Maruti launches online car finance platform with major banks

Maruti Suzuki has announced the launch of Smart Finance - an online financing platform for Maruti Suzuki Arena customers across 30+ cities. With the launch of this platform, 24 out of 26 steps in the customer vehicle purchase journey have now been digitised.

Services offered by Smart Finance include the option to choose from a wide range of finance products based on customer needs, selecting the best-suited loan product, completion of all finance related formalities and disbursal of loan.

The Maruti Suzuki website will act as a facilitator between the customer and the financier providing real-time status updates and in turn provide a hassle free and transparent financing solution. Through Smart Finance, consumers will be able to check the status of the loan online at each stage of the process in real-time. Going forward, different structured schemes such as balloon and step-up offers, among others can also be reviewed on one screen.

For this platform, Maruti Suzuki has currently partnered with twelve financiers: State Bank of India, HDFC Bank, Mahindra Finance, ICICI Bank, IndusInd Bank, Bank of Baroda, Cholamandalam Finance, Kotak Mahindra Prime, Axis Bank, AU Small Finance Bank, Yes Bank and HDB Financial Services. Subsequently, the company plans to expand this list.

The Smart Finance service is now available for Arena customers in 30+ cities including Delhi, NCR, Jaipur, Ahmedabad, Pune, Mumbai, Bangalore, Chennai, Hyderabad, Lucknow, Indore, Kolkata, Cochin, Chandigarh, Guwahati, Goa, Bhubaneswar, Bhopal, Coimbatore, Surat, Vadodara, Ranchi, Raipur, Nagpur, Trivandrum, Vishakhapatnam, Udaipur, Kanpur, Vijayawada and Dehradun.