Hector Super Diesel MT | Rs.15.68 Lakh |
Hector Hybrid Smart MT | Rs.16.03 Lakh |
Hector Smart CVT | Rs.16.79 Lakh |
Hector Smart DCT | Rs.16.79 Lakh |
Hector Hybrid Sharp MT | Rs.17.37 Lakh |
Hector Smart Diesel MT | Rs.17.39 Lakh |
Hector Sharp CVT | Rs.18.37 Lakh |
Hector Sharp DCT | Rs.18.37 Lakh |
Hector Sharp Diesel MT | Rs.18.85 Lakh |
Down Payment required for MG Hector Car Loan
Lenders typically fund 90% of the MG Hector retail price. Some consumers may also be eligible for 100% funding. The down payment is the difference between the MG Hector sale price and the loan amount. Customers can also negotiate a cheaper price. The interest rate on your loan from the lender. Lenders typically finance 90% of the price of the MG Hector On-Road. Right to 100% financing.
About MG Hector
MG Hector is a 5-seater SUV that is available in a price range from 13.17 to 18.85 lakh. It is available in 13 variants, 2 BS6-compliant motor options and 2 gear options: manual and automatic. Other important Hector specifications are a curb weight of 192 litres, ground clearance and a 587-litre trunk. Hector’s facelift includes the same 1.5-litre petrol 1.5-litre hybrid gasoline engine and 2.0-litre diesel engine.
A six-speed manual transmission is standard, while a DCT and CVT unit is only offered with the gas mill. Front bumper, new grille, new alloy wheels and an updated rear profile. The interior of the model is now equipped with features such as ventilated front seats, wireless charging, two-tone beige and black upholstery and leather seats. Get Hinglish voice commands, the details of which are available here.
MG Hector Mileage
Fuel Type | Transmission | ARAI Mileage |
Petrol | Manual | 14.16 kmpl |
(1451 cc) | ||
Hybrid (Electric + Petrol) | Manual | 15.81 kmpl |
(1451 cc) | ||
Diesel | Manual | 17.41 kmpl |
(1956 cc) | ||
Petrol | Automatic (Dual Clutch) | 13.96 kmpl |
(1451 cc) | ||
Petrol | Automatic (CVT) | 13.96 kmpl |
(1451 cc) | ||
How to get MG Hector 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 Hector News
You Can Now Control The Temperature Of Your MG Hector With An Apple Watch
MG Hector receives remote control of the weather via the Apple Watch. Now you can use the clock to turn the air conditioning on and off and set a temperature. It has other remote control functions such as engine start/stops and door lock / unlocks. Ventilated seats, panoramic sunroof, 10.4-inch touchscreen infotainment and a 360-degree camera. Price from 13.17 lakh rupees to 18.85 lakh rupees (ex-showroom).
MG Hector Gets Gloster-like ADAS Technology In Indonesia
The MG Hector, known in Indonesia as the Wuling Almaz, has just received a new high-end RS variant. MG offers the Hector according to Indian specifications with safety functions such as brake assist, up to six airbags, electronic stability control and traction control. The Hector with Indian specifications could be equipped with ADAS in the near future. When this is presented, MG Motor India is expected to price the updated SUV at a slight premium over existing prices (Rs 12.89 lakh to Rs 18.42 lakh ex-showroom).
FAQs
✅ What is the On Road price of MG Hector?
✅ What are the latest May sales on MG Hector?
✅ What is the Minimum and Maximum Loan Amount for MG Hector 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 Hector Car Loan Tenure?
1 year – 7 years is the loan tenure for MG Hector Car Loan.