New Delhi: Maruti Suzuki India Limited (MSIL) has introduced an instant loan feature, HDFC Bank ‘Xpress Car Loans’, on its Smart Finance platform to meet the evolving need of the digital savvy customers.
The automaker had launched India’s first online end-to-end car financing platform, Maruti Suzuki Smart Finance, in 2020 providing an easy and convenient car financing solution to the prospective car buyers. The platform lets customers check and compare offers from multiple finance partners, customize and choose best offers with transparency and apply for loans digitally from anywhere, thus enhancing customer experience.
The introduction of the HDFC Bank ‘Xpress Car Loans’ feature will make the car buying experience even more convenient for prospective Maruti Suzuki customers with seamless car financing solutions, MSIL said.
Fortifying their partnership, the introduction of this new 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, MSIL said.
The roll-out of the HDFC Bank ‘Xpress Car Loans’ feature was announced in the presence of Shashank Srivastava, Senior Executive Officer, Marketing & Sales, Maruti Suzuki India Limited, and Arvind Kapil, Country Head, Retail Asset, HDFC Bank, along with other senior officials.
“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,” Srivastava said.
Arvind Kapil 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 the industry’s first end-to-end digital car loan platform. Since inception 75000+ customers have benefited without having a need to submit any paper for their car loan needs.”
