HDFC Bank, a private sector lender, has launched 'Xpress Car Loans,' an end-to-end digital new car loan process for both existing and new customers.
The bank has partnered with car dealerships around the country to integrate its financing programme. This industry-first facility is anticipated to change the way the country finances automobiles. For car buyers, Bank has designed a comprehensive, faster, more convenient, and all-inclusive digital journey.
This will make the car-buying procedure easier and boost sales across the country, even in semi-urban and rural locations. In less than half an hour, the loan amount will be credited to dealers' accounts.
Shri Arvind Kapil, Country Head, Retail Assets, HDFC Bank, said, "HDFC Bank has been a pioneer in digital technologies." Now we're taking the next step by introducing an end-to-end digital vehicle loan solution for both existing and new consumers. HDFC Bank's Xpress Car Loans will be an industry-defining automotive financing journey. It will be available at all of our branches and dealerships, as well as through third-party aggregator platforms in the future.
While the automobile ecosystem has evolved, there is still a great opportunity to create value for customers by altering the customer experience, notably in semi-urban and rural India. At HDFC Bank, digital is a way of life, and we believe it has the potential to alter our development trajectory from incremental to exponential, he says.
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