SBI, HDFC Bank, ICICI Bank, Axis Bank to Yes Bank, Maruti Suzuki car finance facility launched; bring home your dream car easily now

India’s largest car manufacturer, Maruti Suzuki India on Friday as announced the launch of Smart Finance, a one-stop-shop solution for the vehicle finance needs, said the company in a statement. This has been announced for Maruti Suzuki ARENA customers across 30+ cities.  

With the launch of Smart Finance, now 24 out of 26 steps in the customer vehicle purchase journey have been digitised. Maruti Suzuki website will act as a facilitator between the customer and the financier providing real time status updates and in turn provide a hassle free and transparent financing solution.

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“Maruti Suzuki is India’s first OEM to offer an online end-to-end real time car finance service facility. We are overwhelmed with the response to our Smart Finance platform from our NEXA customers. Now, we want to extend the ease of a car buying journey for our ARENA customers as well. The pandemic situation in the country has further increased the usage of digital platforms. With Smart Finance, we aim to reach out to a larger audience, assist them and make every stage of the loan process transparent,” said Shashank Srivastava, Executive Director (Marketing & Sales), Maruti Suzuki India.  

The services include option to choose among wide range of finance products based on customer needs, selecting the best-suited loan product, completion of all finance related formalities and disbursal of loan, with just a few clicks.

Going forward, different structured schemes such as balloon and step-up offers, among others can also be reviewed on one screen. Smart Finance also offers transparency in loan tracking, consumers will be able to check the status of the loan online at each stage of the process in real-time.  

For this, Maruti Suzuki has currently partnered with twelve financiers: State Bank of India (SBI), HDFC Bank, Mahindra Finance, ICICI Bank, IndusInd Bank, Bank of Baroda, Cholamandalam Finance, Kotak Mahindra Prime, Axis Bank, AU Small Finance Bank, Yes Bank and HDB Financial Services. Subsequently, the Company will on-board other key financiers