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Smart Finance: A new platform by Maruti Suzuki for facilitation of the financing process


Last Updated on 17/01/2021 by Aish K

Smart Finance: A new platform by Maruti Suzuki for facilitation of the financing process 1

Maruti Suzuki India on Thursday announced the launch of their online financing platform – Smart Finance – for Maruti Suzuki ARENA customers across 30+ cities. “With the launch of Smart Finance, now 24 out of 26 steps in the customer vehicle purchase journey have been digitised,” Maruti Suzuki said in a regulatory filing.

Smart Finance, a platform by Maruti Suzuki India which is an online financing service for customers of the Maruti Suzuki Arena spread over 30 cities. It was launched on Thursday and is a platform to facilitate the financing process between customers and the financiers economically and efficiently compared to the traditional way of handling these processes, keeping in mind the ongoing pandemic. Maruti Suzuki spoke about the same in it’s regulatory file, stating that Smart Finance has now enabled digitisation of 24 out of the total 26 steps of customer vehicle purchase.

The platform allows the engaged customers to monitor and track their loan status online in real-time, thus, ensures transparency of the loan acquiring process. The financiers who have tied up for availing these services are State Bank of India, ICICI Bank, HDFC Bank, Mahindra Finance, IndusInd Bank, Bank of Baroda, Cholamandalam Bank, Kotak Mahindra Prime, Axis Bank, Yes Bank, HDB Financial Services and AU Small Finance Bank. 

Smart Finance offers customers an ONE-STOP-SHOP solution for vehicle finance needs. The services include the option to choose among 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, with just a few clicks, ” the company said.

It further added: “Going forward, different structured schemes such as balloon and step-up offers, among others can also be reviewed on one screen.”

Maruti Suzuki is India’s first OEM to offer an online end-to-end real-time car finance service facility. We are overwhelmed with the response to our Smart Finance platform from our NEXA customers. Now, we want to extend the ease of a car buying journey for our ARENA customers as well. The pandemic situation in the country has further increased the usage of digital platforms. With Smart Finance, we aim to reach out to a larger audience, assist them and make every stage of the loan process transparent, ” – Shashank Srivastava, the Executive Director (Marketing & Sales) at Maruti Suzuki India.

The platform is available for various customers across cities including Jaipur, Delhi, NCR, Ahmedabad, Chennai, Hyderabad, Ranchi, Raipur, Cochin, Kolkata, Pune, Bhopal, Mumbai, Lucknow, Goa, Bhubaneswar, Chandigarh, Coimbatore, Surat, Trivandrum, Nagpur, Udaipur, Kanpur, Vijaywada, Dehradun, Bangalore, Indore, Guwahati, Vadodara and Ranchi.

Khushi is an avid reader and loves analyzing companies in the digital space. Her interest is in online marketing, business, startups, and politics. She does everything perfectly by taking extra time.
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