TVS Credit Services Ltd., a non-banking financing company, is expecting a spike in loan disbursals in the upcoming festival season due to upbeat in consumer sentiment.
The NBFC has been offering loans for purchase of two-wheelers, consumer durables, mobile phones, used cars and commercial vehicles, tractors, and business as well as personal loans.
During FY22, assets under management rose to ₹13,911 crore from ₹11,200 crore in the corresponding year-earlier period, while total income grew to ₹2,731 crore from ₹2,241 crore, the company said.
This year, the company’s Diwali offer for two-wheeler loans comprises instant approvals of up to 95% funding and up to 60 months of loan tenure with assured discount vouchers worth ₹15,000 along with eligibility for a personal loan.
The company is also offering a 10% cashback on the purchase of consumer durable products. The loan is processed based on Aadhaar and comes with zero down payment.
