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TVS Credit Personal loans come with interest rates starting from 16% p.a. and loan amounts up to Rs. 5 lakhs. The repayment duration is flexible with a 100% paperless process and immediate approval. Let us now read in detail about the key highlights, eligibility criteria, documents required, interest rates, etc. Of this personal loan.
Key Highlights of the TVS Credit Personal Loan
Interest rate: 16% to 35% Annualized ROI Loan amount: From Rs. 50,000 to Rs. 5,00000 Tenure: 6 to 60 months Processing fees: Up to 10% |
Features and Benefits of the TVS Credit Personal Loan
- Instant approval: You can apply for a preferred amount from anywhere by installing the Saathi app. You can get those funds transmitted to your bank account on the same day.
- Flexible loan amount and tenure: Get flexible loan amounts (Easy EMI options) in the range of Rs. 50,000 to Rs. 5,00,000 and repayment tenures in the range of 6 to 60 months.
- No paperwork is needed: The method of applying for a personal loan is 100% paperless. It is completely app-based and comes with zero paperwork. Only basic details like PAN, Aadhaar number, and address proof are required to avail the TVS Credit personal loan.
- Swift and simple application: The application process is easy and hassle-free. All you must do is provide a few basic details and verify the same. The application will then be approved, and the amount credited to your bank account without any hassle.
- Personalized assistance: To ensure a smooth and happy loan journey for you, TVS’s digital assistant TIA is accessible at every point of the journey.
What is the use of the TVS Credit Personal Loan
TVS credit personal loans don’t have any end usage restriction. They can be used for various purposes like home renovation, meeting vacation expenses, paying medical and credit card related bills, education related expenses, and emergency financial requirements.
Fees and Charges on TVS Credit Personal Loans
Schedule of charges | Charges (Inclusive of GST) |
|---|---|
Processing fee | Up to 10% |
Penal charges | Up to 36% per annum on unpaid installments |
Foreclosure charges | Charged as % of principal outstanding. The charges are as below: If foreclosure is done between 16 days to 12 months: 7.08% out the principal outstanding. 13 to 24 months: 4.72% of the principal outstanding. Greater than 24 months: 3.54% |
Other charges | |
Bounce charges | Rs. 0 to Rs. 750 |
Duplicate NDC/NOC charges | Rs. 0 to Rs. 500 |
TVS Credit Personal Loan Eligibility Criteria
- Income: Salaried individuals with income more than Rs. 25,000 per month are eligible to apply for this loan.
- CIBILTM Score: Individuals with a CIBILTM score of more than 700
Note: The eligibility criteria may vary on a case-to-case basis.
TVS Credit Personal Loan Documents Required
- Aadhaar Card Number
- PAN Card Number
- Address Proof
How to Apply for a TVS Credit Personal Loan?
Step 1: Download the TVS Credit Saathi app and enroll using your mobile number.
Step 2: Update your KYC details, check the eligibility, and verify your profile.
Step 3: After choosing your loan amount and tenure, complete the video KYC process.
Step 4: Authenticate your bank details and work towards finishing the e-mandate process to get the loan transferred directly to your bank account.
What Are the Steps to Download a TVS Credit Loan Statement Online?
Methods to Download TVS Credit Loan Statements
1. TVS Credit Saathi App
- Download and install the TVS Credit Saathi app.
- Log in using your registered mobile number.
- Tap on the menu button.
- Select 'My Loans'.
- Choose the loan account for which you need the statement.
- Tap 'Request for Statement'.
- Select 'Statement of Accounts'.
- Enter your email ID.
- Hit 'Submit'.
- The loan statement will be sent to your email inbox.
2. TVS Credit Official Website
- Visit www.tvscredit.com.
- Log in using your registered mobile number.
- Click on the 'Self-Service' tab.
- Select 'Instrument Details' from the left panel.
- Choose the loan agreement number for which you need the statement.
- Click on 'SOA' to view and download your loan account statement.
3. TVS Credit WhatsApp Account
- Save the TVS Credit WhatsApp number: +91 638-517-2692.
- Open a chat window with this number.
- Send a message saying "Hi."
- Choose the option for "Existing Loan Details."
- Enter your loan agreement number or registered mobile number.
- Complete the OTP validation process.
- Select your loan agreement number from the options provided.
- Choose "Statement and Other Docs."
- Request the loan statement.
- Download the statement provided by the chatbot.
Disclaimer: The interest rates, loan amount, charges, eligibility criteria, and steps to apply are as of when this page was written and are subject to change. For exact information, refer to the official portal of TVS Credit or contact the lender.
TVS Credit Personal Loan – FAQS:
1. Is it possible to cancel a TVS Credit personal loan after signing?
No, cancellation is not possible once the customer has signed the loan application digitally. This signature means that the agreed upon online personal loan amount will be disbursed.
2. What is the speed with which I can get a personal loan online with TVS Credit?
TVS Credit personal loans online get disbursed within 24 hours after successful approval. The application process is easy, convenient, rapid, and paperless. TVS Credit also provides personalized guidance to enable you to complete the application process seamlessly.
3. What is the Current Interest Rate for TVS Credit Personal Loans?
As of now, TVS Credit offers personal loan interest rates ranging from 16% to 35% per annum. The exact rate may vary based on factors like your credit profile, loan amount, and tenure.
Disclaimer: This page includes information that has been compiled from many sources and is only offered for informational purposes. Since this type of data might change over time, we cannot guarantee that the information supplied or included within it is accurate. It is anticipated that the user would confirm with the relevant source prior to taking any choices or actions.
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