Date:15/10/2004 URL: http://www.thehindubusinessline.com/2004/10/15/stories/2004101502601906.htm

Back Magma car loans in Vizag

Our Bureau

VISAKHAPATNAM: MAGMA Leasing Ltd, the Kolkata-based company, launched its car finance scheme, Magma Carisma, here on Thursday, enabling car buyers to get loans at the rate of 2.99 per cent through the festival season.

Mr Anindya Dhar, the product head of the company, said Magma was one of the country's leading NBFCs with 54 offices in 13 States and the loan disbursement last fiscal was of the order of Rs 867 crore. The company had set itself the target of Rs 1,352 crore for the current financial year.

He said the company had a sizeable share in the commercial vehicle segment in Andhra Pradesh (the disbursement amounting to Rs 69.25 crore) and it had launched the car finance this month, first in Hyderabad and later in Vijayawada, and then in Visakhapatnam.