About Three Wheeler Loan

Want a three-wheeler without paying a full price upfront? Rather than worrying about managing your finances, you can just focus on growing your business and profitability. With affordable instalments, you can repay the three wheeler loan over a set term. TVS Credit aims to help small business owners, entrepreneurs, and auto-rickshaw drivers by offering quick loan approval, affordable interest rates, and flexible repayment tenure. No need to deplete your savings if you are considering the purchase of a new three wheeler.

In addition, there is no need to wait long as three wheeler loan at TVS Credit can be approved within 24 hours. The goal is to reduce the financial burden of buying a three-wheeler. As the popularity of three wheelers is growing, 3 wheeler loans are enhancing earning opportunities for individuals and businesses.

What are the Key Benefits of Three Wheeler Loans?

• Quick Loan Approval: Within 24 hours* of proper documentation, three-wheeler loan will be approved to secure quick funds.
• Easy Documentation: Get on the road faster. The entire loan process is simplified and fast-tracked with minimal documentation.
• No Income Document Scheme: No traditional income proof. No problem. It makes three-wheeler financing more accessible without the stress of traditional income documentation.
• Low Interest Rates: Make a budget-friendly purchase. With affordable interest rates, you can easily fulfil your dream of a three-wheeler within your budget.
• Flexible EMIs: Repay on your terms. Choose to pay back the loan as per your convenience by selecting a suitable loan tenure.

What are the Charges on Three Wheeler Loans?

Below are the main charges associated with three-wheeler loans:

• Processing Fees: Up to 5.9%
• Foreclosure Charges: 3-5%* on principal outstanding
• Penal Charges (excluding GST): 36% per annum on unpaid instalment
• Bounce Charges: ₹500
• Duplicate NDC/NOC Charges - physical copy: ₹500

Note that additional changes can be involved across the entire loan journey.

What are the Eligibility Criteria for a Three Wheeler Loan?

Here are the conditions that needs to be met to become eligible for a three wheeler loan:

• Indian citizen
• 18-65 years* of Age
• Active employment status
• Minimum 1 year employment stability

What are the Documents Required for Three wheeler Loans?

Check out the documents required to apply for a three wheeler loan:

For Salaried/Self Employed Individuals

For Proprietorship and/or partnership firm

For Private and/or public limited companies

Application Process for a Three Wheeler Loan

• Choose the three-wheeler vehicle for which you need funds.
• Submit the required documents for loan approval.
• As soon as loan is approved, funds will be disbursed without delay.