| Schedule of Charges | Charges (inclusive of GST) |
|---|---|
| Processing Fees | Up to 11.8% |
| Penal Charges (excluding GST) | 36% Per Annum on unpaid installment |
| Foreclosure Charges | 3% on principal outstanding for all interest-bearing schemes, Nil for non-interest-bearing schemes |
| Other Charges | |
| Bounce Charges | Rs.650 |
For a complete list of charges, please Click Here
Here’s all you need to know about your eligibility for a mobile loan.
Do you have your eyes set on your favorite smartphone but are restrained by your budget? Fret not, this is where mobile loans step in. Think of a mobile loan as a short-term financing instrument that allows you to buy a mobile and pay it back over monthly installments. So, walk away with your dream phone without paying upfront.
Smartphones are not a luxury at this point. From office work, entertainment to payments, your phone helps you navigate daily life. TVS Credit Services Ltd. is one of the most trusted financial solutions in India. Choose from a long list of top mobile brands and get your mobile loan approved in no time. Enjoy flexible repayment options without hidden tricks and upgrade your lifestyle now!
Taking a mobile loan from TVS Credit Services Ltd. is instant, hassle-free with flexible repayment options. Gone are the days when you must wait for days to get your loan approved. With minimal documentation, you will be able to secure funds in a jiffy. Find out about the benefits of mobile loans below:
Zero Down Payment: Experience no financial strain as you do not have to pay any upfront cost to buy a phone, keeping your savings intact and improving financial accessibility.
No Cost EMI: Pay nothing extra on your monthly EMIs, making your purchase affordable. Splitting the cost over months helps you manage your finances more efficiently.
Quick Loan Approval: Now the loan approval process is more streamlined to ensure you get funds quickly with instant approvals. Right from loan application to disbursal, everything happens on the double.
Less Paperwork: Time is of the essence, and thus only necessary documentation is required to complete your loan approval. Minimal documentation means time savings and quick loan disbursal.
New Borrowers Welcome: No worries if you do not have a credit history. Qualify for mobile loans even if you are a first-time borrower looking to buy your desired smartphone.
Check out if you are eligible for a mobile loan based on the following mobile loans eligibility criteria:
|
Nationality |
Indian |
|
Age |
18 – 65 years |
|
Employment |
Salaried/Self-employed |
Age: If your age is less than 21 years, a guarantor is required to process the loan.
Credit Score: The chances of mobile loan approval increase if you maintain a credit score of more than 750.
Income Stability: A minimum of 6 months of employment with your current organization is required for swift mobile loan processing.
Existing Debt: Your chance of securing a mobile loan highly depends on your current debt status and repayment pattern.
Keep the following documents handy to ensure your mobile loan application gets approved quickly:
KYC Documents: Passport, PAN Card, Aadhaar Card, Driving License, or Voter’s ID Copy.
Address Proof: Electricity Bill, Passport, or Ration Card Copy.
A mobile loan is a quick financing instrument used to secure funds to buy a smartphone without paying the full upfront cost.
Yes, you can buy a mobile phone on EMI using the mobile loan facility of TVS Credit.
Yes, TVS Credit allows flexible financing options where you can select the loan amount and tenure based on your convenience.
TVS Credit allows first-time borrowers with no credit history to secure mobile loans if they meet the eligibility criteria.
You can easily choose a tenure between 6-24 months to repay a mobile loan from TVS Credit.
Buying a mobile phone on EMI offers several benefits like improved financial management, instant approvals, zero down payment, and flexible repayment options.
