Maruti Suzuki Smart Finance disburses INR 6,500 crore auto loans Auto News, ET Auto
New Delhi: Maruti Suzuki India Limited (MSIL) said on Monday that its online car finance platform Maruti Suzuki Smart Finance had disbursed cumulative car loans of INR 6,500 crore to more than 1 million customers within 9 months of its launch.
Through the initiative, Maruti Suzuki has digitized 24 out of 26 touchpoints in a customer’s car buying journey, he said.
Shashank Srivastava, Senior Executive Director (Marketing & Sales), MSIL, said, “The recent pandemic-induced digital acceleration has paved the way for innovative and robust digital solutions like Maruti Suzuki Smart Finance. When we launched the Smart Finance initiative, we were guided by our vision to completely transform and curate a car buying experience aligned with the demands of digital age customers.
he recent pandemic-induced digital acceleration has paved the way for innovative and robust digital solutions like Maruti Suzuki Smart Finance. When we launched the Smart Finance initiative, we were guided by our vision to completely transform and organize a car buying experience aligned with the demands of digital age customers.Shashank Srivastava, Senior Executive Director (Marketing and Sales), MSIL
Maruti Suzuki Smart Finance as a concept is a real disruptor in the market and it is encouraging to see it widely accepted by customers. Getting through over a lakh of loan disbursements, amounting to over INR 6,500 crore, in such a short period of time is a significant achievement and heralds a fundamental shift towards a digital-first customer experience,” he said. declared.
The platform offers interest rates based on credit rating, pre-approved and custom-generated loan offers from multiple financiers, online document sharing with real-time loan status tracking . It also has a built-in car trade-in route and a co-applicant finance option. The whole process is completely transparent, with no hidden charges or associated fees, MSIL said.
The platform is available for all Arena and NEXA customers and the company has 16 financiers including 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)
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