Maruti Suzuki Smart Finance disburses auto loans of INR 6,500 crore, Auto News, ET Auto
New Delhi: Maruti Suzuki India Limited (MSIL) said on Monday that its online car finance platform Maruti Suzuki Smart Finance disbursed cumulative auto loans of INR 6,500 crore to more than a lakh of customers within 9 months of its launch. .
Through this initiative, Maruti Suzuki digitized 24 of the 26 touchpoints in a customer’s car buying journey, he said.
Shashank Srivastava, Senior Executive Director (Marketing and 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 driven by our vision to completely transform and manage the car buying experience that is aligned with the demands of customers in the digital age.
he recent digital acceleration induced by the 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 organize the car buying experience according to the demands of customers in the digital age.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 that it is widely accepted by customers. Going through over a lakh of loan disbursements, amounting to over INR 6,500 crore, in such a short period is a significant achievement and heralds a fundamental shift towards a digitally driven customer experience, ”he said. he declares.
The platform offers interest rates based on credit score, pre-approved and tailor-made loan offers by multiple financiers, online document sharing with real-time loan status monitoring. It also has an integrated car swap route and a co-applicant financing option. The whole process is completely transparent with no hidden fees or associated fees, MSIL said.
The platform is available to all Arena and NEXA customers and the company has 16 financiers on board, 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)