You need instant personal loans available to meet your financial needs, which you can meet through TVS Credit Personal Loan. Applying for this loan is very simple and quick. Also, the TVS Credit EMI online payment facility is available to you. Here you will learn how to apply for a TVS Credit loan online.
TVS Credit Service Ltd is a Non-Banking Service Company (NBFC) that offers a range of financial products and services such as Business loans, Two-Wheeler loans, Tractor loans, Personal loans, etc. TVS Credit personal loans are unsecured loans that can be used for various purposes such as home renovation, wedding expenses, vacation, medical emergencies, paying credit card bills, and many more. Here we will discuss the features, benefits, and charges of a TVS Credit Personal Loan and provide the link to apply.
Key Features of TVS Credit Personal Loan
- You can get a personal loan from 50 thousand to 7 lakhs.
- Competitive interest rates start from 16% per annum onwards.
- The processing fee ranges from 2% to 6% on the loan amount.
- The flexible loan tenure ranges from 6 to 60 months.
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TVS Credit Personal Loan Review
|TVS Credit Personal Loan Apply Online
|Competitive interest rate starting from 16 p.a.
|50k to 7 lakhs
|30,000/- per month
|2% to 6% on loan amount
|CIBIL Score Required
|Individuals with CIBIL Score more than 700
|PAN, Aadhar Card with linked Mobile Number for KYC
|TVS Credit Online Payment
|Auto-debit, Paytm, Google Pay, NEFT, etc.
TVS Credit Personal Loan Interest Rate
The interest rate for Personal Loan from TVS Credit Service Ltd depends on several factors, such as your credit score, income, repayment capacity, loan amount, and market conditions. It is subject to change based on these factors and the policies of TVS Credit Loan.
|Interest Rate (p.a.)
How is the TVS Credit Personal Loan interest rate determined?
The interest rate for a personal loan from TVS Credit Service Ltd is determined based on several factors, which include:
Personal Information: Your information, such as age, income, employment status, and credit history, is considered when determining the interest rate.
Loan Amount: The loan amount you are applying for can affect the interest rate. Higher loan amounts may carry higher interest rates.
Repaying Capacity: Your repaying capacity, or ability to repay the loan on time, is also considered while determining the interest rate.
Market conditions: The interest rate can also be affected by prevailing market conditions, such as the inflation rate and the policy rate set by the central bank.
Credit Score: Your credit score, which reflects your credit history and borrowing behavior, is one of the most necessary factors in determining the interest rate. A higher credit score can result in a lower interest rate.
Features & Benefits of TVS Credit Personal Loan
TVS Credit Loan offers several features and benefits to its customers, some of them are:
Loan Sanction Period: The loan sanction period is quick and efficient, ensuring you receive the funds promptly.
Balance Transfer: The Balance Transfer facility allows you to transfer your existing high-interest personal loan to TVS Credit and enjoy a lower interest rate.
Loan Amount: TVS Credit Service Ltd offers a personal loan ranging from Rs.50K to Rs.7Lakh with flexible tenure at attractive interest rates.
Pre-closure charges: The company charges minimal pre-closure on personal loans, making it easier to repay your loan and save on interest.
Low processing fee: A processing fee of 2% to 6% is levied on the amount you avail as a loan.
Digital Application Process: The digital application process is convenient, secure, and user-friendly, allowing you to apply for a personal loan from anywhere.
Low-Interest Rate: TVS Credit offers a competitive interest rate on Personal Loans, making it a cost-effective borrowing solution. The interest rates range from 16% to 35%.
No Collateral Required: The personal loan offered by TVS Credit Service Ltd. is unsecured, which means you do not need to provide any collateral to secure the loan.
Instant Approval & Disbursement: By opting for a personal loan from TVS Credit, you can get instant approval in 5 minutes through the online facility at your bank and disbursement within 24 hours.
EMI Calculator: TVS Credit offers an EMI calculator on its website, which allows you to calculate the EMI on your loan based on the loan amount, tenure, and interest rate.
Eligibility Criteria of TVS Credit Personal Loan
If you want an instant personal loan from TVS Credit Service Ltd, you must meet the following personal loan eligibility criteria:
- Age: The minimum age of the applicant should be 21 years, and the maximum age should not exceed 60 years.
- Residency: The applicant must be a resident of India.
- Employment: The applicant should be a salaried employee or self-employed professional.
- Income: Applicants must have a monthly source of income. The minimum income required for a TVS Credit Personal Loan is ₹30,000 per month.
- Employment: The applicant should be a permanent employee with a minimum of two years of work experience.
- Credit Score: The applicant should have a good credit score to increase the chances of loan approval. Individuals with CIBIL Score more than 700.
Documents Required for TVS Credit Personal Loan
The following documents are required to apply for a TVS Credit Personal Loan:
- Identity Proof: PAN card, Aadhar card, or passport.
- Address Proof: Aadhar card, passport, voter ID, or utility bills.
- Income Proof: Last three months’ salary slips, Form 16, and bank statements for the last six months.
- Signature Proof: Passport or PAN card.
Factors Affecting Your Eligibility for Personal Loan
Monthly Income: Monthly income is an essential factor in determining your eligibility for a personal loan. A higher income can increase your chances of loan approval and result in a higher loan amount.
Age: The minimum age required to apply for a personal loan is usually 21 years, and the maximum is between 60-65 years.
Monthly Expenses: Your monthly expenses, such as rent, food, transportation, and other living expenses, can impact your repayment capacity and affect your loan eligibility.
Any other loans: If you already have any loans, such as a home loan or car loan, your repayment capacity may get affected, which may affect your eligibility for a personal loan.
Credit History: Your credit history, which reflects your credit behavior and payment history, is one of the most necessary factors affecting your loan eligibility. A good credit history can increase your chances of loan approval, while a bad credit history can result in rejection or higher interest rates.
Job stability: Lenders prefer to lend to borrowers who have a stable job and steady income, as this gives them more confidence in their ability to repay the loan.
Relationship with the lender: Building a good relationship with the lender can increase your chances of loan approval and result in a lower interest rate.
Your employer’s category: Your employer’s category, such as public sector, private sector, or self-employed, can also affect your loan eligibility. Some lenders may prefer to lend to borrowers who work in a particular sector or who have a certain type of job.
How to get a TVS Credit Personal Loan Online?
TVS Credit offers personal loans to people for multiple financial needs such as home renovation, travel, medical expenses, wedding expenses, etc. To avail of a personal loan from TVS Credit, you need to follow these steps:
- Click on the link below to Download the TVS credit Saathi App and Sing up using your mobile number.
- Fill in your personal and financial details, such as your name, contact information, and employment details.
- Submit your application and wait for a response from TVS Credit Service Ltd. If your application is approved, you will receive a call from the TVS Credit Loan team for further processing.
- Once the loan is approved, you need to submit the required documents for verification. You can either upload the documents online or send them through courier.
- After the completion of the verification process, the loan amount will be disbursed to your account.
- Visit the nearest TVS Credit Service Ltd branch and speak to a loan advisor.
- Fill out the personal loan application form and provide the required documents.
- The loan advisor will verify your details and process your application.
- Once the loan is approved, you will receive the loan amount in your account.
TVS Credit Personal Loan Customer Care Number
The customer care number for TVS Credit Service Ltd is 044-66-123456 and 1800-572-2121. This toll-free number is available 24/7 for customers to get assistance with their loans and other financial services offered by TVS Credit Service Ltd.
You can also reach out to TVS Credit Service Ltd through their customer service email at [email protected] for any queries or concerns.
You can visit their nearest branch for in-person assistance.
TVS Credit Loan EMI Online Payment
TVS Credit offers multiple repayment options to make it convenient for customers to repay their loans. You can choose your TVS Credit EMIs Online Payment option at your convenience.
Auto-debit facility: You can set up an auto-debit facility with your bank to ensure that the EMI amount is automatically deducted from your bank account on the due date.
Mobile App or Website: You can log in to your TVS Credit loan account through the mobile app or website and pay the EMI using a net banking facility or debit card.
FAQ Related to TVS Credit Personal Loan
What is the TVS Credit Personal Loan limit?
The loan amount for a TVS Credit Personal Loan ranges from ₹50,000 to ₹7 lakhs. The loan tenure ranges from 6 to 60 months, providing the borrower with flexible repayment options. The loan amount and repayment tenure are determined based on the individual’s income, credit score, and repayment capacity.
What is the interest rate for TVS Credit Personal Loan?
The interest rate for a TVS Credit Personal Loan starts at 16% per annum. The interest rate is determined based on the individual’s credit score, income, and repayment capacity. TVS Credit Service Ltd offers competitive interest rates compared to other financial institutions.
What is the repayment tenure for TVS Credit Personal Loan?
The repayment of a TVS Credit Personal Loan can be done through Equated Monthly Instalments (EMIs). The EMI amount is determined based on the loan amount, interest rate, and loan tenure. The borrower can choose a convenient repayment option that suits their financial situation.
How can I pay the EMI in full on TVS Credit?
TVS Credit offers multiple repayment options to make it convenient for customers to repay their loans. You can choose your TVS Credit online payment option as per your convenience, such as your PAYTM, Airtel Payments Bank, Atom, Google Pay, or UPI platform.
What documents do I need to provide for a TVS Credit Personal Loan?
You will need to provide ID proof, address proof, income proof, and bank statement as part of the documentation process for a TVS Credit Personal Loan. The exact list of required documents may vary based on your circumstances.
Is there a processing fee for TVS Credit Personal Loan?
Yes, there is a processing fee for TVS Credit Personal Loans. The processing fee varies based on the loan amount and other factors. You can contact their customer service to know the exact processing fee for your loan.
How long does it take to get a TVS Credit Personal Loan disbursed?
The disbursement time for the TVS Credit Personal Loan may vary depending on the loan amount and other factors. By opting for a personal loan from TVS Credit Service Ltd, you can get instant approval in 5 minutes through the online facility and disbursement at your bank within 24 hours.
What is TVS Credit Personal Loan Customer Care Number, and How to Contact it?
The customer care number for TVS Credit Service Ltd is 044-66-123456 and 1800-572-2121. This toll-free number is available 24/7 for customers to get assistance with their loans and other financial services offered by TVS Credit Service Ltd. You can also reach out to TVS Credit Service Ltd through their customer service email at [email protected] for any queries or concerns.
Conclusion: TVS Credit Personal Loan of 50k to 7 lakhs is available at a competitive interest rate starting from 16% per annum with flexible tenure of 6 to 60 months. If you want a personal loan, you can apply for TVS Credit Loan online. The easier it is to apply for this loan, the quicker it is transferred to your account. But before applying for a personal loan, you must understand your requirement very well and apply for the loan accordingly, as a loan amount that is more than required can become a problem for you.