Maruti Suzuki joins hands with HDFC Bank for ‘Xpress Car Loans’ feature

The company introduced the Maruti Suzuki Smart Finance platform in 2020, a seamless end-to-end online car financing solution, simplifying the process for potential car buyers.

Autocar Pro News Desk By Autocar Pro News Desk calendar 10 Aug 2023 Views icon7691 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp
Maruti Suzuki joins hands with HDFC Bank for ‘Xpress Car Loans’ feature

 Maruti Suzuki India, has teamed up with HDFC Bank to unveil a new instant loan feature 'Xpress Car Loans' on the Maruti Suzuki Smart Finance platform. This collaboration aims to cater to the changing preferences of digitally adept customers. The addition of the HDFC Bank 'Xpress Car Loans' feature enhances the convenience of the car purchasing process for potential Maruti Suzuki customers.

According to the company, the introduction of this 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.

Rolling out the customer-centric feature, Shashank Srivastava, Senior Executive Officer, Marketing and Sales, Maruti Suzuki India, said, “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.”

Arvind Kapil, Country Head, Retail Assets, HDFC Bank, further added, “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+ customer have benefited without having a need to submit any paper for their car loan needs.”

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