Maruti Suzuki brings ‘Xpress Car Loans’ feature on their Smart Finance platform in partnership with HDFC Bank
Chennai: Maruti Suzuki India Limited had launched India’s first online end-to-end car financing platform – Maruti Suzuki Smart Finance in 2020 with integrated finance offering in the sales journey, aimed at providing an easy and convenient car financing solution to the prospective car buyers. The platform empowers customers by letting them check and compare offers from multiple finance partners, customize and choose best offers with transparency and apply loan digitally from anywhere, thus enhancing customer experience.
Maruti Suzuki now brings an instant loan feature – HDFC Bank ‘Xpress Car Loans’ on Maruti Suzuki Smart Finance platform to meet the evolving need of digital savvy customers. Further facilitating seamless car financing solutions, the introduction of the HDFC Bank ‘Xpress Car Loans’ feature will make the car buying experience even more convenient for prospective Maruti Suzuki customers.
Fortifying their partnership, the introduction of this exciting feature will enable loan disbursal to eligible customers from their choice of available financiers within 30 minutes, allowing them to get their new Maruti Suzuki car financed from the comfort of their homes, without any hassle. This end-to-end digital car financing journey is completely paperless, with all the verifications required for the loan (E-KYC, Video KYC and Address Verification) carried out digitally on a real-time basis.
The roll-out of the HDFC Bank ‘Xpress Car Loans’ feature was announced in the presence of Mr. Shashank Srivastava, Senior Executive Officer, Marketing & Sales, Maruti Suzuki India Limited, and Mr. Arvind Kapil, Country Head, Retail Asset, HDFC Bank, along with other senior officials.
Rolling out the customer-centric feature, Mr. Shashank Srivastava, Senior Executive Officer, Marketing & Sales, Maruti Suzuki India Limited, said, “Enhancing the end-to-end car financing journey for our customers, we are proud to announce the launch of HDFC Bank ‘Xpress Car Loans’ feature on our Smart Finance platform. Since the inception of the platform in 2020, Maruti Suzuki Smart Finance has disbursed loans to over 1 million customers. And with the roll-out of this customer friendly feature, we will now be able to facilitate loan disbursal in under 30 minutes for our potential customers as per their eligibility. It is our firm belief that this feature on our platform in partnership with HDFC Bank, will allow us to cater to customers in owning a car of their choice in the most seamless manner.”
Commenting on the partnership, Mr. Arvind Kapil, Country Head, Retail Assets, HDFC Bank, said, “Since the beginning of our partnership with Maruti Suzuki, our journey has been fruitful, and we have constantly discovered new ways to enhance customer financing experiences. Being the No. 1 OEM and No. 1 Automobile financiers, we firmly believe Indian consumers must enjoy world class car buying experience enabled by a smooth finance process. The roll-out of the HDFC Bank ‘Xpress Car Loans’ feature on Maruti Suzuki’s Smart Finance platform, will further help create a faster, convenient, and unified digital journey for car buyers. Xpress Car Loans is industry’s first end-to-end digital car loan platform. Since inception 75000+ customer have benefited without having a need to submit any paper for their car loan needs.”
About Maruti Suzuki Smart Finance:
Since its launch in 2020, Maruti Suzuki Smart Finance, through its finance partners, has disbursed over INR 64,000 crores worth of loans to over 1 million customers. Through the Smart Finance platform, Maruti Suzuki has redefined the modern car buying experience with the help of 23 financers including State Bank of India, Mahindra Finance, IndusInd Bank, Cholamandalam Finance, HDFC Bank, Kotak Mahindra Prime, ICICI Bank, AU Small Finance, Bank of Baroda, Sundaram Finance, Axis Bank, Toyota Finance, YES Bank, HDB Financial Services, Canara Bank, Bank Of India, Union Bank, Punjab National Bank, Indian Bank, Central Bank, Bank Of Maharashtra, Federal Bank and Karur Vysya. The Smart Finance platform is available for Arena and NEXA customers and covers a wide range of customer profiles to meet the demands of a diverse range of customers across India.
About HDFC Bank:
For information on HDFC, click here
Issued by:
PR & Communications,
Maruti Suzuki India Limited,
#1 Nelson Mandela Road, Vasant Kunj, New Delhi
Ph: 91-11-4678 1000
Email: corp.comm@maruti.co.in | Twitter: @Maruti_Corp
