Magnetic nanoparticles of neodymium and samarium substituted Mg-Zn-Cu, with a chemical composition of Mg0.5Zn0.5Cu0.05RxFe1.95-xO4 (x = 0.05; R = Nd, Sm) were produced via the sol-gel auto-combustion route. X-ray diffraction indicates the evolution of a cubic symmetry having Fd3m space group and no impurities at room temperature. Field-emission scanning electron microscopy images show irregularly-shaped and agglomerated grains in all samples. Fourier transform infrared examination reveals stretching vibrations among the metal cations and anions at interstitial vacancies. M-H graphs demonstrate that the prepared nanoferrites have low rentivity (0.18-0.84 emu/g) and coercivity (11.25-34.03 Oe) indicating the formation of superparamagnetic nature. From the electromagnetic traits, the observed sample's real magnetic permeability (μ'') and permittivity (ε’) along with dielectric loss and magnetic loss reduced with increasing applied field frequency, indicating the typical behaviour of spinel nanoferrites. This may be explained by Maxwell-Wagner interfacial polarisation and the electron hopping among the ferrous and ferric ions. The variations in coercivity, anisotropy constant, and electromagnetic traits provide strong evidences that all of the samples are thermally stable and have the potential to be used in solenoids and transformers and also in more resistive devices that operate at high frequency.