Maruti Suzuki launches online service Smart Finance, Auto News, ET Auto



New Delhi: The country’s largest automaker, Maruti Suzuki India Limited (MSIL), on Friday launched the Smart Finance online service for its customers Arena and Nexa to provide end-to-end auto finance solutions. The service will be available in India.

According to the automaker, Maruti Suzuki Smart Finance offers a plethora of options, including choosing the right financial partner, selecting the most suitable loan product, completing all financing formalities, and disbursing the loan.

Shashank Srivastava, Senior Executive Director (Marketing and Sales), MSIL said: “Before even entering a car dealership, most potential buyers already begin their buying process online, browsing through cars and options. funding. In light of changing customer behavior, we launched Maruti Suzuki Smart Finance – India’s first revolutionary digital platform that enables customers to benefit from an end-to-end online auto finance solution. To improve the consumer experience, we have included several industry-first features in the platform. ”

“We did a pilot project in limited cities last year. The response from customers has been encouraging. Over 25 lakh customers have visited the Maruti Suzuki Smart Finance platform since its inception. Over 160,000 customers have configured the on-road pricing and over 40,000 customers have downloaded the financial sanction letter online. This gave us the confidence to launch it in India with 14 financial partners offering personalized financing options to our clients, ”he added.

“To make online car financing more comprehensive, Maruti Suzuki Smart Finance offers an integrated customer exchange journey. This will allow customers to get an estimated value for their old cars when purchasing a replacement, ”the company said in a statement.

Deployed in limited cities in December 2020, the service currently has 14 financiers on board, including HDFC Bank, ICICI Bank, Yes Bank, Axis Bank, State Bank of India, IndusInd Bank, Bank of Baroda, Karur Vyasa Bank, Cholamandalam Finance, AU Small Finance Bank, Mahindra Finance, Kotak Mahindra Prime, Sundaram Finance and HDB Financial Services.

“The company plans to add more financial and structured finance products, as part of future enhancements, to deliver an unprecedented auto finance experience to customers,” said MSIL.

As part of the partnership, Tata Motors will offer a ‘Step Up’ program where customers will be able to choose and buy from its range of passenger cars in the country, with a special low EMI options program for the first 3-6 months. .


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