Chennai-based non-banking finance company TVS Credit, part of the TVS group, expects to clock growth in loan disbursals in the ongoing festive season, reversing the trend over the last two years of subdued consumer demand due to the pandemic. To cash in on the festive demand, the company has rolled out lucrative offers, schemes, rewards and gifts for the loan seekers.
TVS Credit is seeing strong momentum for its loan offerings as the country heads into the festive season. It has loan offerings for a two-wheeler, consumer durable, mobile, used car & commercial vehicle, tractor, business and personal.
Ashish Sapra, CEO of TVS Credit, said: “Our demand outlook is promising as we are looking at building on our channel partner relationships and giving customers a better value for money through our innovative loan offerings that address their needs and aspirations. Consumer sentiment is likely to be upbeat around this season, which will propel a spike in loan disbursement.”
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TVS Credit feels that over the last two years, there has been subdued consumer demand due to the pandemic and the role of a retail financer is important to help consumers when they are willing to go for the purchase. Accordingly, the company has rolled out lucrative offers, schemes, rewards, and exciting gifts to coincide with India’s biggest festivals like Dusshera, Dhanteras and Diwali. With these offers being available at over 30,000 touch points, it expects a wider reach for its easy EMI financing options that help customers meet their aspirations.
This year, the company’s Diwali offer for two-wheeler loans promises instant approvals of up to 95% funding and up to 60 months of loan tenure with assured discount vouchers worth Rs 15,000 along with the eligibility for a personal loan.
The company is also offering a 10% cashback on the purchase of consumer durable products. An Aadhaar-based loan approval process, zero down payment and no-cost EMI make it an easy financing option for customers. Additionally, its existing customers with InstaCard will get discount vouchers of up to Rs 10,000 for transactions made during this period.
The company will also launch the fifth season of its flagship consumer promotion, the Magical Diwali campaign. This integrated marketing campaign will engage customers through digital channels and points of sale by offering exciting rewards to them during the festive period.