Faqs
How does TFSIN Car Loan compare with those offered by other institutions?
We offer innovative products tailor-made to suit your requirements. We leverage on our Global expertise to bring unique products to suit your monthly budget at very competitive rates. We also have loyalty benefits which you can avail on your next purchase.
How much finance can I avail of?
Depending on the scheme being availed, we can offer a Loan to value of upto 100%. We have special schemes for On Road funding as well.
What are the lending rates?
Our products are priced at very competitive rates. For detailed information on the rates, you may write to us on customerfirst@tfsin.co.in , call us on 1800 309 9778 or visit your nearest authorized Toyota Dealer.
What are the tenure options?
The choice is yours. You can choose any repayment option from 12 to 84 months, all uniquely designed to suit your requirements.
Do I need a guarantor?
Generally no. But if you do not meet our credit criteria, then you may be required to have a guarantor to stand surety for your loan.
Do I have the option of pre-paying the entire loan amount?
Yes. One can pre-pay the loan any time post availing the loan. You have to pay a pre-payment charge on the outstanding loan amount. We do provide a pre-payment benefit on choosing to finance your next Toyota car with us.
Do I have to pay any additional charges?
Processing Fees, Documentation charges and the actual stamp duty charges are applicable at the time of loan processing. There are additional charges in case of Cheque return, delayed payment, prepayment of the loan, Cheque swapping and loan cancellation. (For more details do check our Fee charges link at our homepage)
What documents do I need to submit to avail a Car Loan?
Document Checklist:
| Documents | Salaried Customer | Self Employed Individuals | Proprietorship Firm | Partnership Firm | Pvt Ltd./ Ltd. Co. | HUF | Trust / Society | Unincorporated association or a body of individuals |
|---|---|---|---|---|---|---|---|---|
| Signed Application Form | ||||||||
| DOB Proof (Passport / UID / Driving License / Pan Card) | ||||||||
| Identity Proof (Voter ID / UID / Passport / Pan Card) | ||||||||
| PAN Card | ||||||||
| Address Proof (Please check detailed list mentioned at the end of this table) | ||||||||
| Own House (Electricity Bill & Property Tax Receipt) | ||||||||
| Signature Verification Proof | ||||||||
| Bank Statement (3 Months) | ||||||||
| ITR including SARAL Copy & Computation of Income (Current & Previous Year) | ||||||||
| Audited Financials (Current & Previous Year) | ||||||||
| Salary Slip / Form 16 | ||||||||
| MOA & AOA along with Incorporation Certificate | ||||||||
| Partnership Deed | ||||||||
| Service Tax / Sales Tax /Vat /GST Registration Certificate in name of Firm | ||||||||
| Firm-Registration Certificate | ||||||||
| Trust / Society Deed | ||||||||
| Legal existence of an entity/juridical person | ||||||||
| Certificate/license issued by the municipal authorities under Shop and Establishment Act | ||||||||
| Deed of declaration of HUF/ List of coparceners or CA Certified Letter stating the Karta all other Coparceners list in HUF | ||||||||
| Resolution of the managing body of such association or body of individuals. | ||||||||
| Power of attorney granted to transact on its behalf | ||||||||
| Officially valid documents in respect of the person holding an attorney to transact on its behalf | ||||||||
| Such information as may be required by the Reporting Entity (RE) to collectively establish the legal existence of such an association or body of individuals |
In case of Corporates/ Pvt Ltd / Public Ltd Companies, there are additional statutory requirements of Board Resolutions, MOA, Common Seal.
Who can be the co-applicants for the loan?
Any one of the following can be a co-applicant- father, mother, brother, sister, children, spouse, father in law, mother in law, daughter in law and son in law.
What security/collateral do I have to provide to avail a car loan?
The vehicle is hypothecated to Toyota Financial Services India Ltd and lien is marked in our favor on the Registration Certificate, Final Invoice and Insurance Policy.
How do I repay the loan?
You can repay the loan by using Electronic Clearing Service debit mandate by which your bank account gets debited for the loan repayment on a specific date in a month. These have to be submitted to the TFSIN representative dealing with you along with the loan documents after the sanction of the Loan.
How do I reach out to Toyota Financial Services for any Service request?
Kindly Contact us using any of the mode mentioned below
- Email us at customerfirst@tfsin.co.in
- Call us on our Toll-Free Number – 1800 309 9778
- Chat for Customer Self-Service:+91 89511 06903
- Chat for New Loan Enquiry: +91 407 178 1780
You can make the payment towards the foreclosure of the loan using a Funds transfer / RTGS mode from your existing bank account/ bank branch to the designated TFSIN Bank account.
How can I obtain my un-banked PDC or Security PDCs?
Your un-banked PDC or Security PDCs will be automatically returned to you within 30 days of the closure of your loan. In case you do not receive the same, please contact us at any of our contact points and we will get back to you with the details.
Can my spouse's income be included for calculating the loan amount?
Yes, if the spouse is taken as the co-applicant, then the income can be included for calculating the loan amount.
How can I pay my Cheque bounce charges / other overdue charges?
You can make the payment towards the foreclosure of the loan using a Funds transfer / RTGS mode from your existing bank account/ bank branch to the designated TFSIN Bank account. The details you need to fill in the RTGS/NEFT form are:
- Beneficiary Name/Payee name - Toyota Financial Services India Limited
- Beneficiary Nickname - TFSIN
- Account No – (1492) + your 11 digit TFSIN Loan Account Number For e.g. If your TFSIN Loan Account Number is NDEL1234567, then your Account Number becomes 1492 + NDEL1234567 = 1492NDEL1234567
- IFSC Code – HSBC0560002
- Bank Name – The Hong Kong and Shanghai Banking Corporation Ltd.
- Account Type- Current Account.
What happens after I have paid the last EMI?
After the last payment is made, you can get the lien of TFSIN removed on your car. You will be issued a loan closure letter by us along with Form 35 and NOC to the RTO for removing the lien from the RC book. A similar NOC will also be issued to the insurance company requesting for the removal of our lien from the policy.