Maruti Suzuki launches online car financing platform Smart Finance; details here

Maruti Suzuki has launched a new platform, Maruti Suzuki Smart Finance, for its ARENA and NEXA customers. Under the initiative, the digital platform will provide customers end-to-end online car financing solutions.

The company has tied up with 14 financiers who'll provide competitive interest rates. The 14 financiers on-board include 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 & HDB Financial services.

Also read: Maruti Suzuki, Tata Motors, Toyota, others witness sales recovery in June

Maruti said it is the first automobile company to introduce a multi-financier, end-to-end online car financing solution with real-time loan status tracking. Maruti Suzuki Smart Finance was earlier rolled out in limited cities in December 2020 and has seen over 25 lakh customer visits.

The digital platform is a one-stop online finance portal that allows customers to choose the right finance partner, select the right loan product, complete all finance-related formalities and get the loan online.

Maruti Suzuki Smart Finance has also integrated the feature for exchange of old cars, thereby allowing customers to get an estimated value of their existing cars in case of a replacement purchase.

The platform also offers the option of co-applicant financing. "Maruti Suzuki Smart Finance - India's first ground-breaking digital platform enables customers with an end-to-end online car financing solution," the company said.

Also read: Maruti Suzuki sales recover to 1.47 lakh units in June