Maruti Suzuki Car Loan: Eligibility, Features & Benefits

An end-to-end digital financing platform, Maruti Suzuki Smart Finance takes care of all your car loan related needs - from finding the right finance partner, choosing the best loan offer, completing the paperwork and related formalities and finally the safe disbursal of the loan. It makes availing a car loan convenient by acting as a facilitator between the financier and the customer.

But before you apply for a loan, you must check your car loan eligibility and also learn about the features and benefits you get with Maruti Suzuki Smart Finance.

Check Car Loan Eligibility

Before applying for a car loan, it is always beneficial to check the basic eligibility rules and criterion that you need to fulfil in order to successfully receive a loan amount. Although loans nowadays are highly customised to suit buyer requirements, car loan eligibility still requires some strict conditions to be fulfilled which are laid down by the banks.

Age: For salaried individuals, the minimum age for applying for a car loan from a bank is 25 years and the maximum age is 58 years. Self-employed individuals such as freelancers and business owners can avail a loan only after 28 years of age, till the age of 65 years.

Employment: Employment plays a big role when it comes to car finance eligibility. A minimum period of employment of 2 years for salaried individuals and a minimum period of 3 years for self-employed individuals is required by the banks. Companies can also avail car loans from banks after they have completed at least 2 years of existence with valid documents.

Income: Different institutions work under different guidelines for determining the minimum income for an individual when applying for a car loan. Most nationalised banks require a minimum income of 2.5 Lakh rupees per annum for car finance eligibility. Furthermore, certain private banks and lending institutions offer lower income limits owing to the financial factors of the local area.

Credit Rating: Another important factor to be considered is the credit rating which is a background check of the individual’s financial standing and credibility. The country’s primary institution, CIBIL provides credit rating for car loan applications, and having a good CIBIL rating is important to avail any kind of loan from a bank.

Features of Maruti Suzuki Smart Finance

Maruti Suzuki Smart Finance lets customers apply and avail car loans with supreme convenience and ease. Right from selecting the bank to finding a suitable loan offer based on your needs, Smart Finance makes it easy and efficient.

The key features of Maruti Suzuki Smart Finance include: -

  • Pre-Approved & Custom Generated Loan Offers from multiple financiers

  • Complete Transparency on Fees and Charges

  • Customisable EMI options

  • Digital Document Upload and Real Time Loan Status Tracking

How to apply Car Loan using Smart Finance

Being an online platform, Maruti Suzuki Smart Finance has made it very comfortable for you to apply, compare, evaluate and track your loan application. All you need to do is enter a few details about you and the car you wish to buy and know the complete composition of the price of your favourite car with ex-showroom price and the on-road price. You can further customize your requirements by adding or subtracting accessories for your car. All this happens in just in 4 simple steps with Maruti Suzuki Smart Finance:

  • Verify your details

  • Compare and select the best finance offers

  • Digital document upload

  • Financier verifies and sanctions loans online

Let’s make your car finance simple


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