Post successfully providing the credentials, the Borrower will receive Preapproved loan programme facility activation confirmation via SMS /e-mail to his registered mobile number / e-mail id, as the case maybe.ģ.1. Once the Borrower receives an SMS / e-mail trigger from TVS Credit confirming successful enrolment to the pre-approved loan programme and sanctioning of a Credit Limit to his/her registered mobile number / e-mail id, as the case maybe, the Borrower shall login to the Saathi App/ TVS Credit Website / IVR using registered mobile number and activate the Pre-approved loan programme facility to get his Pre-approved loan entering his date of birth & OTP sent to his registered mobile number.Ģ.2.4. Upon receipt of the Welcome Letter, the Borrower can activate the pre-approved loan programme facility through TVS Credit Saathi app (“Saathi App”) (or) through TVS Credit’s website accessible at (“TVS Credit Website”) (or) by raising a request in TVS Credit’s customer care contact number.Ģ.2.3. TVS Credit will send a Welcome Letter setting out the pre-approved loan programme/ credit details and the gist of important terms and conditions applicable for usage of the credit facility through the given contact modes/detailsĢ.2.2. In the event of any suspension/ withdrawal of the credit facility due to any kind of improper repayment behavior, the Borrower agrees that TVS Credit shall not be obligated to refund any fee / enrolment fees paid by the Borrower.Ģ.2.1. TVS Credit, based on the aforesaid criteria, may accept or reject the pre-approved loan – Loan Application Form. The Borrower may opt for the pre-approved loan programme by submitting the pre-approved loan – Loan Application Form with TVS Credit. Notwithstanding the above, the entitlement to use the facility by the Borrower in the Pre-approved loan programme shall be at the sole discretion of the Company.Ģ.1.3. In order to be eligible to use the benefits of the pre-approved loan programme, the Borrower must have repaid at least 3 EMIs or as stipulated without default.Ģ.1.2.
(i) “PIN” means the Personal Identification Number allocated to the Borrower by the Bank/PPI Issuer and / or subsequently changed by the Borrower as per his choice, in relation to the facilityĢ.1.1. (h) “POS” / “EDC” means Point of Sale / Electronic Data Capturing machines used at Merchant Establishments in India, capable of processing transactions and at which, the Borrower can use his given credit limit sanctioned to him Instantly. (g) “Merchant Establishment” shall mean the Merchant network created by TVS Credit with the establishments, wherever located, which honor the pre-approved loan programme facility, may include among others, stores, shops, hotels, airlines and mail order advertisers. (f) “Welcome letter” means a letter sent by TVS Credit to the Borrower setting out the pre-approved loan programme/ credit details and the gist of important terms and conditions applicable for availing/utilizing the Credit facility. (e) “Pre-approved loan - Application Form” shall mean and include the application agreed, executed/ to be executed by the Borrower in the form and manner stipulated by the TVS Credit, from time to time. (d) “EMI/Equated Monthly Instalments” shall mean the amount payable every month by the Borrower to TVS Credit comprising of principal amount, interest and other charges, as the case maybe. All details mentioned herein shall be provided in the loan term sheet unless specifically communicated to the Borrower and as amended from time to time. (c) “Fees/Charges” means such charges as set out in these terms and conditions. and It is issued by TVS Credit to the Borrower for easy identification and usage of the Pre-approved limit with the TVS Credit partnered merchant (offline & online) networks, whether or not such Borrower has previously availed any loan facility from TVS Credit. THIS IS NOT A CREDIT CARD, OR A DEBIT CARD OR A PREPAID CARD etc. (b) “InstaCard/Card" shall mean a Physical or Virtual Card (carrying the unique identification number) issued to the Borrower in terms hereof. (a) “Pre-approved loan programme” shall mean the program offered by the Company and consented to by the Borrower, by paying the necessary fee, wherein the Borrower may be enrolled as a member subject to meeting the eligibility criteria. In this document, the following word and phrases shall have the following meanings:
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