Introducing the InstaCard.Instant loans for instant needs.
You can now use your InstaCard to avail pre-approved loans* up to Rs. 1 lakh across online and offline channels covering categories such as lifestyle, home improvement, education, health, travel, furniture,appliances etc.
Simply step into a store like Big Bazaar, Shoppers Stop, Max Fashion or visit an e-commerce partner site such as Amazon or Flipkart and start purchasing with InstaCard.
Use this card at stores which cover categories such as lifestyle, home improvement, education, health, travel, furniture, appliances etc.
Plan your EMIs according to your convenience. Divide your purchase into easy EMIs of 3, 6, 12, 18 or 24 months.
Set purchase limit via the Saathi app/ TVS Credit Website/Toll Free Number(1800 102 2468) and swipe your card to get instant EMI conversion.
Visit any merchant outlet that is empanelled with TVS Credit and share your mobile number to avail zero cost EMI*.
Enjoy access to online shopping with InstaCard by entering the OTP shared on your registered mobile number at the time of the transaction.
Enjoy zero processing fee on every transaction.
Sofa, Bed, Tables, Wardrobes, Mattress, etc.
Apparels, Modular kitchen, Interior décor, Accessories, etc.
Air cooler, Water purifier, Grinder, and much more.
Flipkart, Amazon, Makemytrip, etc.
Building materials, Hardware, Paints, Electricals, etc.
Accessories, Repairs and Services.
Instacard interest charges-2%* per month (i.e) 24%* per annum.
You can activate your card by any of the following three modes of activation: TVS Credit Saathi app/TVS Credit Website/Toll free Number. Card activation is subjected to proper repayment of the existing loan*
You can use your InstaCard for a minimum transaction of Rs.5000 at any of the select merchant establishments across India.
All transactions are converted into a loan with EMI options having a monthly interest rate of 2%*. Please refer to the grid below to understand the repayment tenure options.
|Amount ( ₹ )||3 Months||6 Months||9 Months||12 Months||18 Months||24 Months|
|5,000 to 10,000|
|10,001 to 20,000|
|20,001 to 40,000|
|40,001 to 50,000|
You can avail a maximum of three parallel loans within the approved limit using your InstaCard subject to terms and conditions communicated from time to time.
You can swipe the card for a minimum transaction amount of Rs.5000 and a maximum transaction amount of Rs.50000 in a single transaction.
Before you can use your card, you need to set the purchase limit through Saathi App/Website/Toll free number using the below steps:
No, your InstaCard can’t be used for purchases outside India. It is also not valid for payments in foreign exchange in Nepal and Bhutan. It is valid for use only in India and for payments made in Indian Rupees.
Yes, you can use your InstaCard for online purchases on e-commerce websites.
You can check your InstaCard balance on the TVS Credit Saathi App or by speaking to our customer care executive on 1800 102 2468. Moreover, you will also receive an SMS of the available balance to your registered mobile number post any purchase.
Call us at 1800 102 2468 from your registered mobile number and raise a card block request, so that the card can be blocked. You can then apply for a replacement card. Please note that the cardholder will be responsible for any usage of the card till the time it is blocked.
The physical InstaCard will be dispatched to your registered address within 28 working days of activation of your virtual InstaCard.
No. You will be charged interest only after performing the transaction on your InstaCard.
Your monthly EMI will be debited from the same bank account registered with us for your previous loan.
You can access your virtual InstaCard by logging in to the TVS Credit Saathi app. The virtual InstaCard link on the app will give you all card related details such as the card number, validity and CVV number. Using your virtual InstaCard you can make online purchases and payments across various categories such as retail, healthcare, groceries etc.
In connection with the loan availed by the borrower (“Borrower”) under the loan agreement (“Master Loan Agreement”), the Borrower has opted to enroll in the InstaCard programme (defined below) offered by TVS Credit Services Limited (“TVS Credit/Company”), wherein the Borrower, subject to fulfilling the eligibility criteria, will be eligible for a credit limit sanction on InstaCard from a Bank/Prepaid Instrument Issuer (“PPI Issuer”) to avail the aforesaid credit facility.
The terms and conditions (“Terms and Conditions”) mentioned herein are applicable to the enrolment to the InstaCard programme by the Borrower. These Terms and Conditions read with the terms of the Master Loan Agreement constitute the entire agreement between TVS Credit and the Borrower, as amended from time to time.
By completing the sign-up process for enrolment under the InstaCard programme, the Borrower is deemed to have expressly read, understood, accepted and be bound by the Terms and Conditions set out herein. TVS Credit reserves the right to change, at any time,these terms and conditions, features and benefits offered under the InstaCard programme including, without limitation to, changes which affect existing balances, methods of calculation. The eligible Borrower agrees that he shall be liable for all charges and other obligations under the revised terms.
1.1. In this document, the following word and phrases shall have the following meanings:
(a)“InstaCard programme” shall mean the programme 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
(b)“InstaCard” shall mean a pre-paid(RuPay/Visa)/any other card issued to Borrower by the PPI Issuer.
(c)“Charges” means such charges as set out in these terms and conditions. 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.
(d)“Charge Slip” means the voucher printed after using InstaCard in a swipe to pay for any transactions performed using the card. It indicates the details of the transaction such as the amount, time of the transaction, date, location etc.
(e“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.
(f)“InstaCard - 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.
(g)“Merchant Establishment” shall mean establishments, wherever located, which honour the InstaCard and may include among others, stores, shops, hotels, airlines and mail order advertisers, which may be permitted by TVS Credit at its sole discretion from time to time.
(h)“POS”/“EDC” means Point of Sale/Electronic Data Capturing machines used at Merchant Establishments in India, capable of processing card transactions and at which, the Borrower can use his Card to utilise the credit limit sanctioned to him.
(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 Card.
(j)“Welcome letter” means a letter sent by TVS Credit to the Borrower setting out the InstaCard programme/credit details and the gist of important terms and conditions applicable for the InstaCard.
2.1.1. In order to be eligible to avail the benefits of the InstaCard programme, the Borrower must have repaid atleast 6 EMIs or as stipulated, without default.
2.1.2. Notwithstanding the above, the enrolment of the Borrower to the InstaCard programme shall be at the sole discretion of the Company.
2.1.3. The Borrower may opt for the InstaCard programme by submitting the InstaCard – Loan Application Form with TVS Credit. TVS Credit, based on the aforesaid criteria, may accept or reject the InstaCard – Loan Application Form. In the event of any rejection of the application, the Borrower agrees that TVS Credit shall not be obligated to refund any fee/enrolment fees paid by the Borrower.2.2. Enrolment:
2.2.1. TVS Credit will send a Welcome Letter setting out the Instacard Programme/credit details and the gist of important terms and conditions applicable for usage of the InstaCard issued by the Bank/PPI Issuer.
2.2.2. Upon receipt of the Welcome Letter,the Borrower can enroll to the InstaCard programme through TVS Credit Saathi app or through TVS Credit’s website accessible at www.tvscredit.com or by raising a request in TVS Credit’s customer care contact number as mentioned on the reverse side of the InstaCard.
2.2.3. Once the Borrower receives an SMS/e-mail trigger from TVS Credit confirming successful enrolment to the InstaCard programme to his/her registered mobile number/e-mail id, as the case maybe, the Borrower shall login to the Saathi App/TVS Credit Website or call the IVR using his/her registered mobile number to get his/her InstaCard activated by entering the last four digits of the InstaCard and date of birth of the Borrower.
2.2.4. Post successfully providing the credentials,the Borrower will receive the InstaCard activation confirmation via SMS/e-mail to his registered mobile number/e-mail id, as the case maybe.
3.1. The Borrower agrees that any facility/transaction under this InstaCard programme shall be considered as a separate loan facility and the terms and conditions of the Master Loan Agreement executed/to be executed by the Borrower will be binding and applicable.
3.2. The eligibility limit, benefits, offers/other services offered under the InstaCard programme shall be at the sole discretion of TVS Credit.
3.3. The Borrower shall avail separate facility from TVS Credit (which shall be subject to the terms of the Master Loan Agreement), before making any transactions under the InstaCard programme.
3.4. InstaCard will be valid for a period as mentioned in the card and valid in India only. The InstaCard usage at any ATM for cash withdrawal is applicable only for the eligible Borrowers as per the Welcome Letter or through separate communication from TVS Credit and valid for use at RuPay/VISA based physical Merchant Establishments only, by duly authenticating the PIN.
3.5. The membership to the InstaCard programme shall be non-transferable and non-assignable at the time of issuance. The InstaCard issued is valid for use only in India and for the purchase of goods or services in Indian currency only. TVS Credit/Bank/PPI Issuer reserves its absolute discretion to restrict the InstaCard usage at certain merchant locations/establishments/category either permanently or as may be communicated from time to time.
3.6. The Borrower undertakes to act in good faith at all times in relation to all dealings with the InstaCard and TVS Credit.
3.7. The Borrower agrees that the loan facility under the InstaCard programme is not intended to be used for purchase of prohibited items under the applicable laws of India like lottery tickets, banned or proscribed magazines, participation in sweepstakes, payment for call-back services, etc., or transactions dominated in foreign currency.
3.8. TVS Credit/Bank/ PPI Issuer reserves its absolute discretion and liberty to honour or decline the authorisation requests, without assigning any reasons. TVS Credit may, at its sole discretion, utilise the services of external service provider(s) or agent(s) and on such terms as required or necessary, in relation to the Cards.
3.9. TVS Credit shall not be responsible for any failures or errors or malfunctioning of POS or system or terminal during operations or electronic data capture.
3.10. The issue and use of the InstaCard shall be subject to the guidelines or notifications as may be issued by Reserve Bank of India and other regulators/statutory authority, from time to time.
3.11. In the event of any breach of these terms and conditions by the Borrower, he/she shall be liable for any loss, directly or indirectly, resulting from such a breach; and liable to pay TVS Credit, upon demand. The default if any committed by the Borrower in respect of his/her credit facilities availed from TVS Credit will also constitute breach.
3.12. In the event of any disagreement or dispute between TVS Credit and the Borrower regarding the materiality of any matter including any event, occurrence, circumstance, change, fact, information, document, authorisation, proceeding, act, omission, claims, breach, default or otherwise including use or misuse of the InstaCard, the opinion of TVS Credit as to the materiality of any of the foregoing shall be final and binding on the Borrower. The Borrower shall be bound by these Terms & Conditions and policies stipulated by TVS Credit, from time to time, in this regard.
3.13. For details of Charges, refer the loan term sheet which will be provided by TVS Credit for each transaction made by the Borrower. These charges are subject to changes at the sole discretion of TVS Credit. However, such changes in charges may be made only with prospective effect giving prior notice of thirty (30) days to the Borrower.
3.14. The Borrower shall contact TVS Credit/Bank/the PPI issuer of the Card in the event the InstaCard is lost, stolen, misused, or for replacement, PIN re-issue, hot-listing or any such disputes and the terms and conditions given by the PPI issuer shall be applicable.
3.15. TVS Credit/PPI Issuer shall not be responsible and liable for unauthorised payment transaction(s) where the loss is due to negligence by the customer, such as where he/she has shared the payment credentials including the PIN/OTP. The customer will bear the entire loss until he/she reports such transaction(s) to TVS Credit/PPI Issuer.
3.16. TVS Credit/PPI Issuer shall not be responsible for unauthorised payment transaction(s) if the customer reports such transaction(s) beyond 7 days to the TVS Credit/ PPI Issuer.
4.1. Without prejudice to the foregoing, TVS Credit shall be under no liability, whatsoever, to the Borrower, in respect of any loss or damage arising, directly or indirectly, out of:
4.1.1. Any defect in any goods or services supplied, including delay in delivery or non-delivery, deficiency in services between the Merchant Establishment and Borrower and/or any third party.
4.1.2. Any mis-statement, mis-representation, error or omission in any details disclosed to TVS Credit. In the event of a demand or a claim for settlement of outstanding dues from the Borrower is made, either by TVS Credit or any person acting on behalf of TVS Credit,the Borrower agrees and acknowledges that such demand or claim shall not amount to be an act of defamation or an act prejudicial to or reflecting upon the character of the Borrower, in any manner.
4.1.3. The Borrower expressly accepts that if he/she fails to pay monies on due date,or which may be declared due prior to the date when it would otherwise have become due, or commits any default under the present terms, under which the Borrower is enjoying financial/corporate/other facility, then, TVS Credit shall, at its sole discretion, without prejudice, exercise all or any of its rights as set out in these terms and conditions. Any notice concerning payments given by TVS Credit hereunder will be deemed to have been received by the Borrower within seven (7) days of mailing to the Borrower’s mailing address last notified in writing to TVS Credit. Any notice may also be sent by fax or communicated verbally and confirmed in writing by post or fax. TVS Credit shall not be held accountable for delays in receipt of notices.
5.1. Any Charge Slip, or other payment requisition, received by TVS Credit/Bank/the PPI for payment shall be conclusive proof that the Charge recorded on such a Charge Slip or other requisition, was properly incurred by the Borrower, unless the InstaCard is lost, stolen or fraudulently misused, then the burden of proof shall lie on the Borrower. The other payment requisition referred to in this Clause shall include any and all payments pertaining to permissible expenses incurred by a Borrower at a Merchant Establishment by use of the Card which is not recorded as a Charge. Signature of the Borrower on such Charge Slips or PIN based authentication together with the Card number noted thereon shall be conclusive evidence of the liability incurred by the Borrower.
5.2. Any disputed transaction made using the InstaCard shall be raised by the Borrowers with the Customer Care Center within thirty (30) days from the date of the transaction. Any dispute raised by the Borrowers after thirty (30) days from the date of the transaction shall not be entertained by TVS Credit/Bank/PPI Issuer and the TVS Credit/Bank/PPI Issuer shall not be liable for the same in any manner whatsoever.
5.3. All disputes in relation to this, are subject to the exclusive jurisdiction of the competent Courts in Chennai only and the laws applicable shall be Indian laws.
6.1. The Borrower acknowledges and consents that the information under the InstaCard programme may be exchanged amongst other banks and financial entities that provide corporate facilities. The acceptance of an application for the InstaCard programme is based on no adverse reports of the individual’s credit worthiness.
6.2. TVS Credit/Bank/PPI Issuer may report to other banks or financial entities of any delinquencies in usage of the InstaCard, and/or withdrawal of the Borrower’s facility to use the InstaCard. Based on the receipt of adverse reports (relating to the credit worthiness of the Borrower or his/her family members), TVS Credit may, after 15 days’ prior notice in writing, cancel the InstaCard, where upon the entire outstanding balance on the InstaCard as well as any further Charges incurred upon usage of the Insta Card, though not yet booked as loan to the Borrower, shall be immediately payable by the Borrower. The Borrower shall in no event dispute regarding the aforesaid terms.
6.3. TVS Credit will not send any monthly statement pertaining to any transactions made by the Borrower(s) under the InstaCard programme. The Borrower also confirms that all the details given in the InstaCard - Loan Application Form shall be true, correct and accurate and if there are any changes in the given details, he/ she will inform TVS Credit within a reasonable time period. TVS Credit disclaims all liability in case of incorrect details resulting in any loss or liability for the Borrower.
7.1. TVS Credit in its sole discretion may terminate the enrolment of the Borrower from the InstaCard programme:
7.1.1. In the event the Borrower is declared insolvent or upon the death of the Borrower;
7.1.2. In the event of the Borrower committing breach of any of the Terms and Conditions;
7.1.3. In the event of any restriction imposed on the Borrower by an order of a competent Court or Order issued by any regulatory or statutory authority in India or any investigating agency;
7.1.4. In the event the InstaCard programme becomes illegal under the applicable laws, rules, guidelines or circular; or
7.1.5. In the event the InstaCard programme is terminated.
7.2. The terms and conditions concerning the consequences of termination of the Master Loan Agreement shall apply mutatis mutandis to the consequences of termination under the InstaCard programme.
8.1. InstaCard programme shall be subject to the terms and conditions mentioned herein and any additional conditions stipulated by TVS Credit/Issuer, from time to time.
8.2. The Borrower shall be responsible for reviewing these terms and conditions, including amendments thereto and shall be deemed to have accepted the amended terms and conditions by continuing to use the InstaCard.
8.3. The Borrower hereby agrees to all the terms and conditions in the loan application form in the form and manner stipulated by the TVS Credit, from time to time.