If you really think about it, it's easier getting a loan for a car than a loan for bus fare!
If you really think about it, it's easier getting a loan for a car than a loan for bus fare!
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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.5,000 Amazon Voucher free Paperless approval available
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    TVS Credit Used Car Loan is Rated as "Great!" by 1223 Users
    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 16 Jan 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 Used Car Loan Reviews

    • TVS Credit Services Car Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      The rate of interest was normal with TVS credit services. They charged a processing fee between 4300 - 4500 rupees. I had taken 3.5L and purchased a Polo. The executive came to my place and collected the documents. They took 2 more days from the promised day for the disbursement.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jan 16, 2018
    • TVS Credit Services Car Loan
      "Better service"
      0.5 4.0/5 "Great!"
      My car loan was taken with TVS credit services through online portal. They took 4 to 5 days for the loan disbursement, it was not on time. The rate of interest was quite high when compared to other banks. The documentation process was easy. I have purchased a Hyundai i20.
      Was this review helpful? 0
      , thiruvananthapuram
      Reviewed on Jan 16, 2018
    • TVS Credit Services Car Loan
      "Good"
      0.5 5.0/5 "Blown Away!"
      I had taken a car loan with TVS Credit Services with the help of online portal. The rate of interest was quite high when compared to other bankers. The documentation process was very simple and collected only less number. Overall it was good.
      Was this review helpful? 0
      , jaipur
      Reviewed on Jan 16, 2018
    • TVS Credit Services Car Loan
      "Dis satisfactory"
      0.5 1.0/5 "Really Bad"
      I had applied for a car loan with TVS credit service through online channel. I didn't received a call from the customer care for more than 20 days. The car loan was taken in my wife's name. They took very long for the loan disbursement and the response was not proper. At last I took 3,00,000 rupees which was not satisfactory.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Jan 13, 2018
    • TVS Credit Services Car Loan
      "Car loan from TVS"
      0.5 4.0/5 "Great!"
      I have taken a car loan from TVS credit. The approved loan amount was 2 lakhs. The rate of interest was 8%. The monthly EMI is 6170. The total tenure is for 42 months. The processing fee was around 6800. The asked for minimal documents. The experience is good.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 03, 2018
    • TVS Credit Services Car Loan
      "Recommedable bank"
      0.5 4.0/5 "Great!"
      I have take a car loan from TVS credit services. The approved loan amount was 2 lakhs 47 thousand. The rate of interest is 13%. the monthly EMI comes around 12390 rupees. The total tenure was for 48 months. The documentation process is good.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 03, 2018
    • TVS Credit Services Car Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      TVS credit services are overall good on the car loan and it is a very good experience. I got the 100% of the loan and the rate of interest was of 8.45%. I have taken a swift car. The process for the after loan services are also satisfactory and without any inconvenience.
      Was this review helpful? 0
      , thanjavur
      Reviewed on Nov 21, 2017
    • TVS Credit Services Car Loan
      "Satisfactory"
      0.5 5.0/5 "Blown Away!"
      It as a good experience with TVS Credit services for the car loan. They were helpful and they completed the process on time. The rate of interest was on the higher side. It was around 15% and the processing charges was also normal. It was a comfortable process.
      Was this review helpful? 0
      , nagpur
      Reviewed on Nov 21, 2017
    • TVS Credit Services Car Loan
      "Not consistent on the ROI"
      0.5 2.0/5 "Expected more"
      The registration certificate transfer charges are too costly at TVS credit services for the car loan when compared to the other agents. It was around 5200. I was initially informed a rate of 8.8% and later after the document submission and after I signed the same I was informed a rate of 14.5% fixed rate. The processing fee is okay for me.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Nov 21, 2017
    • TVS Credit Services Car Loan
      "Nice experience"
      0.5 5.0/5 "Blown Away!"
      FORD FIESTA CLASSIC is a nice car. I get 18 to 19 KMPH mileage with the AC on. I have taken my car loan from TVS Credit services and the customer services are good. They were very fast and they offered me loan of 3.5 Lakh. The cost of the vehicle was of 5.5 Lakh. The rate of interest was of 13%.
      Was this review helpful? 0
      , tiruchirapalli
      Reviewed on Nov 18, 2017
    • TVS Credit Services Car Loan
      "Average experience and high on charges"
      0.5 3.0/5 "Satisfactory"
      After approving my car loan I got my payment only after 20 days. TVS credit services has delayed and they were also high on the rate of interest. I got a rate around 13.63% I think. There are processing charges as well. I purchased a Chevrolet Beat beat.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 18, 2017
    • TVS Credit Services Car Loan
      "Average service"
      0.5 4.0/5 "Great!"
      The service was good with TVS credit services,but I have post pone the car plan at present ,so that was the reason I haven't got the car loan with TVS credit services.. The rate of interest and the charges are average with TVS credit services..
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 16, 2017
    • TVS Credit Services Car Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have requested for a car loan with TVS Credit Service.The loan amount is two lakhs.Rate of interest is 16% nominal as compared to other banks in the market.The service given by the tvs is good and they have provided the complete details for the loan request.
      Was this review helpful? 0
      , nagpur
      Reviewed on Nov 16, 2017
    • TVS Credit Services Car Loan
      "Overall good"
      0.5 4.5/5 "Excellent!"
      The process is good at TVS credit services for the car loan. I was contacted on time and I was given the details. The loan is yet to be disbursed because I am yet to submit one document to them. The previous car NOC is pending from my end. Overall good.
      Was this review helpful? 1
      , pune
      Reviewed on Nov 11, 2017
    • TVS Credit Services Car Loan
      "Not satisfied"
      0.5 2.0/5 "Expected more"
      I have taken my car loan with TVS credit score service. I am not satisfied with the loan process. There is no transparency in the rate of interest which was 14% so I have cancelled the application. I have taken 2 lakhs and I have taken for 2 years . The customer service and responses was not satisfactory . My overall experience was not satisfied.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Nov 11, 2017
    • TVS Credit Services Car Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have my car loan with TVS credit service . I have taken 4 lakhs and the interest rate was 8-9% which was average in the market. The customer service and responses was excellent. The processing fee was 5,500 and RDO charge was 4700. They have sanctioned the loan with the committed time. My overall experience was very good.
      Was this review helpful? 0
      , mysore
      Reviewed on Nov 11, 2017
    • TVS Credit Services Car Loan
      "Service part should be improved"
      0.5 5.0/5 "Blown Away!"
      I took the car loan behalf of my wife, my car price was around Rs.16.5 lakhs, I taken loan amount of Rs. 4 lakhs for the tenure of four years. Customer service is average, they need work on service part. They have disbursed the amount on time its good.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Nov 10, 2017
    • TVS Credit Services Car Loan
      "Fast process but high on ROI"
      0.5 5.0/5 "Blown Away!"
      TVS credit services was very good and I got the car loan within 3 days. It was a very fast process and the customer services are good. The documents was taken on time. I taken a Maruti Suzuki Alto. I got 80% of the cost of the vehicle. The rate interest was around 14%.
      Was this review helpful? 0
      , bikaner
      Reviewed on Nov 09, 2017
    • TVS Credit Services Car Loan
      "Service is good. ROI and high"
      0.5 5.0/5 "Blown Away!"
      The process was not on time from TVS credit services. I have taken a car loan. I received the loan after a week. I have purchased a second hand Maruti Suzuki Alto card and I got 80% of the loan amount. The services and response was good. The rate of interest and processing charges were average.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 07, 2017
    • TVS Credit Services Car Loan
      "Average service"
      0.5 2.5/5 "Just OK"
      I previously applied for the car loan from TVS credit service, my loan application was approved and the requested amount was disbursed. The loan amount was for 2.25 lakhs with the rate of interest of 11.5% which is high when compared to other sources. No door step service was provided for document collection. The customer service was average and up to the mark.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 07, 2017
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