Maruti Suzuki Smart Finance disburses over Rs 6,500 car loans

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The country’s largest automaker, India Ltd, said on Monday that its online auto finance platform, Maruti Suzuki Smart Finance, had disbursed a total of over Rs 6,500 crore in auto loans at over 1 lakh of customers within nine months of launch.

Through the platform, the company introduced an end-to-end multi-financial online auto finance solution, with real-time loan tracking function for its clients with features like interest rate based on the credit score, pre-approved and personalized. loan offers generated by several financiers, online document sharing with real-time loan status monitoring.

“To cross over 1 lakh of loan disbursements, amounting to over Rs 6,500 crore, in such a short period is a significant achievement and heralds a fundamental shift towards a digital foremost customer experience,” Maruti Suzuki India Ltd (MSIL) Senior Executive Director (Marketing and Sales) Shashank Srivastava said in a statement.

Maruti Suzuki Smart Finance is another step of Maruti Suzuki to improve the car buying experience of customers with new and innovative solutions to provide ease of purchase in their buying journey, he added.

Srivastava said the digital acceleration induced by the coronavirus pandemic has paved the way for innovative and robust digital solutions like Maruti Suzuki Smart Finance.

“When we launched the Smart Finance initiative, we were driven by our vision to completely transform and deliver a car buying experience aligned with the demands of customers in the digital age,” he added. .

The platform is available to all Arena and NEXA customers and over 34 lakh customers have visited the platform since its launch. MSIL had partnered with 16 financiers, including HDFC Bank, ICICI Bank, Yes Bank, Axis Bank, State Bank of India, IndusInd Bank, Bank of Baroda and Toyota Financial Services (India) for this purpose.

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