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    We found 1 TVS Credit Used Car Loan
    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    13.1% - 15% Floating
    999 + applicable tax
    20K - 10L
    1-5 Years
    Response Time : Within 30 minutes
    Rs.2,500 Amazon Voucher 100% PAPERLESS APPROVAL
    What you'll love
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    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    TVS Credit Used Car Loan is Rated as "Great!" by 1282 Users

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    Car Loan BYTES FROM OUR KITCHEN

    TVS Credit Used Car Loan

    Introduction to TVS Credit used car loans

    Part of the $5 Billion TVS Group, TVS Credit Services Limited was incorporated on November 5, 2008 and is a leading financier of used cars. The company is registered with the RBI as a non-deposit taking Non-Banking Finance Company (NBFC) with effect from April 13, 2010.

    The Company has a network of over 2500 TVS Motor Company dealerships and over 20 branch offices throughout the country to handle requirements from customers. Preferred financier for reputed auto brands like TVS, TAFE and Eicher, TVS credit also has a trained workforce of 5,000 and boasts of over 5 lakh satisfied customers.


    You’re probably eligible for an TVS Used Car Loan if you are

    01
    02
    03
    04
    TVS Used Car Loan Minimum Age

    At least 24 years old

    TVS Used Car Loan Maximum Age

    Less than 65 years old

    TVS Used Car Loan Eligible Employment Type

    Salaried or self-employed
    with regular income

    TVS Used Car Loan Minimum Income

    Earn more than the minimum
    income required


    Your TVS Used Car Loan amount eligibility is based on these factors

    01
    02
    03
    TVS Used Car Loan Minimum Salary

    Minimum income required
    Rs.15,000 per month

    TVS Used Car Loan Maximum Loan to Value

    80% to 90% of the ex-showroom price

    TVS Used Car Loan EMI

    EMIs of other loans lower
    your eligibility


    Increase your eligible TVS Used Car Loan amount by these steps

    01
    02
    TVS Used Car Loan Payoff Outstanding Credit Card Bills

    Pay off your credit card bills

    TVS Used Car Loan Maximum Tenure

    Choose longer tenure loan up to 5 years


    Documentation needed to apply for an TVS Used Car Loan

    • 1. Signed application form with photograph
    • 2. Photo ID and age proof
    • 3. Residence proof
    • 4. Last 6 months bank statement
    • 5. Documentation for salaried applicants:
      • Last 3 months salary – slips
      • Form 16 or Income Tax Returns
    • 6. Documentation for self-employed applicants:

      • Last 3 years Income Tax Returns with computation of Income
      • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account

    TVS Used Car Loan Interest RatesUpdated on 24 Jun 2018

    TVS Used Car Loan Details
    Interest Rate (Monthly reducing balance) 13.10% to 15.00%
    Processing Fees ₹ 999 + applicable tax
    Loan Tenure 1 year to 5 years
    Pre-closure Charges 3% of principal outstanding (plus applicable tax) subject to remaining no. of EMI being 12 months. 4% (plus applicable tax) with remaining EMI is 24 months.
    5% (plus applicable tax) if the remaining EMI is more than 24 months
    Guarantor Requirement No guarantor required

    Features & benefits of TVS Used Car Loans

    TVS Credit used car loans are available for a wide range of customers like salaried individuals, self-employed individuals, proprietorship or partnership firms and private or public limited companies. TVS Credit used car loans offer the following features and benefits:

    TVS Credit promises greater flexibility than other car financiers because it provides used car loans to people with agricultural income or based on their past repayment record.

    1. Finance for any car manufactured in India within its pre-defined age limit.
    2. Hassle-free paperwork and faster approvals/ disbursals.
    3. No income document scheme covers a wider section of society.
    4. Greater loan eligibility—15 times of gross monthly income.
    5. Repayment period stretches up to 48 months.

    Why apply for a TVS Credit Used Car Loan on BankBazaar?

    • One stop shop for multiple products: Get best offers for personal loans, home loans and car loans at BankBazaar.com.
    • Simple online comparison: Compare loan offers on the basis of interest rate, EMI, processing fees and customer satisfaction.
    • Lowest interest rates: We have coordinated with multiple lenders in India to offer you the best used car loan interest rates in India.
    • Instant and timely quotes: Get instant loan quotes that are customized to your needs by filling in a simple online form.
    • Transparent service: Aimed at helping you make the right choice, we provide objective and transparent information about the available loan options.
    • Trust: Top private banks in India like HDFC Bank, ICICI Bank and Axis Bank use BankBazaar.com-powered technology to give their customers the best Loan experience on their websites.
    • Privacy: Your application is sent only to the lender you choose, and is never shared with anyone else.

    Eligibility criteria for a TVS Credit Used Car Loan

    To avail a used car loan from TVS Credit, an applicant may be any of the following:

    • Individual with salary
    • Individual who is self-employed
    • A proprietorship firm
    • A partnership firm
    • A private limited company
    • A public limited company

    Documentation required for a TVS Credit Used Car Loan

    • Age/Address/ID/Signature proof of the borrower
    • Income document (Salary slip/Form 16/ITR with computation of income)
    • Past bank statement
    • Photocopies of Vehicle RC Book & Insurance Certificate
    • Partnership deed with declaration for partnership firm
    • MOA/AOA with board resolution for private/public ltd firm

    FAQs about TVS Credit Used Car Loan

    • What cars can I buy with TVS Credit Services used-car loans?

      TVS Credit finances most Indian passenger cars, among them Tata, Maruti, Hyundai, Ford etc. However, some discontinued models may not be eligible for finance.

    • Is refinance possible? What is the maximum amount I can borrow with a used car loan?

      Yes, the customer can encash the value of his car to meet immediate personal and business needs. Even while he continues to use the car, the liquidity can be used to tide over his funding. The quantum depends on the eligibility based on credit policy criteria of TVS Credit.

    • Do I need a guarantor?

      No, but if the customer’s income does not meet TVS eligibility criteria, then he can club the income of his father/mother/spouse/son to become eligible for the loan. They would need to come in as a co-applicant.

    • Does the vehicle undergo verification?

      TVS makes all financed cars undergo a car valuation/verification process. For smaller tickets and lesser Loan-to-Value transactions, valuations may be waived off on a request to request basis.

    • How much finance can be availed on a used car?

      TVS Credit allows finance up to 85% of the valuation amount. A salaried professional can borrow up to 15 times their monthly gross salary. Similarly, self-employed professionals can borrow up to 4 times their annual gross declared income.

    • What is the repayment period?

      TVS Credit allows options of 12,24,36,48 or 60 months for repayment, which are designed to suit customer requirements.

    TVS Credit Services Car Loan Offer  April 2018

    Whether you want to embark on a long road trip on the weekends or commute to the office on weekdays, having a car of your own can come in handy for short and long-distance travels. To purchase a car of your choice, opt for auto finance from TVS Credit Services. It offers low-interest rate used car loans for all passenger cars from the top carmakers in the country. Applying for a car loan at TVS Credit Services is made easy through the BankBazaar website/mobile app.

    BankBazaar Super Duper Deals on TVS Credit Services Car Loan 2018

    Apply for a used car loan at TVS Credit Services through the BankBazaar website or mobile app between 1st April 2018 to 30th April 2018 and get an Amazon gift card worth Rs.2,500 on disbursal of your car loan on or before 30th April 2018. This offer is a part of the BankBazaar Super Duper Deal program. BankBazaar has partnered with Amazon to bring you this special offer on car loans from partner banks and Non-Banking Financial Companies (like TVS Credit Services).

    How to apply for the BankBazaar Super Duper Deals on TVS Credit Services car loan?

    • Visit the BankBazaar website (www.bankbazaar.com) or the BankBazaar Mobile App to apply for a car loan from TVS Credit Services.
    • In the TVS Credit Services car loan section of the website, click on the 'Get Quote' button. You will get a car loan quote within just 30 minutes of requesting it.
    • If your car loan application is approved, then upon disbursal of the loan amount, an Amazon gift card worth Rs.2,500 will be sent to your email ID.
    • Login to the Amazon website or the Amazon mobile app using your username and password to redeem the gift card. Enter the code available on the gift card, click on ‘add to your account', and the balance will be added to your Amazon account.

    Terms and Conditions of BankBazaar Super Duper Deals

    • BankBazaar Super Duper Deals Offer on car loans is effective from 1 April 2018 to 30 April 2018.
    • Get an Amazon gift card worth Rs.2,500 on the disbursal of your car loan on or before 30 June 2018.
    • This offer is valid for one order per car loan for a customer during the Super Duper Deals
    • The Amazon gift card will be sent to you within 45 working days of disbursal of the car loan. If you haven't received the gift voucher within the specified time, you can write to BankBazaar at support@bankbazaar.com or call +914466511800.
    • Redemption of the gift voucher is as per Amazon’s terms and conditions.
    • Applicants must be 18 years or above at the time of submitting their car loan application forms. He or she must meet the car loan eligibility criteria set by TVS Credit Services. The approval or rejection of a car loan application is solely up to the lender.

    TVS Credit Used Car Loan Reviews

    • TVS Credit Services Car Loan
      "Very good"
      0.5 4.5/5 "Excellent!"
      I have approached TVS for my car loan. The loan amount was 3 lakhs and the interest rate was 155 which is very high than other banks .I had some issues in finalizing the card so I have can celled the plan. The customer service and responses was really good.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 29, 2018
    • TVS Credit Services Car Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      My car loan was taken with TVS . The interest rate was 15% which is high so I cancelled the loan. The customer service and responses was very good. The interest rate was 2 lakhs . My overall experience was good so I would like to recommend to others.
      Was this review helpful? 0
      , pune
      Reviewed on May 29, 2018
    • TVS Credit Services Car Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I had applied for the car loan with the TVS CREDIT SERVICES but I haven't got the loan because of the interest rate, but their customer support service and their response was pretty good and because of the interest rate I have cancelled my car loan application.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 28, 2018
    • TVS Credit Services Car Loan
      "TVS car loan"
      0.5 4.5/5 "Excellent!"
      I have taken a car loan from TVS CREDIT SERVICES and the approved loan amount was 1.90 lakhs. The rate of interest was 14%. The monthly emi is 16000 for tenure of 13 months .There was some processing fee from TVS credit services. Easy documentation done.
      Was this review helpful? 0
      , chennai
      Reviewed on May 18, 2018
    • TVS Credit Services Car Loan
      "TVS credit car loan"
      0.5 4.0/5 "Great!"
      I have taken a car loan from TVS CREDIT SERVICES and the approved loan amount was 2.26 lakhs. The rate of interest was nominal. The monthly emi is 6100 for tenure of 5 years.There was a processing fee was 3% of the approved. The customer service and response was good.
      Was this review helpful? 0
      , thiruvananthapuram
      Reviewed on May 17, 2018
    • TVS Credit Services Car Loan
      "Good banking"
      0.5 4.0/5 "Great!"
      I have taken a car loan from TVS CREDIT SERVICES and the approved loan amount was 2.80 lakhs. The rate of interest was 15%. The monthly emi is 9500 for tenure of 40 months .There was no processing fee from TVS credit services. Easy documentation done.
      Was this review helpful? 0
      , karimnagar
      Reviewed on May 17, 2018
    • TVS Credit Services Car Loan
      "Good experience"
      0.5 4.0/5 "Great!"
      I have taken a car loan from TVS CREDIT SERVICES and the approved loan amount was 4.17 lakhs. The rate of interest was 14%. The monthly emi is 10490 for tenure of 5 years.There was a processing fee of 1% of the approved loan amount. The customer service and response was good.
      Was this review helpful? 0
      , chennai
      Reviewed on May 17, 2018
    • TVS Credit Services Car Loan
      "TVS credit car loan"
      0.5 5.0/5 "Blown Away!"
      I have taken a car loan from TVS CREDIT SERVICES and the approved loan amount was 3 lakhs. The rate of interest was 9.10%. The monthly emi is 10260 for tenure of 3 years.There was a processing fee of 3700. The documentation was very easy.
      Was this review helpful? 0
      , ahmednagar
      Reviewed on May 17, 2018
    • TVS Credit Services Car Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have taken a car loan from TVS CREDIT SERVICES and the approved loan amount was 3.40 lakhs. The rate of interest regarding the loan has not been shared. The monthly emi is 9093 for tenure of 5 years.There was a processing fee for the RC transfer. Other than that i was really a friendly service.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 17, 2018
    • TVS Credit Services Car Loan
      "High rate of interest"
      0.5 1.0/5 "Really Bad"
      I have cancelled the loan from TVS credit services as the rate of interest mentioned was 8% flat. It will not get depreciated after the EMI payments.The process was not well. They have approved the loan amount without my permission. I have not asked them to process the loan as I did not give my consent for the same.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 16, 2018
    • TVS Credit Services Car Loan
      "TVS car loan"
      0.5 3.0/5 "Satisfactory"
      I have taken a car loan from TVS CREDIT SERVICES and the approved loan amount was 2 lakhs. The rate of interest was 13 %.The monthly emi is 6000 for tenure of 4 years. I had to do the follow up. There was no proper response from TVS regarding my car loan.
      Was this review helpful? 0
      , chennai
      Reviewed on May 14, 2018
    • TVS Credit Services Car Loan
      "TVS credit card loan"
      0.5 5.0/5 "Blown Away!"
      I have taken a car loan from TVS CREDIT SERVICES and the approved loan amount was 2.3 lakhs. The rate of interest was around14.5%. I have not negotiated with the bank to reduce the rate of interest .There was a processing fee which has been taken from the loan amount.
      Was this review helpful? 0
      , chennai
      Reviewed on May 13, 2018
    • TVS Credit Services Car Loan
      "TVS car loan"
      0.5 3.5/5 "Pretty good"
      I have taken a car loan from TVS CREDIT SERVICES and the approved loan amount is 2.37 lakhs. The rate of interest for the approved loan amount was nominal. The monthly emi is 5500 for tenure of 5 years. I got the loan on time. The response from there end was good.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 13, 2018
    • TVS Credit Services Car Loan
      "High rate of interest"
      0.5 1.0/5 "Really Bad"
      I have applied for a car loan from TVS credit and the rate of interest was very high.It was around 16% for 2 to 3 lakhs. I have negotiated with the bank to reduce the interest. Since there was no proper response from there end i had to close the car loan application with TVS credit.
      Was this review helpful? 0
      , coimbatore
      Reviewed on May 12, 2018
    • TVS Credit Services Car Loan
      "Average Service"
      0.5 3.0/5 "Satisfactory"
      I've applied for a car loan from TVS Credit but they do not provide loans to buy Taxi Cabs. TVS should consider extending their services to people who want to step into a transport business which will in turn beneficial for them also. Overall I never had any issues with their service.
      Was this review helpful? 0
      , chennai
      Reviewed on May 11, 2018
    • TVS Credit Services Car Loan
      "TVS car loan"
      0.5 5.0/5 "Blown Away!"
      I have applied for a car loan from TVS credit services as i have already taken the loan from Kotak mahindra bank. Since the dealer is in tie up with Kotak it was really easy to do the process for my car loan. Thats the only reason i have chosen the other institution.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on May 11, 2018
    • TVS Credit Services Car Loan
      "TVS CREDIT car loan"
      0.5 5.0/5 "Blown Away!"
      I have taken a car loan from TVS CREDIT SERVICES. The approved loan amount is 224700. The rate of interest for the card is 16%. The monthly EMI comes as 5120. The total tenure was for60 months. They do have a processing fee and charges around 3000.
      Was this review helpful? 0
      , jodhpur
      Reviewed on Mar 22, 2018
    • TVS Credit Services Car Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have taken a car loan from TVS CREDIT SERVICES. The approved loan amount is 5 lakhs. The rate of interest for the card is 13.10%. The monthly EMI comes as 11403. The total tenure was for 5 years. They do have a processing fee and charges around 4000.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Mar 22, 2018
    • TVS Credit Services Car Loan
      "GOOD SERVICE"
      0.5 4.0/5 "Great!"
      The rate of interest was been 15 to 16 % with Tvs car loan service which was been nominal compared to the market value. They done the verification process which was been smooth. The documents have been collected from my door step. It was a good experience with Tvs Car loan service.
      Was this review helpful? 0
      , indore
      Reviewed on Mar 13, 2018
    • TVS Credit Services Car Loan
      "High ROI"
      0.5 4.0/5 "Great!"
      TVS credit services promised me that I would get get my car loan within ten days. But it took one month. The executive took five cheques and he made mistake because of which the process got delayed. There was a good response overall. The rate of interest was pretty high though I am not sure of the same. I have taken a Ford fiesta.
      Was this review helpful? 0
      , bangalore
      Reviewed on Mar 13, 2018
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