Money & Banking

Maruti Suzuki launches Smart Finance service for one-stop loan solutions

Our Bureau. New Delhi | Updated on December 09, 2020

Maruti Suzuki India (MSIL), on Wednesday, has launched Smart Finance service for Nexa customers across 30 citiesfor seamless and faster solutions for customers.

The Maruti Suzuki Smart Finance will offer comprehensive finance solutions online and aim to simplify and digitalise the customer’s car buying journey with a bouquet of financing options, the company said.

The services include choosing the right finance partner, selecting the best suited loan product, completion of all finance-related formalities, and disbursal of the loan with just a few clicks.

A hassle-free solution

The Nexa website will act as a facilitator between the customer and financier, providing a wide variety of choices on the loan offers, real-time status updates and, in turn, a hassle-free and transparent financing solution.

The company has currently partnered with eight financiers – HDFC Bank, YES Bank, ICCI Bank, IndusInd Bank, Cholamandalam Finance, AU Small Finance Bank, Mahindra Finance and Kotak Mahindra Prime – and will, subsequently,on-board other key financiers. By March-end, the company will tie-up with 17 more banks, it said.

The improved transparency around the loan offers and related charges empower the customer to make a good decision in a very convenient manner, it said.

“This digital service offers easy financing options and is completely transparent at each stage of the loan process. Among other advantages, the customer gets to customise the EMI by choosing the loan tenure and interest rate and select a preferred down-payment scheme,” said Kenichi Ayukawa, Managing Director and Chief Executive Officer, MSIL.

The customer is able to compare multiple scenarios for his car loan and make an informed choice of loan partner, loan tenure, he said.

The pilot for Smart Finance was carried out in Gurugram and the feedback was gathered from customers , the company said.

The service is now available in 30 cities, including Delhi, Gurugram, Lucknow, Jaipur, Mumbai, Pune, Ahmedabad, Chennai, Bangalore, Hyderabad, Indore, and Kolkata, for salaried employees who wish to buy Nexa.

Progressively, the service will be offered to Arena customers, self-employed, and will be extended to new cities, the company added.

Published on December 09, 2020

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