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Digital loans at Maruti Arena

Smart Finance offers customers a one-stop shop for financing
The services include option to choose among a range of finance products based on customer needs, selecting the best-suited loan product, completion of all finance related formalities and the disbursal of loan online.

Our Special Correspondent   |   Calcutta   |   Published 16.01.21, 05:43 AM

Maruti Suzuki India Limited (MSIL) has extended its online financing platform — Smart Finance — to its Arena customers across 30 cities. Earlier, the company had launched the digital financing platform for its Nexa customers only. With the Smart Finance programme, 24  of the 26 steps in buying a vehicle have been digitised, the company said.

Smart Finance offers customers a one-stop shop for financing. The services include option to choose among a range of finance products based on customer needs, selecting the best-suited loan product, completion of all finance related formalities and the disbursal of loan online.

The Maruti Suzuki website will act as a facilitator between the customer and the financier. Smart Finance also offers transparency in loan tracking as consumers will be able to check the status of the loan online at each stage of the process in real time.

MSIL has partnered 12 financiers, including State Bank of India, HDFC Bank, Mahindra Finance, ICICI Bank, Axis Bank and Yes Bank. Subsequently, the company will bring on board other financiers.

Shashank Srivastava, executive director (marketing and sales), Maruti Suzuki India, said, “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. With Smart Finance, we aim to reach out to a larger audience, assist them and make every stage of the loan process transparent.”

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