Maruti Suzuki India Limited has launched a unique financing initiative called “Suhana Safar.” Rolled out in collaboration with AU Small Finance Bank, the scheme directly targets aspiring car owners who struggle to arrange a lump-sum down payment or worry about managing future monthly installments. It applies specifically to four of Maruti’s popular small-car models: the Alto K10, S-Presso, Celerio, and Wagon R.
Under this innovative framework, a customer first opens a recurring deposit account with the bank, saving a fixed amount every month for a period of three to six months. This monthly deposit is strategically pegged at roughly 80 percent of the vehicle’s expected EMI. For example, if the estimated car EMI is 10,000 rupees, the customer saves 8,000 rupees monthly. Once the deposit matures, the accumulated savings plus interest are used directly as the vehicle’s down payment. The customer then transitions seamlessly into a regular car loan.
Company executives note that the idea was inspired by structured savings programs popular in the jewelry industry. It creates a win-win situation; customers can test if a loan fits their household budget, while banks gain clear visibility into a buyer’s repayment discipline before disbursing the final loan. To incentivize buyers, Maruti dealers will even reimburse the final month’s deposit instalment upon vehicle purchase. The initial response has been highly encouraging, drawing over 8,000 inquiries and 1,700 bookings within its first month, signaling a strong growth trajectory for India’s booming small-car segment.
