Important Notes

Corporate Office

Magma Fincorp Limited , Magma House, 24 Park street , Kolkata , West Bengal , 700016

Contact Number : (033) 44017231 or (033) 44017200

Email Address : [email protected]

Toll Free Number : 1800 3002 3202

Since inception in 1988, they've been driven by a single, purposeful goal- of “investing in the smallest dream“. During the past 28 years, they have serviced over one million customers and helped them evolve.

At Magma, they offer a bouquet of financial products to their customers through their 273 branches speared across 22 states. Their energetic team of 8800 Magmaites are always looking to support you as a friend financier and guide.

What They Do

Magma possesses a diversified product portfolio : loans for cars and utility vehicles, commercial vehicles, construction equipment, tractors, used vehicles, SME businesses, mortgage finance as well as Housing Finance and General Insurance. In 2012-13 year, Magma launched loans for Mortgaged Finance following the acquisition of the mortgage business of GE India. Magma entered in to General Insurance business through Magma HDI General Insurance Company, a joint venture with HDI Gerling. The HDI-Gerling brand, is a part of Hannover based Talanx group, the third-largest German insurance Group operating in around 150 counties of the world.

Why They Do it

They believe that no dream should go unfulfilled because of the lack of funds. The dream of a first-time car buyer, who wants to take his family on their first long drive, the dream of a fleet operator, whose business has grown from a single commercial vehicle to a fleet of 25. After fulfilling many such dreams, their customers’ trust has fueled their own dream- to become the largest retail-finance company in the country. Being one of the fastest growing economies, India is high on aspirations but low on funding, that’s where they step in. Everyone has a dream to reach out to, they are here to take you closer to yours.

How They Do it

People

Recruit Locally : In all of their branch offices, they recruit locally so that their first-line salespeople can work in their hometowns and customers can feel comfortable. Understanding the communities they operate in allows them to serve each client and each employee better.

Personal relationships : For many of their semi-urban and rural customers, documentation and loans are new, and sometimes difficult, concepts. By keeping their core operations (sales, credit and collections) in the Magma family, they develop personal relationships with customers, relationships based on trust, comfort and confidence.

Experience and Youth : Over 70% of Magmaites are below the age of 35, while nearly 5% of the family has 25 years of experience or more. Combining experience with youth, learned pragmatism with youthful exuberance, allows them to generate multi-faceted business solutions for clients and investors.

Diversity

Reach : 20% of their offices are urban, 34% semi-urban and 45% rural. They offer their services to anyone within a 125 km radius of a branch office, extending their reach even deeper into India’s rural heartland.

Innovations : They're always looking for new ways to become more efficient in their end-to-end loan process. New technologies are helping them institute lean, six sigma-certified processes that will improve the speed and accuracy of their services, and their young, creative team is constantly exploring attractive new loan schemes.

Security in Diversity : Geographic and business diversity combine to insulate them against economic changes in any given region or sector. No single product contributes more than 30% of their overall income, while no single state contributes more than 13%.

Systems

Vertical Approach : They respect differences in their employees’ interests and abilities, and rely on transparency to keep things running smoothly. Their company structure, ensures that there are no conflicts of interest as sales, credit-underwriting, and collections are independent verticals.

Transparency : For investors, customers and employees alike, they're an open book. Within their company, they reward performance, evaluated consistently and fairly across the board. Keeping things honest keeps things simple. That’s just good business.

Vision

Their vision is To become India’s largest retail asset finance company.

At Magma they believe they can play a part in fueling India’s growth, by investing in the dreams of its people. Through their egalitarian processes they aim to reach out to all sections of society and lend a helping hand in their progress. Their vision is to become the largest retail-asset financing company in the country tomorrow, so they begin with the smallest dream today.

Mission

To continue to provide service excellence in retail-financing to bring happiness and prosperity to all.

For over two decades, they at Magma have set new benchmarks for the retail-financing industry by setting new benchmarks for themselves. Each loan they facilitate is a testament to their core values. By opening doors for entrepreneurs across the length and breadth of India, they are helping to create the prosperity and innovation that will drive India forward. Better still, they have the privilege of improving the lives of men and women across the country, by helping them reach the tools they need to make their dreams realities.

Values

Openness and Transparency

Transparency is an essential part of who they are. They foster frankness and clarity in all their dealings. That unshakable foundation of honesty and openness helps them earn the trust of customers, employees and investors.

Integrity and Credibility

Strength and stability – moral as much as fiscal – are the backbone of a successful business. They at Magma take the high road in all they do, holding themselves to the highest financial, intellectual and ethical standards.

Fairness and Impartiality

At Magma, all dreams are treated as equal. Whether it may be the need to buy a tractor by a farmer or the working capital needs of an SME owner, they nurture each dream with full dedication and care.

Trust and Respect for People

In all their endeavours their actions, they aim to respect the law, the people they work with, the company and its assets, and themselves. Values are not just qualities they believe. Their values are who they are.

Demanding Excellence

They demand excellence in all they do, and hence growth has become a way of life for them at Magma, irrespective of the economic environment. Their treatment of customers and employees, their dealings with investors and clients and the supportive, inspiring environment they create within their company all demonstrate that.