What is the tenure of three wheeler loans?

TVS Credit offers three wheeler loans with a maximum period of four years.

What is the maximum amount for a three wheeler loan?

The loan amount for three wheelers depends on the vehicle and customer profile.

How much time it takes for three wheeler loan approval?

After proper submission of documents, loan approval usually takes one working day.

What is the interest rate on three wheeler loans?

TVS Credit ensures competitive interest rates, based on the customer's location and profile and the loan tenure.

Get Three Wheeler Loans at Best Rates

Fill up the form below for a quick loan enquiry!

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Which Three Wheeler You Want to Buy?

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Benefits & Features

1-day Loan Approval*

Experience fast loan approval after the proper submission of required documents. Enjoy seamless loan application process with minimal documentation.

Affordable Interest Rates

With reasonable interest rates, your dream of owning a three-wheeler becomes more budget friendly.

No Income Document Scheme

No need for any traditional income proof. Get quick funds without worrying about income documentation.

Flexible EMIs

Repay the loan as per your convenience by selecting a suitable tenure. Enjoy flexibility with personalized EMIs.

Charges on Three Wheeler Loans

Schedule of Charges	Charges (inclusive of GST)
Processing Fees	Up to 5.9%
Penal Charges (excluding GST)	36% annually on unpaid instalments
Foreclosure Charges	Remaining loan tenure is <=12 months - 3% on principal outstanding Remaining loan tenure is >12-<=24 months - 4% on principal outstanding Remaining loan tenure is >24 months - 5% on principal outstanding
Other Charges
Bounce Charges	₹500
Duplicate NDC/NOC Charges - physical copy	₹500

Note that additional charges may be involved in three wheeler loans.
For a complete list of charges, please Click Here

Eligibility Criteria for Three Wheeler Loan

Here’s all you need to know about your eligibility for a Three Wheeler Loan.

Eligibility Criteria

Nationality

Indian

Age

18 years to 65 years*

Status of Employment

Active

Employment Stability

Minimum 1 year

Document required

ID and Signature Proof

Copy of Voter’s ID/Driving Licence/Aadhaar Card/PAN Card/Passport

Address Proof

Copy of Passport/Electricity Bill

Age Proof

PAN Card

Income Proof

Copy of Income Document like Salary Slip/Form 16/ITR with Computation of Income

More documents may be required, based on Salaried/Self Employed Individuals, Proprietorship/partnership firm and Private/public limited companies.

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

ID and Signature Proof	Copy of Voter’s ID/Driving Licence/Aadhaar Card/PAN Card/Passport
Age Proof	PAN Card
Address Proof	Copy of Passport/Electricity Bill
Income Proof	Copy of Income Document like Salary Slip/Form 16/ITR with Computation of Income
Other Documents	Bank Statement

For Proprietorship and/or partnership firm

ID and Signature Proof	Copy of Voter’s ID/Driving Licence/Aadhaar Card/PAN Card/Passport
Age Proof	PAN Card
Address Proof	Copy of Passport/Electricity Bill
Income Proof	Copy of Income Document like Salary Slip/Form 16/ITR with Computation of Income
Asset Documents	Photocopy of Vehicle RC Book and Insurance Certificate
Other Documents	Bank Statement or Passbook, Partnership deed with a declaration for partnership firm

For Private and/or public limited companies

ID and Signature Proof	Copy of Voter’s ID/Driving Licence/Aadhaar Card/PAN Card/Passport
Age Proof	PAN Card
Address Proof	Copy of Passport/Electricity Bill
Income Proof	Copy of Income Document like Salary Slip/Form 16/ITR with Computation of Income
Other Documents	Bank Statement, MOA/AOA with board resolution for private/public Ltd. firm

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.

Thank You For Your Interest!