TVS Credit Services expects spike in festival season loan disbursals

September 29, 2022 09:35 pm | Updated 09:35 pm IST - CHENNAI

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.

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