TVS group is one of the country’s largest industrial entities with more than thirty companies and over 40,000 employers all around the world. TVS is a major player in the manufacture of two wheelers, computer peripherals and vehicle parts. TVSCS (TVS Credit Services Limited) is a company promoted by the TVS Group and is spread across 16 states in the country, serving over a million customers.
By opting for a two wheeler loan from TVS Credit, you can choose the two wheeler of your choice at flexible terms and attractive rates. TVS credit offers loans for TVS vehicles at best market rates available.
Also Read: Two Wheeler Insurance.
TVS Credit Two Wheeler Loan Eligibility:
The following eligibility criteria must be fulfilled in order to apply for a two wheeler loan from TVS Credit Services:
- Applicant or borrower should be salaried or self-employed.
- Borrower should belong to a partnership or proprietorship firm.
- Public or private limited companies can also apply.
TVS Credit Two Wheeler Loan Features:
- Loan Amount: TVS Credit Services provides a loan amount of up to 90% of the on-road value of the two wheeler. Hence, the total loan amount will vary according to the choice of the vehicle you are planning to purchase.
- Rate of Interest: The current rate of interest being offered on the two wheeler loans is in the range of 15% per annum to 29% per annum. Borrowers taking a loan for the purchase of any vehicle in the TVS Scooty range can avail lower and more attractive interest rates with special discounts and deals.
- Loan Repayment: TVS Credit gives borrowers loan repayment tenure options from 12 to 48 months.
- Apart from attractive interest rates, the company has a hassle-free documentation process.
- Fast Track Loan Disbursal: The most difficult step in taking a loan is the approval process which takes a long time as the bank or lender checks the eligibility of the borrower first. The bank calculates the repayment capacity of the applicant by analysing income, expenditure and credit record from his or her bank statements. One of the key features of a TVS Credit two wheeler loan is that it can be approved within 24 hours, owing to its easy processing and quick approval process.
- Cash King: TVS Credit allows its borrowers an easier option to make monthly repayments towards the loan, in cash. You do not even have to go to the trouble of opting for a post-dated cheques system, all you have to do is visit a TVS dealership and choose the Cash-king option.
- Business Booster: TVS Credit Services offers special discounted rates on two wheeler loans for small entrepreneurs and agriculturists for the purchase of utility two-wheelers such as Max 4R or a moped.
- Women on Wheels: Women borrowers planning to take a two wheeler loan for the purchase of any of the TVS Scooty models can avail loans at special offers with highly competitive rate of interests.
TVS Credit Two Wheeler Loan Documents Required:
The following documents need to be submitted along with the duly filled application form for a two wheeler loan from TVS Credit Services:
- Identity proof such as Passport, Driving License or any government issued IDs.
- Address proof such as electricity bill, telephone bill, etc.
- Signature proof.
- Latest bank statement of borrower. This indicates the spending pattern of the applicant, allowing TVSCS to determine the repayment capacity.
- Income proof such as salary slip of applicant, Latest ITR (Income Tax Returns) filed or Form -16.
- If private or public limited company, MOA or AOA with resolution from the board.
- If a partnership firm, a declaration with partnership deed.
- All documents should be valid and genuine and supported by adequate proof.
- I am an agriculturist looking to take a two wheeler loan from TVS Credit for purchasing a Max 4R, am I eligible to apply?
Yes, TVS Credit Services provides two wheeler loans to agriculturists for purchase of any kind of utility two-wheeler.
- What is the best loan repayment option offered by TVSCS for a two wheeler loan?
TVSCS allows you to opt for the Cash-King option where you can directly go to the TVS dealer and make your loan repayment in cash.
- What is the maximum loan tenure that I can avail on a two wheeler loan from TVS Credit Services?
TVSCS provides a maximum loan tenure of up to 48 months for a two wheeler loan.
- What is the maximum percentage of financing I can get from TVSCS for buying a two wheeler for personal use?
The maximum loan amount that you can avail is 90% of the vehicle’s on-road price.
- How much time does it take to get a two wheeler loan approved at TVSCS?
A two wheeler loan at TVSCS can be approved within 24 hours of applying owing to its easy documentation and quick approval process.