When money is needed most, the first thing that comes to everyone’s mind is personal loan. If you want to take a personal loan at a low interest rate, TVS Credit Personal Loan is the best option. In this article, we will explain everything about TVS Credit Personal Loan.
TVS Credit Saathi App: Your Gateway to Hassle-free Personal Loans
Gone are the days of tedious paperwork and lengthy approval processes. TVS Credit has revolutionized the lending industry by introducing the TVS Credit Saathi App, available for download on both the App Store and Play Store. With this app, getting a personal loan has never been easier.
Benefits of TVS Credit Personal Loan
- Same Day Disbursal: Imagine being able to apply for a loan and having the funds in your bank account on the very same day. That’s the reality with TVS Credit. The Saathi app allows you to apply for a loan of your choice from anywhere and at any time, ensuring quick and hassle-free disbursal.
- 100% Paperless Process: Say goodbye to the mountains of paperwork that traditional lenders demand. TVS Credit’s Personal Loan is entirely app-based, from application to disbursement. This means no more endless forms to fill out or documents to submit – everything is handled seamlessly through the app.
- Quick and Easy Application: Getting a personal loan with TVS Credit is a breeze. Just provide a few basic details, verify them, and watch as the loan amount is credited directly to your bank account without any hassle. It’s as simple as it sounds.
- Flexible Loan Amount and Tenure: TVS Credit understands that financial needs vary from person to person. That’s why they offer flexible loan amounts ranging from ₹50,000 to ₹5 lakhs. Additionally, you can choose a repayment tenure that suits you, with options ranging from 6 to 60 months. This ensures that your loan is tailored to your specific requirements.
- Zero Documentation – Just the Basics: TVS Credit believes in keeping things simple. To avail their personal loan, you only need to provide basic details such as your PAN number, Aadhar number, and address proof. No more searching for endless documents – TVS Credit values your time.
- Personalized Assistance with TIA: Throughout your loan journey, TVS Credit’s digital assistant, TIA, will be by your side, ensuring a seamless experience. Whether you have questions or need assistance, TIA is there to help, making your loan process even more user-friendly.
| Finance Amount: | ₹50,000 – ₹5 lakhs |
| Repayment Tenure: | Flexible options ranging from 6 to 60 months |
| Rate of Interest / Annual Percentage Rate (APR): | Competitive rates ranging from 16% to 35% (Amort IRR – Annualized Rate of Interest) |
| Processing Fees: | Minimal processing fees ranging from 2% to 6% |
For example, if you borrow ₹75,000 at an interest rate of 2% per month for 12 months (interest rate on reducing balance method), you can expect to pay ₹1500 as a processing fee and ₹10,103 as interest. The total amount to be repaid after a year will be ₹86,603.
TVS Credit Personal Loan Eligibility Criteria
TVS Credit Personal Loan is designed to be inclusive. Here’s who can apply:
- Salaried Employees with a monthly income exceeding ₹25,000.
- Individuals with a CIBIL Score of more than 700.
TVS Credit Personal Loan Documents Required
Before you start your application, make sure you have the following documents ready:
- PAN Number
- Aadhar Number
- Address Proof
How to apply TVS Credit Personal Loan?
You can do it in just a few simple steps:
- Download TVS Credit Saathi App: Start by downloading the app and signing up using your mobile number.
- Verify Your Profile: Update your KYC details and check your eligibility.
- Complete Video KYC: After choosing your desired loan amount and tenure, complete the video KYC process.
- Confirm Your Bank Details: Ensure a smooth loan disbursal by confirming your bank details and completing the E-mandate process.
FAQ
Is TVS Credit Personal Loan available only through the app?
No, while the application process is primarily app-based for convenience, you can also reach out to TVS Credit through their website or customer support for assistance.
What is the interest rate for TVS Credit Personal Loan?
TVS Credit offers competitive interest rates ranging from 16% to 35%. The exact rate you qualify for depends on your profile and creditworthiness.
Can self-employed individuals apply for TVS Credit Personal Loan?
Currently, TVS Credit Personal Loan is available for salaried employees. However, they may introduce products for self-employed individuals in the future.
How long does it take for the loan amount to be disbursed?
With the TVS Credit Saathi App, you can expect same-day disbursal, making it one of the quickest options for personal loans.
Are there any hidden charges with TVS Credit Personal Loan?
TVS Credit is committed to transparency. Any applicable charges, including processing fees, will be clearly communicated during the application process, and there are no hidden fees to worry about.
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