Maruti Suzuki Introduces Smart Finance for its Customers

Published On: 12 July 2021
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Maruti Suzuki Smart Finance is a one-stop online finance portal available for both Nexa and Arena customers.

Maruti Suzuki India Limited has introduced a new online service for all its customers in the country. All the customers can now easily finance their vehicles online from anywhere with Maruti Suzuki Smart Finance.

Talking about the Maruti Suzuki Smart Finance, it is a digital platform that empowers customers to transform their vehicle purchasing experience with a host of options. These options further include choosing the right finance partner, completing all the finance-related formalities, selecting the best-suited loan product, and disbursal of the loan, online. This one-stop online finance portal can be accessed from anywhere and at any time. It is available for both Arena and Nexa customers. Besides this, it is available in Pan India. This service is going to create a wide range of profiles in order to meet the demands of a diverse range of customers.

“Even before walking into a car dealership, most potential buyers already start their shopping process online -- browsing cars and finance options. Keeping in view the changing customer behavior, we have launched Maruti Suzuki Smart Finance - India's first ground-breaking digital platform that enables customers with an end-to-end online car financing solution. To enhance the consumer experience, we have included several industry-first features in the platform. We had done a pilot project in limited cities last year. The response from customers has been encouraging. More than 25 lakh customers have visited Maruti Suzuki Smart Finance platform since its inception. Over 1,60,000 customers configured on-road prices and more than 40,000 customers have downloaded the finance sanction letter online. This gave us the confidence to launch it pan India with 14 partner financiers offering personalized financing options for our customers,” as commented by Shashank Srivastava, Senior Executive Director (Marketing & Sales), Maruti Suzuki India.

With an aim to make online car financing more comprehensive, Maruti Suzuki Smart Finance has an integrated exchange customer journey. This will further empower the customers to get an estimated value of their old cars in case of a replacement purchase. Apart from this, the platform also offers the option of co-applicant financing, covering a wide spectrum of customer profiles. At present, Maruti Suzuki Smart Finance has a total of 14 financiers on board - HDFC Bank, Yes Bank, IndusInd Bank, State Bank of India, ICICI Bank, Axis Bank, Bank of Baroda, Karur Vyasa Bank, Cholamandalam Finance, AU Small Finance Bank, Mahindra Finance, Kotak Mahindra Prime, Sundaram Finance & HDB Financial services. The company is further planning to add more financiers and structured finance products in the future.