- The platform has disbursed cumulative Rs 6,500 crore auto loans to over one lakh customers within nine months of its launch
- Available for Nexa and Arena customers
Maruti Suzuki Smart Finance, the online car financing solution has received a strong response in the Indian market. The finance platform has disbursed a cumulative of Rs 6,500 crore auto loans to over one lakh customers across the country. Interestingly, the Maruti Suzuki Smart finance has achieved this impressive feat in just nine months of its introduction. Under the initiative the company has digitised 24 out of 26 touchpoints in a customer’s car purchase journey. This online car finance option is available for both Arena and Nexa customers in the country.
Maruti Suzuki Smart Finance offered multi financier, end-to-end, unique, online car financing solutions, with a real-time loan tracking facility for its customers. The platform offers several industry-first features such as credit score-based interest rates, pre-approved and custom generated loan offers from multiple financiers, and online documents sharing with real-time loan status tracking. Moreover, the finance scheme also provides an option for co-applicant financing and the entire process is transparent with no hidden fees or associated charges.
Commenting on the occasion, Shashank Srivastava, Senior Executive Director (Marketing and Sales), Maruti Suzuki India Limited, said, “The recent pandemic induced digital acceleration has paved way for innovative and robust digital solutions like Maruti Suzuki Smart Finance. When we began the Smart Finance initiative, we were driven by our vision of completely transforming and curating a car-buying experience that is aligned to the demands of digital-age customers.”
Currently, the company has partnered with 16 financiers, which include HDFC Bank, ICICI Bank, Yes Bank, Axis Bank, State Bank of India, IndusInd Bank, Bank of Baroda, Cholamandalam Finance, AU Small Finance Bank, Mahindra Finance, Kotak Mahindra Prime, Sundaram Finance, HDB Financial services, Karur Vyasa Bank, Federal Bank and Toyota Financial Services (India).
